There is a significant shift occurring in the way jewelers retail today. Millennials have become a major factor in the shift in consumer behavior. This generation has become more internet savvy and is less likely to shop at local jewelry stores. Peter Gasca, the founder of Jeweler’s Intelligence, says that millennials are more likely to shop for the best price online rather than support their local brick and mortar store. E-commerce is now the most popular way to purchase jewelry, and nearly every major retailer, including Amazon, eBay, and Walmart, has a strong presence in the online world. In 2016, consumers made 51 percent of their purchases online, compared with 48 percent in 2015.
Many people who purchase jewelry online are looking for a great value and excellent customer service. Buying jewelry from a small, independent jeweler is an excellent choice for anyone looking to save money on a special purchase. They will be able to offer you the same high quality and service as their larger competitors. Furthermore, online jewelers tend to have lower overhead than brick and mortar retail jewelers. Additionally, e-commerce allows them to compete with the lowest prices on a variety of jewelry styles.
When opening a jewelry retail business, it is essential to obtain a Certificate of Occupancy (CO). CO is a legal document that confirms compliance with government regulations, building codes, and zoning laws. Obtaining a CO is generally the landlord’s responsibility, although it is not mandatory. However, major renovations can require a new CO. Make sure that your lease specifies that payments will not begin until you have the CO.
Jewelry store software can improve productivity and help you keep track of your inventory. It can streamline sales and simplify compliance and tax reporting. In addition, jewelry-specific retail software can integrate up-to-date precious metal pricing, provide a comprehensive inventory listing, and track repairs and appraisals. All this makes it easier to manage your business. Ultimately, choosing the right software for your unique needs is an investment that pays dividends in the long run.
Social media has also revolutionized the way jewelers can market their stores. This is largely due to the increased use of social media as a means of communicating with customers. These new channels provide advanced filters to target niche segments, which allows jewelers to run promotional campaigns and offer discounts in order to retain existing clients. In addition to using social media, retailers are also turning to other traditional channels to promote their products. For example, Harry Ritchie uses Instagram to advertise a collection of vintage and classic jewelry.
There are many ways to get started with selling jewelry. You may want to create your own unique line or sell custom pieces. Either way, you must sell your jewelry. One way to do this is to offer online services. For example, if you want to sell jewelry online, you can use software to create a picture of your design for the customer to view. This is a great way to reach a larger audience. You can also sell your jewelry online by hosting a website.