Help your customers find their own authentic meaning to your jewelry offerings. Use an approach of learning what stimuli best motivates each jewelry shopper. Develop your marketing communications for upcoming holidays around advertising copy that provides the right stimuli to motivate value-oriented customers. Remember, value is subjective and jewelry is an emotional purchase. So build value through addressing all the reasons why the customer will benefit from their ownership, gift, self-gifting or wearing of jewelry . . . and leave the price discounts as a discussion to be held only with a shopper who has already bought into the value of the proposed jewelry.
When price objections come . . . and they will be sure to train sales
associates to offer service as a rebuttal. Now all of those added value services that the company so dearly pays to offer have to make a meaningful impression on the shopper. What does your store do to earn the business? Free appraisals and free cleaning are rather universally offered. What does your store do that others do not? Ask yourself, why should shoppers buy from my store instead of the competition? Most people start with mentioning themselves and their own sales abilities and ability to help shoppers gain the self confidence so many of them require to make a jewelry purchase. That is as it should be. Now what else does your store to do earn the business? What sort of guarantee or exchange
policy or warranty programs do you offer? Do you have a trade in policy?
Consider how many dollars you put into advertising and visual display and
quality sales representation. There should be an environment that the customer wants to buy from. The more the customer lacks the motivation to buy the more they will negotiate on price. What they are saying is, “I like the item, but I am not convinced the value is there so help me justify the purchase with a lower price.” Your opportunity is more firmly secured by knowing how to sell value through providing the most effective stimuli to motive the buyer to purchase the jewelry than it is to try to sell a lower priced piece of jewelry. Every time you discount the price of the jewelry and the shopper still does not buy, what is that telling you? If should tell you that the buyer was not sold on the value of the jewelry more than they were objecting to the price. Selling on price will not be as effective as stimulating shoppers to become buyers through value based solicitations. Find the reasons why individual customers need to buy a gift of jewelry for themselves of others. Lead with those sorts of messages in advertising and other marketing messages.
Value-oriented jewelry shoppers will respond to the stimuli that gets them in touch with their feelings . . . about their loved ones . . . how rewarding it is to wear jewelry . . . how worthy they are to treat themselves to something just a bit expensive every once in awhile, etc. Give value-oriented shoppers the reason to buy jewelry and leave price negotiating to the most serious of customers. Selling price before value is a very expensive proposition that is even losing its effectiveness with value-oriented shoppers.