Have you ever gone to an art gallery full of great paintings but couldn’t find one that you would buy? Have you tried to buy a painting for that special spot in your house, but can’t find anything you like? Have you ever gone to buy a painting, but with no idea how much it would cost?
Now, think about how this relates to your jewelry store. Do customers ever come into your store but walk out because they can’t find anything to buy? Do customers come in without an idea of what they want to spend? Do customers have an idea of what they will pay, but you sell them something for much less, or, hopefully, much more?
I challenged a jeweler with these notions. She then took a tour around her showcases and to her shock (and horror), she told me she couldn’t find a single piece of jewelry that she would wear herself. Isn’t that sad? When people come into your store and can’t find anything to buy (and wear), they walk out and never return because they see that you don’t have their kind of merchandise.
When I go to a jewelry show, I’m always amazed at the beautiful, expensive jewelry that some suppliers create. These suppliers have the courage to invest, in some cases, millions of their hard-earned dollars in these beautiful pieces with the hope that some jewelers would have the courage to purchase them, with the hope that some wealthy citizens would find them, love them, and buy them. Many jewelers look at this beautiful jewelry and say that no one would pay that price. So they never venture beyond what they have purchased before, and that’s why they tend to stay the same year after year, or, more often, show subtle, but steady declines.
It is very interesting to speak with so many jewelers over the years who have been in the industry, often for decades, but still don’t know what they should buy. Many people with good money to spend on high caliber jewelry don’t know where to go to buy it because they can’t find it in the average jewelry store. Don’t be an average jeweler. Be a fine jeweler who sells quality merchandise. After all, what is jewelry, but art that can be worn for special occasions, if not every day?
Contact us if you want to take your store to the next level.