How Retailers Can Make the Most of Any Bridal Budget

Bargain hunters or big spenders, brides are united on at least one point: They’re seeking service that makes them feel like a million bucks. When it comes to the $11 billion wedding jewelry industry, the truth is that not all customers are created equal: Some are swimming in cash, while others are barely staying afloat. Despite the varied nature of bridal budgets, however, the good news is that the national average cost of an engagement ring remains at $5,200, according to research The Knot conducted in 2011, the most recent data available at press time.So as a retailer, how do you navigate the bridal waters? Put simply: Cater to your clients. That is, get into their heads, carry the merchandise they want (and can afford), create and nurture relationships, and think strategically about how you market to these folks. Of course, it’s rarely as simple as it sounds, so we asked top jewel
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