3 Services Every Jewelry Store Should Offer

One of the biggest mistakes new jewelry stores make is not offering services to their customers. While most of your profits come from product purchases, there's still a big market for jewelry services. And not offering these services will essentially hurt your business in the long run. To learn about the types of of services jewelry stores should offer, keep reading.

#1 - Engravings

The first service we're going to talk about are engravings. It's not uncommon for customers to request a particular name, word or phrase engraved onto their jewelry. If your store doesn't offer this service, the customer may take their business elsewhere. Engraving is a relatively simple and straightforward process that's done either through a profess known as 'etching' or with laser technology. Of course, you could purchase both a laser and etched engraving machine to offer your customers a choice between the two.

#2 - Ring Resizing

Another key service that each and every jewelry store should offer is ring resizing. Let's face it, our fingers change in size over the years. A ring that used to fit 5-10 years ago might not fit anymore. This is why jewelry shops offer resizing services. It's important to note, however, that only some metals are suitable for resizing. Gold, platinum and silver are all excellent metals that are easy to resize. Other metals like titanium are too tough for traditional resizing techniques. This is something that you'll have to master through practice and experience.

#3 - Cleaning

Of course, a cleaning service is bound to attract more customers to your jewelry store as well. Whether it's a ring, necklace, pendant, bracelet or pair of earrings, jewelery is bound to gather dust and dirt over time. Cleaning it up, however, will instantly revitalize its appearance, making it appear brand new. Cleaning jewelry is incredibly easy and requires no special tools or equipment. All you need to perform a professional cleaning is the right solution, which can you purchase through your jewelry contacts.

Offering the services listed here will attract more customers to your retail jewelry store. The fact is that a large portion of customers visit jewelry shops for the sole reason of purchasing a service. Overlooking this key aspect will only hurt your business by sending customers to competing jewelry stores. Remember, the three services you need to offer are engravings, ring resizing and cleaning.

How To Get Media Exposure For Your Small Business

Small businesses can benefit immensely from the power of media exposures. Whether you run a supermarket, convenience store or any other small retail business, you shouldn't overlook the power of media. In today's fast-paced age, more and more people use media as their primary source for locating news and information. You can take advantage of this fact by leveraging it for your small business; here's how:

Press Release

One of the easiest and arguably most effective method for gaining media exposure is to submit press releases. Basically, these are short articles about your business which news outlets pick up publish themselves. There's no guarantee that a news outlet will publish your story, but the short amount of time it takes to write and submit a press release will almost always prove to be worth your time. Some of the top press release websites include prlog.org, prweb.com and sbwire.com.

Participate In Charity Events

Another technique that's helpful for gaining media exposure is to participate in charity events. Perhaps your business can sponsor a Little League baseball team. For the small price of a donation, you'll be able to display your business's logo while helping to fund a Little League baseball team. It's a win-win situation for everyone involved. In addition, some of the local news outlets may pick up on your donation and cover your charitable contributions as well. You can even go one step further by submitting a press release highlighting the contributions made by your business.

Newspaper Advertisements

Of course, newspaper advertisements is an effective technique for generating media exposure. After all, newspapers are run by the media, so it only makes sense for businesses to use them for exposure. Pick up the phone and call around to some of the local newspaper companies in your area. There are a couple of different factors which influence the price of an ad, including the location (ads in the front cost more), size and publication date.

Radio Advertisements

Even with more and more people using satellite radio or listening to their MP3 players in the car, radio is still an incredibly effective outlet for generating media exposure for your small business. A short 30-second commercial is a small investment that will pay off when performed correctly. Identify your business's target demographic and then choose the right radio station to match. In addition to generating direct sales/leads to your business, radio advertisements will also reinforce your brand's recognition.

5 Factors That Influence Retail Consumer Spending

The primary objective for most retail store owners is to increase their revenue through more sales. Common sense should tell you that a higher number of sales translates into more revenue and ultimately more profits. But how exactly do you encourage customers to buy more of your product? First and foremost, you should familiarize yourself with the different factors that influence retail consumer spending.

#1 - Product Price

Product price is arguably the single most influential factor in a consumer's decision to make a purchase. If a consumer comes across a rock-bottom price that seems just too good to pass up, they'll likely make a purchase even if they don't need the item. You can use this to your advantage by offering exclusive sales discounts and promotions on products in your store.

