How to Get Started in Jewelers Retail

jewelers retail

Jewelers retail is a very lucrative business, and although it may seem daunting for a beginner, there are plenty of ways to get your foot in the door. Obtaining experience in retail, whether at a pawn shop or selling concessions at school events is the best way to gain the customer service skills that are essential in a jewelry store. Even if you don’t end up working in a jewelry store, the experience will help you when it comes time to apply again.

Many people who start out as a jeweler’s assistant or sales associate go on to own their own store. Starting a jewelry store requires extensive research into the market, inventory and competition as well as financial planning. In some cases, a loan from a bank is necessary to fund the purchase of inventory and equipment. The next step is to establish a logo and branding that resonates with your target audience. You can find a variety of free online logo makers to create your brand identity.

Once you have your brand established, it’s time to start building a following. Social media is a great way to drive traffic to your jewelry store and connect with customers. You can use tools like Shopify’s Linkpop to automatically post a link to your shop in your Instagram or Facebook bio. Another way to promote your jewelry store is by exhibiting at trade shows or markets. This can be a great opportunity to meet with prospective customers and showcase your latest collections.

Purchasing jewelry from a local jeweler can make a difference in your community. For every $100 spent at a locally owned business, $68 remains in the economy, compared to just $43 for a chain retailer and zero when you buy online.

People who shop at boutique jewelry stores can expect to receive superior customer service from a staff that is passionate about their craft and the products they sell. Small shops rely on word of mouth and referrals for much of their business, so they work hard to guarantee an outstanding experience. In addition, the jewelers who own these boutiques are often experts in their field and highly knowledgeable about their products.

On the other hand, buying from a large jewelry store can be a disappointing experience for many customers. The markup on jewelry at big retailers is high, which includes the cost of magazine advertising, store overhead and staff salaries. In addition, the selection at big jewelry stores is often limited and not tailored to specific customers’ needs.

Unlike bigger stores, smaller independent and family-owned jewelry boutiques often offer personalized jewelry design consultations and have a large inventory of unique pieces. They can also be more affordable than larger stores because they don’t have the massive overhead expenses. In addition, these shops are more likely to give back to their communities and support local charities. Ultimately, shopping locally gives you the best of both worlds—an exceptional customer experience and a diverse collection of jewelry that no one else can match.