Jewelry sales professionals derive great satisfaction from helping customers find exactly the right jewelry to meet their needs. Specific job duties vary, but may include setting up store windows and showcases, using computers to track inventory or manage customer relationships, and assisting with special in-store events.
Many independent jewelers are family owned, and they often offer a personal touch. Purchasing from them gives consumers the assurance that their one-of-a-kind pieces are crafted with care and precision. They also know the credentials of the person who set the stones, a detail that is important to many consumers, particularly younger ones who are concerned about sustainability and environmental impact.
In contrast, big box stores often buy in bulk and aren’t as transparent with customers about the quality of their products. These retailers use a higher markup on jewelry, which covers things like magazine advertising and shop overhead. As a result, their products are less expensive than those of independent jewelers, but they don’t offer the same level of service and customization.
Some large jewelry chains try to differentiate themselves by associating their products with celebrities, designers, or other equities. Sterling Jewelers has a Jane Seymour line, for example, and JCPenney offers bridal jewelry and costume jewelry branded by Modern Bride. However, these efforts can backfire and can devalue a brand’s reputation in the market.
Aside from branding, retail jewelers must focus on delivering outstanding customer service and offering a wide variety of merchandise. They must also be able to quickly assess their current inventory and order supplies. As a result, it is crucial for them to use an effective inventory management system that includes real-time tracking and alerts so they can make timely decisions.
The best way to gain retail experience in the jewelry industry is to work in a local retail store or gift shop, although most jewelers realize that this type of position doesn’t always provide the right environment for someone who wants to be a part of a jewelry business. Having customer service skills is essential, however, so if you’re interested in a career in jewelry, it is still worth pursuing a job in retail before applying to work in a local store or boutique.
Jewelry retail has its own unique challenges, including keeping up with fashion trends, navigating the economy, and competing with online shopping. To overcome these challenges, a jeweler must understand their target audience and be able to tailor their products and marketing strategies accordingly. Trying to sell to everyone is a mistake, as different segments have unique considerations and buying behaviors. The most successful jewelers build a niche in the market and concentrate their resources on acquiring and retaining customers within that segment. They also invest in newer technologies, such as augmented reality (AR), that allow customers to virtually try on jewelry in their own homes. This can help them maximize revenue and boost conversions. Additionally, they invest in newer varieties of jewelry and keep their existing collections fresh by periodically auditing and adding to their offerings.
