How to Achieve Greater Success in the Jewelry Retail Market

Online jewelers are doing better than brick-and-mortar stores, largely due to millennials. These consumers are tech savvy and prefer to shop online for the best deal instead of relying on local stores. According to a recent article in the National Jeweler, millennials are a crucial force driving the growth of online retail. In addition to the millennials, nearly every big box retailer has an online platform and eBay and Amazon continue to thrive. In 2016, consumers made 51 percent of their purchases online, up from 48 percent the previous year.

Independent jewelry retailers have the advantage of passion for fine jewelry, and will often go the extra mile to ensure that their customers are satisfied. While online retailers are convenient, they will not be as attentive as a brick-and-mortar retailer. Online jewelry stores may seem to offer customization, but the selection is very limited, making it difficult to find what you are looking for. Independent jewelers can help you find the perfect piece of jewelry for you, and they’ll take the time to listen to what you want.

Expert jewelry shops are transparent about the quality of their products. Diamonds are graded, cut, and color, so expert jewelers can note the specifics of a piece. Many women enjoy wearing jewelry that is unique to them, and local jewelers usually have unique pieces to offer. Unique colored stones and rare metals are also available. Most retail jewelry stores sell mass-produced jewelry that is the same in multiple locations. However, if you want to spend a little more money, you may find some unique pieces that you won’t find anywhere else.

Social media platforms have opened up new communication channels with customers and provided advanced filters that allow jewelers to target specific niche segments. Through these channels, jewelers can run promotional campaigns and offer discounts to retain their clients. And with the power of social media and the advanced tools of these platforms, there is no reason not to tap into these new tools. Achieve greater success in the jewelry retail market and become more competitive. Take a look at these tips to ensure success.