A study by SpendingPulse reported jewelry sales to be up 8.4 percent in 2010 over the previous season and expects the trend to continue in 2011. Core jewelry buyers are said to be back while another target for jewelry marketers this season are the aspirational buyers (those consumers who typically buy jewelry less often). Building store traffic is once again a top priority to capture holiday sales.
Expect shoppers to still be very value-oriented. Price doesn’t mean everything to value-oriented shoppers. Selling value means offering the right product for the right price and not missing the opportunity to position added-value services that differentiate your store offerings. Make sure sales associates are selling the relationship and not just the jewelry item even when the store is full of shoppers. Earn more business with value-oriented shoppers by differentiating your value proposition. What can you offer that others cannot? Value-oriented luxury shoppers want to be engaged with exclusive offerings and be presented very relevant (individualized) shopping experiences.
Now is the time to plan post-holiday sales. Be sure to have sales representatives document the specific items shoppers express interest in for themselves and to gain permission to contact them after the holidays. Begin to build your contact list now for email marketing campaigns with individualized post-holiday offerings.
What special offerings or events, etc., do you have planned for your most loyal customers? How do you propose to motivate these most prized customers to visit the store? Are sales associates offering to set appointments for your VIP customers? What sort of rewards are you offering them for referrals?
By now your holiday advertising is probably set. Consider checking back with each media and asking for assistance in developing public relations releases to gain more exposure with holiday shoppers. What educational information regarding jewelry might you offer to holiday shoppers? This is a proven way to gain more media exposure without having to pay for advertising. What other ways might you build more store traffic?