A career in jewelry retail can provide you with many opportunities for advancement. You can move from working in a shop or store to owning your own jewelry business or moving into management of other locations. This type of career is a great choice for people with strong customer service skills and a love of jewelry. The most common route for advancement is from the sales floor to management. This is because most jewelry stores employ a lot of sales staff who receive firsthand training in how to sell products and services to customers.
The jewelry industry has been impacted by the same trends that have affected many other consumer goods sectors. The industry has shifted to online sales, and jewelry stores that do not have a presence on the internet face competition from online-only retailers. In order to remain competitive, jewelry stores need to offer a variety of products and services to attract customers. They also need to offer the same high quality and expert level of service that customers can expect in person.
Large jewelry companies often differentiate their products through partnering with celebrities and designers to create exclusive lines of jewelry. Sterling Jewelers, for example, has had success with its Jane Seymour-branded line of bridal and fashion jewelry. Other chains such as JCPenney, QVC and Modern Bride have also introduced celebrity costume and fine jewelry lines. These partnerships are intended to create a distinct image for the brand and draw in consumers that would not otherwise be interested.
Most jewelers have to mark up their products in order to make a profit. They pay a price to acquire the precious metals and stones, they then add their own labor for fabrication and they include a mark up for their overhead. For the average jewelry store, this mark up can be 30 percent or more of the selling price of a product. In addition to paying for the raw materials, jewelry stores also need to pay for property rental, staff salaries and interior decoration costs.
Creating a successful jewelry business requires a good marketing plan and a deep understanding of the needs of your target market. It is important to choose a name that will resonate with your audience, and create a logo that will help identify your brand. A free online logo maker can be a great tool to use to develop the perfect business logo for your new company.
One way to get your brand out there is to participate in local markets and other events. This can be a great way to get your product in front of a potential customer, and you may find that the response is favorable enough to allow you to turn your hobby into a full-time business venture.