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Important Factors To Consider For Successful Jewelry Business

Successful jewelry retailers will know what their customers desires to purchase and take appropriate steps to gather valid information regarding shopper preferences.

Few factors for successful jewelry business are:

  • Make use of marketing research tools. Stores must make decisions depending on trend reports, sales performance figures, competitive investigation, market demand predictions, and focus groups.
  • A retailer should ask customers what they think, and provide incentives to comfort them to answer. In-store surveys and e-mail questionnaires help in determining the correct mix of products in a form of price points.
  • Sales people should be trained to approach customers to determine if they want any help and sales staff must tailor their presentations to each and every customer’s interests, instead of following the same approach for each customer.
  • Must know the reason behind the jewelry purchase and participate in the emotional excitement, which sometimes results in the purchase of “add-ons” (like jewelry cleaner, jewelry boxes, or travel pouches).
  • Must offer something which is surprising, truly unique, edgy, or also a little different. This type of approach is press-worthy, gives perfect website content, and can be the foundation for sending announcements or invitations.
  • Reach out to the community to create awareness, produce traffic, and promote the store’s brand. Sponsoring charity events or sports teams, or hosting concerts and art shows, are great methods to attract new chances or expectations with a reasonable investment.

Source: National Jewelry Network

Updated: March 29, 2013 — 2:54 am
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