Jewelry store owners need to optimize their business and invest in improving those areas. Some bad practices that can harm your jewelry business are listed below.
Look for ways to move forward
Strictly avoid focusing on existing customers the Generation X and Baby boomers. Find ways to attract prospects, especially millennial. The massive buying power of millennial cannot be ignored. Therefore, incorporate digital elements within your business. Ignoring this can make it difficult for you to grab the attention of this demographic at the time when their earning starts to escalate in coming years.
Sell customized
Just like millennia’s the older generation and Generation X adore having a unique and customized long pearl necklace or a diamond pearl ring. Remember, custom creation is not on Amazon but it is an item that you design with the customer. It is what customers want today, which any sites like Amazon does not sell.
Go on the World Wide Web
Website is a necessity even if you own a physical jewelry store. Online presence strengthens your product and what you offer to customers. It is the first stop today shoppers make before they enter your jewelry store. Make sure that the website is mobile friendly because millennia are largely using Smartphone. Moreover, the site has to load fast, be visually appealing as well as informative.
Invest in education
It includes learning about the product, branding, sales strategy and getting to identify consumer market. This will allow them to stay ahead and align with next shopper generation. To build relationship with millennia, it is necessary to go beyond traditional marketing form.
Social media presence is a great way to connect with prospects in a creative and authentic manner. Today, everyone is connected with media, so you can concentrate on content creation. It is a great way to digitally build relationship that result in income.
Stop being concerned about the competitor down the corner
You may miss the real threat because the local jewelry store down the street will not damage your business but the biggest threat is –
- Internet
- Totally different model, for e.g. how Blockbuster video was destroyed by Netflix…something no one will imagine coming.
- Non-consumption, for e.g. people choosing Apple Watch rather than Rolex.
