Jewelry stores sell a wide range of jewelry, timepieces and sterling and silverware. This industry also includes jewelry repairers and wholesalers. The number of jewelry stores has been declining in recent years as online and mail-order sales have increased, but some traditional brick-and-mortar locations continue to thrive. The Jewelers Retail industry has benefited from rising consumer confidence and low unemployment, as consumers have been encouraged to spend on discretionary items such as jewelry and timepieces.
In many smaller jewelers, the staff has spent their whole lives working with jewelry, making them a wealth of knowledge on diamonds, gems and precious metals. They are eager to educate their customers on the intricate details of each piece and offer expert advice. In contrast, at big-name chain stores, employees receive more basic training with a greater emphasis on selling techniques.
The personal approach that jewelers take with their customers is something that most other retailers struggle to replicate. They view their products as a form of art and craftsmanship, and want to be able to connect with their consumers on an emotional level so that they can help them find pieces that truly speak to them. This desire for connection is why a local jeweler can be such a unique and valuable shopping experience.
Many independent jewelry stores also have in-house jewelers who can perform repairs and other services on the spot. These services can save a customer the cost of a new item, while also providing them with the assurance that their jewelry will be well cared for. Additionally, many of these businesses have a loyalty program that rewards repeat customers, further building trust and customer satisfaction.
Ultimately, a jeweler is a specialist who is passionate about their craft and takes pride in offering the best service to their clients. In addition to the services mentioned above, many jewelers attend trade shows and other events to promote their business, as well as participate in consignment and wholesale agreements with other retailers. This allows them to share their passion for fine jewelry with a wider audience and potentially expand their client base.
A key component of any successful jewelry store is a robust virtual inventory, which allows jewelers to provide their customers with the same level of selection that they would find in a physical retail location. With Polygon’s flexible and easy-to-use system, retailers can choose when, where and how to showcase their full selection of merchandise to their online shoppers.
Once a jeweler has determined their product aesthetic, chosen an engaging business name and developed a customer profile, they’ll need to decide how to market their brand to ensure success. For example, they may need to invest in a website to facilitate sales, or hire an advertising agency to build brand awareness and drive traffic. They should also consider the value of a professional logo maker to create a custom logo that will stand out from their competition. Then, they’ll need to determine how they’ll manage inventory and distribute their product across multiple channels.
