customer looking at a pearl jewelry

Knowing the Mistakes Jewelry Store Owners Should Avoid

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Similar to other industries, the jewelry industry also suffered setbacks when the pandemic started. They had to deal with the lack of sales, which affected their revenues. Hundreds of stores closed after the health crisis forced consumers to stay home to avoid the virus.

But the industry is optimistic about its future as the situation improved over a year after the pandemic started. Despite this optimism, jewelry store owners should work on increasing their revenue as the economy continues to improve. To increase the chances of succeeding, they should avoid some mistakes that can affect their business. Here are the mistakes to avoid.

Targeting Different Niches

Jewelry stores should focus on a specific niche in their industry. They should avoid targeting everyone in the industry since it will require them to increase their inventory, which is not practical for the jewelry business. For instance, they should decide if they want to target affordable fashion jewelry or the high-end jewelry market.

When these businesses focus on a specific market, it also allows them to develop a suitable marketing strategy. They should remember that there are some differences in the marketing strategy of different niches.

Focusing on a specific niche also allows them to increase their knowledge about the products to offer in the niche. So, focusing on a particular niche in the jewelry industry is essential to increase the chances of succeeding in the market.

Using Low-quality Images

The pandemic saw an increase in e-commerce activity after more people shopped online for their needs. Jewelry owners who want to take advantage of the situation should increase their online presence by creating a responsive and user-friendly website that is pleasing to the eye. They should work with skilled web developers to ensure their websites stand out in the market.

When they upload images to the website, they should use high-quality images. If they have limitations on the quality of their pictures, jewelry store owners should work with a company offering retouching services for online jewelry stores. The company should have the capability of enhancing its images and making them stand out on the website. So, Jewelry store owners should look for a company with the tools and experience to work with jewelry images and make them come to life.

The website should showcase its products and entice customers to buy them. Jewelry store owners should also build trust in the market by adding different elements that increase their legitimacy in the market. They should show the history of the business on the about us page of the website. Additionally, jewelry store owners should ensure the security of the confidential information of their customers when they buy their jewelry pieces through their websites.

Neglecting Brand Awareness

Jewelry store owners should also build brand awareness online. Even if existing customers already recognize their brand through physical stores, going online allows them to reach markets beyond their locality. And these markets have no idea about the business. So, jewelry store owners should focus on promoting their brand online.

Aside from enhancing their brand, jewelry store owners should also build trust in the market. Around 59 percent of consumers buy products from brands they are familiar with. And enhancing the brand will increase awareness in the market. And when more people become familiar with the brand, its trust level will go up, which will lead to more sales in the market.

Overlooking Social Media Platforms

Jewelry store owners should recognize the importance of using social media platforms in promoting their products. With around 72 percent of American adults using social media platforms, social media marketing continues to be a good way for businesses to connect with their customers.

So, jewelry store owners should create social media accounts to reach their market. They should also use social media ads to promote their products in the market. While it requires a small investment, they can look forward to a considerable return on this investment. So, they should make sure to incorporate social media marketing into their overall marketing plan.

Neglecting Existing Customers

customer buying a jewelry pre-pandemic

Many jewelry stores already have existing customers who patronized their products before the pandemic started. Jewelry store owners should not overlook these customers since they already know about the brand.

Selling to existing customers is easier compared to selling to new customers. So, jewelry store owners should connect with their existing customers and give them discounts when they buy their products. They should continue engaging these customers and encourage them to promote their products to their family and friends through word-of-mouth marketing.

Jewelry store owners should avoid mistakes that affect their revenues as the pandemic continues to affect the country and different parts of the world.

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