Is your area of activity the jewelry market? Are you interested in a massive influx of customers and constant profits? Is your task to stay at the top of the most popular and popular shopping centers, to become a real trading virtuoso? In this case, read carefully: this article will be interesting and useful to you. It is the result of an analysis and synthesis of the work experience of many owners and managers of jewelry stores, professional sellers, and contains practical recommendations for attracting target buyers and selling goods.
Technology of "Magic Numbers"
To ensure that trade in your jewelry store flourishes, set “correct” prices for products that contain special combinations of numbers.
According to research, people like amounts containing the numbers 5, 7, 9. Include them in the cost of products. Seven is especially popular, so use it more often. Then 5 and 9. For example, 799 rubles, 7095, etc. “7”, “9”, “5” almost hypnotize customers, literally forcing them to buy the product! Price “swings” are the second component of the “Magic Numbers” Technology. Sale prices, big discounts must be on products. But the assortment also requires expensive goods. A separate and fairly large category of customers will not buy products precisely because they are cheap. The point here is the stereotype of prestige or the combination “expensive means high quality.” And most people want high-quality products that meet their needs.
Can I return jewelry to a store?
It is impossible to refuse serviceable, non-defective jewelry. This is indicated in the law “On the Protection of Consumer Rights” and the List of non-food products of good quality that are not subject to exchange, approved by Decree of the Government of the Russian Federation of December 31, 2022 No. 2463: jewelry and other products made of precious metals and (or) precious stones, cut precious stones stones are not subject to exchange on the grounds specified in Art. 25 of the Law (if the product does not fit in shape, dimensions, style, color, size or configuration). Therefore, if you bought a piece of jewelry and then realized that you don’t like it, one of the possible options is to sell it second-hand.
Let’s role-play the situation, or “Successful Sales Script”
- The visitor entered - the seller looks at him, smiles (eye contact, 30 seconds);
- The seller greets (optimally - “Good morning”, etc.), addressing the visitor strictly as “you”;
- The client is given 30 seconds to “get comfortable”;
- The seller begins a casual conversation with the visitor, saying, as if by the way, a “magic” phrase like: “We’re just running a promotion, there are good discounts on...”, “Oh, you’re lucky, we’re showing a new collection...”, “We have all the goods comes directly from manufacturers, therefore...”;
- A pause of 10 seconds for the visitor to absorb the information, then work with the client. If there are a lot of visitors, the questions are monosyllabic: “Should I show you...?”, “Are you interested in...?”, “Why...?”. All attention is on the buyer, the desire to understand what he wants. If there is only one buyer, the conversation can be more extensive, with open questions: “What exactly interests you? And if you look at this...?”, “What do you plan to wear with it? Then…";
- During the presentation, you should look at the visitor most of the time. Offer to look at no more than 4-5 items of the desired type of jewelry at different price levels. The following phrases are well received: “We have a whole line of this product... Its name... The products are different...” The demonstration should begin with the most valuable items, emphasizing that you take into account the client’s needs: “You said that you want...”. The seller can emphasize the advantages of the jewelry offered, their excellent quality, original design, successful selection of stones, etc., and draw attention to the benefits of the purchase. The appropriate questions here are: “Is this thing suitable for you? Or look at this one... After all, you wanted to...” Arguments like: “In this way you...”, “This will allow you...”, “You will have the opportunity...”, etc. will become especially powerful.
- If the client objects, the seller should not argue with him. The following tactics would be excellent here: take the position of the buyer, apparently agree with him, and present counterarguments. Namely: “Yes, you noticed correctly here, but...”, “You know, it’s good that you said this. However...", "I don't argue. But let's look at this differently...” The buyer should feel that you are not just objecting and pushing, but collaborating with him and helping! If the client refuses everything that is offered to him, the seller must ask: “What would you like?”, “What did not suit you?”, “What conditions would suit you?” The entire conversation should take place without any hint of aggression on the part of the seller! Only respect and care!
