Retail jewelry is an exciting and
rewarding industry that allows business owners to develop lasting
relationships with their customers. If you have a natural eye for
precious jewelry and enjoy meeting new people on a regular basis,
then you'll fall right into place here. But like all businesses,
starting a new retail jewelry store doesn't necessarily guarantee
your success. If you fail to produce enough sales, your business will
drop into the red zone, making it increasingly more difficult as time
progresses. The good news is that jewelry store owners can boost
their sales by following some simple steps.
Offer Holiday Sales
If you aren't offering special sales
and promotions on your store's jewelry for the holidays, you're
missing out on one of the easiest ways to generate more sales.
Whether it's Valentine's Day, Mother's Day, Christmas, etc., people
love to buy jewelry on holidays; it's just that simple. You can
maximize your holiday sales by offering steep discounts and
promotions around this time.
Don't just mark your prices down, but
also consider releasing exclusive, limited-time products designed
especially for a particular holiday. For instance, you could release
a special white gold heart-shaped pendant necklace for Valentine's
Day. As long as you have a strong marketing campaign focusing on this
item, you can expect to see some serious sales before the holiday is
over.
Create an Online Presence
I know what you're probably thinking:
why do I need a web presence if my jewelry store relies strictly on
local sales? Well, there are several benefits to having an online web
presence, one of which is the transparency it creates. The old days
where consumers used a phone book to locate a store's physical
address or phone number are long gone. Now, most people use the
internet to find this information. Operating a retail jewelry store
without an online presence could result in potential customers not
being able to find your address, phone number or other contact
information.
Even if you don't intend to sell your
jewelry online, you should still invest some of your resources into
creating an official website for your brand. The time, money and
energy it takes to launch a website is a small price to pay for the
benefits it provides.
Offer Services
In addition to products, jewelry stores
can also earn revenue through services such as ring sizing, cleaning
and engraving. If you own a retail jewelry store, make sure you
encourage customers to try out your services. This is great way to
earn additional revenue on your product sales.
Note: you can encourage customers to
purchase your store's products by offering free sizing and engraving
services.