With the holiday season quickly approaching and a new year closing in on its heels, jewelers have an opportunity to pause and consider what it takes to make the most of their sales.
Today’s customers are often more concerned with making an authentic purchase than scoring a good deal. They want to feel good about their purchase—confident both in its provenance and in its representation—and they expect a positive, personalized shopping experience.
“The diamond industry, like many, has experienced a tumultuous few years, and as a result, has rapidly evolved to address new challenges,” said Sam Indelicato, director of jewelry at RDI Diamonds. “That evolution has revealed powerful insights into customers’ expectations and provided jewelers with the opportunity to reinvent how they interact with customers and sell diamonds.”
Here are three powerful ways to meet those expectations this holiday season and beyond:
Personalize the buying experience.
Diamonds are an incredibly personal purchase, often used to commemorate love between two people. Leverage that symbolism to connect with customers by telling a powerful story at the counter, linking the diamond’s origin and journey to the lifetime it will share with the buyer, and the love they have found. Technology offers tools for bringing that story to life, helping create a memorable experience for customers. For example, utilizing blockchain technology can create a secure chain of custody that confirms that a diamond is natural in origin, ethically sourced, accurately graded, and cut for beauty. Proof of ownership is offered via a permanent ionic table inscription, and customers have the option to purchase a non-fungible token (NFT), an immutable digital record of a diamond’s credentials, for added peace of mind and security.
Stock what you sell.
While this sounds like a no-brainer, it’s a powerful reminder that customers will go elsewhere if you don’t have what they want. Mobile phones make it especially easy to find another retailer in a matter of minutes, if not seconds. Rely on technology, including point of sale (POS) systems, to track what’s been selling in your business and ensure that it’s well stocked in your inventory. It’s likely to be tried-and-true classics, like round 1 ct. diamonds, and perhaps a trending style that you’ll also want to have on hand. Trusted relationships with reliable diamond suppliers can help ensure that you have ready access to other high-quality diamonds through memos and quick shipping options.
Know what the competition has to offer.
Your competition runs wide and deep thanks to the internet, but you can stay in the know by keeping tabs on the industry you share. Find retailer buying events and roundtable discussions and participate in joint conversations with other industry players. Social media also provides a powerful platform for staying connected. Follow your competitors and encourage them to connect with you. Interactive discussions can spur ideas and create relationships that will benefit both sides and the relationships you have with your customers.
Partnering with a trusted diamond supplier like RDI Diamonds can help you effectively plan for a busy holiday season and new year and ensure that you have what it takes to win customers’ business and their loyalty. For more advice and information, see rdidiamonds.com.