Competing in a Changing Market

The Internet has helped consumers obtain fine-jewelry education, discover more product options, become price conscious, and enjoy immediacy in obtaining jewelry. Jewelry retailers can compete by developing clever marketing, being attentive to customers, having a market niche, and positioning oneself as an expert. The rise of “retailtainment” means retailers' success will depend on the experience and atmosphere, not just the product. Stores like Apple, Starbucks, and Sephora create an environment where people are encouraged to linger, try products, and hang out. Maybe it's time to create a jewelry lounge with an espresso machine or a private area where customers can try things on and have fun with the jewelry. A children's toy area would allow busy moms to peek at jewelry while their kids play. Jewelers also can investigate methods to make the shopping experience more interactive an
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