I found myself with these kind of questions last summer. I toyed with the idea of adding shelving, but that seems counterproductive to the whole minimalism path I'm trying (TRYING) to follow. So I thought about what I wanted, and looked at pictures on Pinterest. Then I started sorting and discarding stuff I wasn't using in my wardrobe.
I have things at my place, and at my boyfriend's. The storage is a little different between the two:
Bags: At my place: they're stuffed with airpacks, and in the main compartment of my armoire on stackable bamboo shelves. At the BF's: they're stuffed with airpacks, and on a wire closet shelf above my clothes. Right now, I think have 20-22 bags, including evening clutches.
Boots: At both places, I keep them on the closet floor, against the back wall. I stuff them with airpacks. Currently I have four pairs of boots at my place, and five at mine. When the weather is warm, all but two pairs of dressy boots live at my place.
Hats: My place: Stored by season in a couple of decorative hat boxes I got on sale at Ross or Marshall's. At the BF's: on the wire closet shelf, next to my bags.
Scarves, Jeans, Knitwear: I hang everything by color, then category. So my blue jeans are hung next to blue tops and blue scarves, green next to green tops + skirts, etc. I also sometimes store my scarves crumpled on the chair, underneath whatever jacket I was wearing it with, and gloves.
Sweats : I have one pair of sweatpants, two pairs of sweater pants, and a sweater that fulfills a sweatshirt function. (It that's in the laundry, I plunder the BF's stash). They all live on a different wire shelf in the closet, with his sweats and sweaters.
Jewelry and watches - my pearl studs and blue statement ring sit in a small vintage pintray on a shelving unit in the BF's condo. The bulk of my jewelry is kept at his place, on the shelf below, in a big compartmentalized jewelry box. I keep a smaller jewelry capsule at my place, in a jewelry box in the armoire. I have two or three watches now, I think? They're in the jewelry boxes. I purged half a dozen watches, because I always check the time on my iPhone. Even when I have a watch on my wrist.
Any jewelry that is costume/not something I would wear in my normal life, I have stored in a couple of boxes in the guest room closet, where I keep theatrical and cosplay costuming and wigs.