Before laying out the marketing strategies for jewellery retail you must understand why a strategy is required for your business in the first place. The notion that, “it’s a jewellery store and people will definitely come to buy jewels” whatever the reasons be will not help you with your business growth. Jewellery stores have taken some measures to make their brand presence felt by adopting traditional promotional methods, the larger aspect is not covered yet which is “know your target audience, their media habits, gender, etc”.
Do you know what appeals to your customer?
It’s important to understand the factors that influence your customers buying decisions. This will require in-depth research that will include interacting with existing clients to receive feedbacks and analyse it further to understand the enablers behind their buying decisions. Marketing Strategies for Traditional Jewellery Retail demands a unique approach to increase sales. Some of the key strategies that can attract more and relevant customers are:
1. Buying Capacity: You must understand your customers spending ability. When you have an understanding of the money your customer is going to splurge on his/her jewellery you will be able to present your products in that price range accordingly. The number of times your customer visits your store will also help you arrive at an approximate figure your customer will spend in a year on jewellery.
2. The feel good factor or emotional connect: Many customers buy jewels for sentimental reasons, auspicious moments or for gifting purpose. Most often buying jewellery often has an emotional connect. It’s not just a metal bought for investment purpose. Stores should be able to connect with customers on that emotional note. Special offers sent on wedding or birthday via mail or sms, announcing offers on festive occasions and more will help you connect with your customers better.
3.Lifestyle, trends & variety: Wearing more jewellery was a means to display status of a person sometime back. The trends have changed now. Jewellery is adorned based on the occasion. They need to be eclectic and relevant for the occasion. Sleek, chic, sophisticated or antique looking, rustic – your jewellery designs should stand out. It should appeal to the younger generation as well as the old patrons.
Customer Segmentation: Systematic documentation for analysing results
As a retailer you must be able to categorize your customers based on the information you have collected and segmented them into. Based on the segmentation you must present you jewellery designs to the customers.
- Based on the in-depth research done with existing customers you should segregate your collections and present them in a way that they make for apt casual wear, festive wear, daily wear or just the right gift. Segmentation will tell you that diamonds are preferred by the millennial, antique jewellery by artists, traditional gold by elders, gold coins by corporate HR as an effort to retain workforce so on and so forth.
- Segmentation( will also help you plan relevant promotion to the right audience. The details of the design and product can be elaborated to the relevant customers via email, sms, social media channels or call.
tematic communication with customer will build trust and long term relationship with your business.