#2 - Customer Service

You might be surprised to learn just how much of an effect customer service has on consumer spending. The fact is that people simply don't want to spend their hard-earned money in stores with poor or nonexistent customer service. On the other hand, you can make customers feel more comfortable making purchases in your store by going the extra mile. When a customer walks in through the door, have an employee greet them with a friendly "Hello." Also, make sure you are there to help customers find what they need while they are shopping in your store.

#3 - Economy

The nation's economic downfall has affected practically every business and industry, including retail. Consumers are more cautious of spending money in retail stores due to the nation's recent economic troubles. Although it's not quite over, the good news is that sales and confidence has picked up among consumers.

#4 - Credit

Consumers' credit standing/history is another factor that influences their purchasing decision. If the consumer is reaching his or her credit limit, they'll be less likely to purchase products from a retail store.

#5 - Marketing

A fifth and final factor that's known to influence consumers' purchasing decisions in a retail store is marketing. If the store markets their product exceptionally well, consumers will naturally be more likely to make a purchase. This is why it's important for store owners to constantly work on improving their product displays. A well designed product display will capture the consumer's attention while enticing them to make a purchase.

How To Clean Glass Without Leaving Behind Streaks

One of the most common complaints people have when cleaning windows or similar glass surfaces is the production of streaks. Even if you purchase and use some expensive glass-cleaning product, there's a chance it will still leave behind streaks. To make matters worse, these streaks are even more visible once the glass is cleaned, resulting in a messy, unfinished appearance. Whether you are cleaning glass inside your home or place of business, you should do so without creating streaks. If you are still scratching your head trying to find out how to accomplish this, keep reading.

Things To Avoid...

Did you know that cleaning glass surfaces in direct sunlight will increase the chance of streaking? This is due to the fact that moisture evaporates more quickly in the sunlight than it does in the shade. Once you spray the cleaner on the glass surface, the sunlight will likely evaporate some of the it before you are able to clean the surface. To prevent this from happening, only attempt to clean glass surfaces in a shaded area. If you are cleaning glass inside your home, office or a building, pull the curtains down over the windows to block out the sun.

Paper towels should also be avoided when cleaning glass surfaces. This may not seem like an issue, but paper towels will contribute to streaking. The reason for this is because of their lint surface which doesn't effectively dry up all of the moisture. Rather than using paper towels to clean glass, try using a microfiber cloth, a squeegee or even a wad of newspaper.

Choosing a Glass Cleaning Product

It's a common assumption that all glass cleaning products are the same. Unfortunately, most of the products you'll find available at your local grocery store or home improvement store will likely result in streaks. Rather than using a glass cleaning product, try using vinegar. Simply fill up a spray bottle with half white vinegar and half distilled water. Spray the diluted vinegar over the glass surface and immediately clean it off using either a microfiber cloth, squeegee or some newspaper.

As long as you wipe up the diluted vinegar within seconds of spraying it, this should clean the glass without leaving behind any streaks. Some people might be turned away at the smell of vinegar, but thankfully it goes away in a few minutes. Of course, the smell of vinegar is no worse than the smell of ammonia-based glass cleaner.

The Importance of Employee Recognition Programs

Whether your business is small, large or anywhere in between, you should implement an employee recognition program. Doing so will not only reduce your turnover rate, but it will also encourage workers to push themselves for excellence. Far too many businesses owners and managers overlook this fundamental principle, resulting in poor performance by their employees. This, of course, can be prevented with an employee recognition program in place.

The single most notable benefit of employee recognition programs is their show of appreciation to the hard-working individuals in your business or company. Rather than simply cutting a paycheck to your employees, you can go one step further by rewarding those who excel at their job. This show of appreciation and recognition will encourage employees to go above and beyond the call of duty. Studies have shown that employees work harder and more efficiently when they are "recognized" for everything they do.

Trophies and Awards

There are dozens of ideas for employee recognition programs, one of which is a personalized trophy or award. If an employee is able to produce X amount of sales within a fiscal quarter or given time period, then perhaps you can reward them with a personalized trophy. This is an excellent form of recognition that will serve as a sense of accomplishment to the recipient. If he or she ever needs a boost of self-confidence, they can look back at their trophy.