- Making a purchase begins with clarifying whether all issues have been resolved. Therefore, the employee asks the buyer again whether he is satisfied, whether the choice is final: “Are you satisfied?”, “Shall we write a check?”, “Are you taking the goods?”
- It is important that when completing the purchase, the seller offers additional accessories that the buyer himself did not think about, but which will be useful to him and will increase sales. These are cases, jewelry boxes, holders, and care products for metals and stones. A store should definitely have an assortment of all this! The client himself did not think about them, but they are necessary things! The buyer will be grateful to the seller for his forethought and care.
- The final stage is to clarify whether the client has any other questions, congratulate him on a successful purchase, thank him, wish him success/good day, etc., and invite him to visit the store again. The seller must behave sincerely, warmly, and kindly.
By applying these simple marketing steps from the jewelry company VOROBYEVA, you will effectively and significantly increase traffic and sales in your store in a very short time. You can also register in our wholesale catalog and purchase the best-selling jewelry wholesale for your store. Good luck!
How to increase the profitability of a jewelry store: 7 practical tips for marketers
Artur Salyakaev, founder and inspirer of the International Jewelry Academy IJA and the wholesale production company UNIPRICE, actively shares his experience in the difficult segment of the jewelry trade.
Russians' real incomes continue to fall, while gold prices rise. Thus, according to data, real cash incomes of Russian citizens over the past six months have decreased by 1.3%, and this trend has remained active since 2014. At the same time, gold prices are promised to increase by almost 10% by the end of the year. Assuming the possibility of such a scenario, thrifty retailers have created a so-called “product cushion”, thanks to which competition in jewelry retail remains quite high. How to attract customers today and increase salon profits without wasting your marketing budget? This issue is especially relevant for regional retailers, since in small cities the redistribution of budgets towards food products is felt more acutely, and stimulating consumer activity in the jewelry segment becomes especially relevant.
Artur Salyakaev, a sales expert in jewelry retail, founder and inspirer of the International Jewelry Academy IJA and the wholesale production company UNIPRICE, tells the story.
From discount system to bonuses
Despite the fact that global retail is transforming, moving from discount cards to bonuses, not all retailers appreciate the advantages of the bonus system and continue to offer the buyer a traditional discount on a purchase in exchange for presenting a card. Of course, this makes some sense, because according to Ipsos Comcon, by June 2019, the share of Russians hunting for discounts reached 50.6%. In 2016, there were 9% fewer such “discount lovers”.
The buyer perceives the discount as an investment in the purchase made. However, only bonuses make the buyer truly loyal, as they motivate him to return to the same point of sale for a new purchase. The bonus program is not only discounts, it is a comprehensive tool that, in addition to small fixed price concessions, offers the buyer additional value in the form of personalized offers, participation in various activities, full payment for purchases with accumulated points, and even membership in a closed club, as, for example, does net .
By joining the retailer’s club, customers can pay up to 70% of the purchase price with bonuses, and also receive additional discounts on gold, while at the same time participating in a fun “race for statuses.” Star, princess, queen or goddess - get a new status and your basket will be replenished with additional privileges.
Or a jewelry brand club, whose members can not only make interesting purchases, but also participate in closed exclusive activities of the brand.
This variety of scenarios is important - according to Comarch, the largest provider of loyalty program management solutions, 79% of customers would like to be able to choose a reward from several options. As you understand, this opportunity can only be realized within the framework of the bonus program. The usual discount system is not capable of such flexibility.
Automation of notifications and updating of POS materials
Advice that directly follows from the recommendation to switch to bonuses is to set up automatic notifications and trigger chains of letters in which you can and should make new and new offers to an already loyal customer. The connection with the bonus program is direct, since its goal is to aggregate the data of generous customers in the retailer’s CRM system. Customers rejoice, join the club, accumulate points, while their every move is reflected in the CRM and allows the retailer to show them different signs of attention. Thus, it turns out to be a complete win-win - interesting offers for the buyer, stable sales for the retailer.
