How Jewelers Must Change For Future Customers
The jewelry retailer has always been challenged to keep a diverse inventory that will appeal to the tastes of their changing customer base. But when Business Insider observes that the latest shift in teen spending is killing brands like Tiffany, the challenge intensifies.
Why are teens turning their backs on a traditional luxury brand like Tiffany? According to the article, young people prefer to spend their money on experiences and/or technology. They are not as interested in classic investment jewelry you can wear for years but there are still ways to appeal to these future customers.
If jewelers are going to attract tomorrow’s customer, the way that customer interacts with your business need to be in line with their expectations. JCKonline has some good suggestions for crafting an in-store experience to attract Millennial shoppers:
- Look at your store’s decor and lighting with a ruthless eye and update to high-end hotel lobby standards.
- Have a social media presence and encourage customers to share their experiences by tagging your store in selfies, for instance.
- Offer free wifi and let customers select playlists for music streaming.
- Have a digital catalog available that supplements your inventory.
- Stock pieces that can be customized both online and in personal consultations.
- Train staff to answer questions on selecting jewelry, the story behind the pieces, insurance tips, and more. Add these FAQs to your website along with reviews and links to pertinent information.
ChainDrive’s Software for Jewelry Retailers has the capacity to facilitate customer relationship management, custom orders, and more. Putting an integrated software solution in place enables a flexible approach to future demands. This gives the jewelry retailer the foundation necessary to handle all the data and the details in a growing business.
Since customers are changing, retailers must also change. Providing the next generation of jewelry shopper with personalized experiences, a sense of connection, and customized pieces meets their expectations and builds loyalty.