Are You Chasing This $4 Billion Market?

What $4 billion gift market is the jewelry industry firmly entrenched in
with many generations of purchases and is red hot with sales right now? What
retail jewelry store shouldn’t be communicating to customers right now
regarding their offerings that make perfect gifts for graduates? Watches are
the historical poster child for jewelry graduation gifts; however, many other
types of jewelry can also be the perfect selection for many jewelry buyers. The
National Retail Federation is predicting spending for graduation gifts will be
up this year.

Niche marketing can be very for retail jewelry companies of all sizes.
Understanding how to maximize transactions within each niche market is critical
to the success of all retailers in today’s economy. Defining markets based on
buyer motives is an approach that has been proven to be very effective for many
retail jewelers. Graduation is one of those markets that include buyers who are
family and friends. Your hard work to define buyers by gift giving occasions
can pay out big dividends if you have recorded the information and know how to
use it for database marketing purposes. Now is the time to effectively mount a
marketing communication campaign that includes both traditional media and
digital marketing.

Retail jewelers need to be proactive in approaching
prospective gift givers of graduation jewelry gifts. Jewelers need to pre-sell
the gift giving benefits of providing a gift with lasting meaning . . . and not
allow gift cards to continue to erode this market. Demonstrate the keepsake
value of tangible jewelry gifts and earn more sales in this important niche
market.