Such a recommendation may seem like “Captain Obviousness,” but according to a study conducted by the Institute of Entrepreneurship Problems, 63% of Russian companies, including those in the trade segment, have never heard of CRM.
In the race for technological ways to attract customers, we must not forget about POS materials, which are actively used by market players to promote products and inform customers about marketing activities. Interestingly, the volume of production and sales of POSM by Russian companies in monetary terms in 2018 increased by 10% to almost 34 billion rubles. in producer prices, - these are the figures from the POPAI Russia association and the INFOline analytical agency. At the same time, the high growth dynamics of the segment, first of all, is ensured by short-term POS - +17% compared to 2017 volumes, which indicates a trend towards frequent replacement of such advertising materials.
Affiliate cross programs
Marketing activities in the format of affiliate cross-programs are an excellent opportunity to attract attention to your products and a means of increasing the profit of a jewelry salon. A well-thought-out joint campaign with a company that has a similar target audience does not incur additional costs, and even allows you to save on joint advertising materials, while opening the way to new potential customers.
For example, the jewelry brand Valtera for the first time carried out a joint collaboration with the fashion brand Incity in 2022. The mechanics of the promotion were simple - you buy clothes and accessories and at the same time receive an interesting discount on the purchase of jewelry. Valtera's assortment includes many offers with significant discounts and in the lower price segment, which organically combines with the price expectations of Incity customers. It can be assumed that the promotion was successful, since at the beginning of 2022 the brands united again, connecting the DESEO/INCITY bonus program to the activity. Customers with 3,000 points in their account could receive a fashionable pendant completely free of charge.
Joint marketing activities are a good mechanic. However, in the process of organizing such a partnership, it is important not to be too zealous. Three programs for one jewelry salon are more than enough, otherwise the staff will not be able to cope with the flow, customers will be confused about the activity conditions, followed by irritation and a decrease in the quality of service instead of celebration and joy.
Working with media via barter
Barter transactions in business are not a new phenomenon, but economic reality, one way or another, contributed to their development. This form of marketing promotion is especially interesting for small niche brands that need to be present in the media space, but budgets are extremely limited.
Creating product reviews in exchange for providing a batch of jewelry as corporate gifts for the holiday or collaboration with bloggers - “social journalists”, as they are now commonly called, such projects significantly reduce the cost of “entering” the target audience, while solving several problems at once tasks.
It is important to understand that in barter projects we are talking about special types of “currency” - these activities are not about direct sales and quick profits. If the essence of the project is placing a link to a brand’s site on a partner platform, the main performance metric is the attracted customer traffic. If this is a review of new jewelry items, then a surge in sales is possible, but the main goal is still the same - increasing brand awareness and attracting a new audience.
Barter partnership is one type of investment within the framework of a set of marketing tools, and in isolation from them it will not be effective. However, even such a project upon its completion requires a clear analysis of how it affected the business, and whether it affected...
Carrying out an examination
If the seller has doubts that the defect is a factory defect and did not arise through the fault of the buyer, then it may be necessary to conduct an examination. In this case, the return of jewelry will be somewhat delayed. As a general rule, the examination is carried out by the seller at his own expense, and the buyer can be present to make sure that everything is done fairly.
If the examination proves that there is a manufacturing defect, the buyer, at his choice, can receive a similar, but high-quality decoration or money back.
What to do in case of refusal?
Claim for return of jewelry
If the seller refuses to return the money (does not want to conduct an examination or assures that the examination revealed the cause of the defect in the buyer’s actions), first of all you need to write a claim to the store. Prepare it in two copies, one will remain with you, and it must have a signature and seal confirming that the complaint has been accepted.
Trial
If, even after writing a complaint, the seller does not meet you halfway and does not take any action regarding your situation, you can go to court. In this case, you may have to conduct an independent examination to confirm your case. Also, if possible, collect evidence: receipts, photographs, witness statements, if any.