Of course, a personalized wall plaque is another excellent idea for recognizing employees. Unlike trophies, plaques can be flush-mounted to the wall. You can choose to either give the personalized plaque to the employee, or you can mount it on the wall where others can see it.

Other Recognition Ideas...

Cash is another form of employee recognition that many businesses use. If you are looking for a universal reward that all employees will appreciate, you can't go wrong with cold hard cash. Offering a bonus check to workers who meet a certain criteria is a great way to promote efficiency in the workplace.

Gift cards can work just well, if not better, than cash for employee recognition programs. Try creating "tiers" for your employees to strive for.  If an employee reaches one of the lower tiers with their sales, leads, promotions, etc., then you can reward them with a $50 gift card. However, if they reach a higher tier, you can reward them with a $100 or even $500 gift card.

Tips For Opening an Electronics Store

Are you thinking about opening a retail electronics store? Doing so can be both fun and financially rewarding, allowing you to earn a living while helping customers find the right electronics. Because of the unique characteristics surrounding electronics, however, running a retail store isn't always an easy task. You must educate yourself on the current trends and prices to ensure your business is profitable. With the right strategy and a little bit of work, however, you can turn your new endeavor into a success.

What's Hot?

The secret to running a successful retail electronics store is to focus on products that are currently hot. As you probably already know, electronics come and go in trends. A product that's popular now might be forgotten about in a year or two. This is why it's important to focus your store's inventory around products that are in high demand. So, how do you know whether or not a product is in high demand? There are several different tools for locating this information, but one of the most effective methods is to view products on marketplaces like Amazon and eBay. Open up these websites and sort the electronics category by popularity. This will allow you to see exactly which types of electronics products are selling right now.

Another idea for locating electronics in high demand is to browse some of the national electronics stores. They will likely keep their "hot" selling products out on display where customers can easily see them. Taking a stroll through some of your competitors' shops will give you a better understanding of which products are in demand and which ones aren't.

Buying and Selling Used Electronics

You should consider buying and selling used electronics as well as new models. Most of the national electronics stores focus solely on new products, leaving the niche wide open for smaller retail stores. Buying used electronics either online or from local customers is an excellent way to acquire more inventory, and it allows you to offer produces at rock-bottom prices.

If you intend on buying and selling used electronics, you should perform a test on them beforehand to ensure they are in working order. When a customer brings in a used product to sell, perform a quick test to make sure it works. If you are purchasing a used product online, see if it comes with a return policy; otherwise, you could end up with a dead product.

Tips To Improve Customer Satisfaction In Retail Jewelry Stores

Customer satisfaction is a key component to running a successful retail jewelry store. You can offer the best selection of high-end rings, necklaces, earrings and bracelets all at rock-bottom prices, but it's all for nothing unless your customers are 100% satisfied. Retail jewelry is a cutthroat industry that requires a focus on customer satisfaction and service. Without this element, customers will take their business elsewhere. In this post, we're going to reveal some effective tips to improve customer satisfaction in retail jewelry stores.

Offer Flexible Financing Options

Let's face, customers aren't always able or willing to shell out the full price for a diamond engagement ring or some other piece of high-end jewelry. However, you can help them out by offering flexible financing options based on their income and credit. As long as the customer is fully capable of making monthly payments, you should give them the ability to purchase the ring. It's not a bad idea to offer a 6 or even 12-month no-interest financing plan where customers have a certain amount of time to pay it off without interest. If they aren't able to meet these obligations, the customer will then be faced with interest charges.

Free Ring Sizing and Engravings

You can set your jewelry store apart from your competitors by offering free sizing and engraving services with rings purchased at your store. Instead of nickle and diming customers for services such as these, why not offer them free with the purchase of any rings in your store? This will encourage customers to purchase your products while sending the message that you care about the customer. It's a win-win scenario that benefits both parties.

Sizing and engravings take very little work and time. Even if you are unfamiliar with the process, you can outsource these services to a third party. However, it's important to only use the services of a third-party company that you know and trust.

Jewelry Sales and Promotions

Running special promotions and sales on your products will also result in higher customer satisfaction. Customers want to feel like they are getting a good deal on their purchases. So, try running sales around the holidays, weekends or special occasions. You could even offer a "back-to-school sale" for certain jewelry products in your store. Spread the word about your promotions through various outlets and marketing material so people know about it.