Jewellery Retailing - Consumer Operations Guide

A Guide to Jewellery Retailing - Consumer Facing Operations

• This guide focuses on consumer-facing operations in jewellery retail, from store positioning to creating a lifetime customer
• Key aspects of jewellery retail include: new brand, sales, customer, offer, jewellery, gold, staff, welcome, philosophy, etc.
• The author advocates for "positioning" a jewellery store, going beyond a simple store to establish a recognizable brand identity
• The book distinguishes between a "store" and a "brand" – a brand has distinct qualities associated with it, fostering brand equity in the customer's mind
• Different types of jewellery retailers are considered: Personal Jeweller, Ethnic Jeweller, Modern Jeweller, Boutique Jeweller, Estate Jeweller, Main Street Jeweller, Chain Store Jeweller – each with unique focus areas
• Strategies for positioning an outlet involve understanding target audience, defining strengths, and crafting unique selling propositions (USPs)

The new 4 C's of Jewellery Retailing

• Current customer buying behaviour hinges on 4 crucial factors: Cost, Confidence, Convenience and Customer Service
• Cost: Customers consider the total value for their money, including making charges and wastage, in jewellery purchases.
• Confidence: Customers value trust in a brand through recommendations, after-sales service, discounts, and other factors
• Convenience: Convenience is a growing factor. Customers want information about price fluctuations, making charges, wastage, and design options, before purchasing in person
• Customer Service: Positive experiences during the purchase process positively impact customer loyalty

Ways to Have an Eye-Catching Jewellery Store Signage

• Signage is crucial for jewellery stores in India, as customers often seek auspicious signs and good omens
• Shop name boards should be bold, bright, and contrasting to the background, likely white with red or black lettering
• Directional and informational signs are also important for directing customers within the store, with examples such as "billing", "delivery", "estimation", and "parking", "exit"
• Persuasive signage is used to draw customers' attention, using images and creative punchlines
• Different signage types: painted boards, LED boards, and 3D boards. The latter give a more striking visual appeal. Digital signage with video streaming options can further enhance display.
• Signage should be appropriate to the target audience (e.g., polished, upscale designs vs. simple signage for a more casual target)
• Sizes of the letters: 10'' high for every 100 ft visibility

How to Design a Jewellery Outlet with Inviting Interiors

• Jewellery store design should emphasize space maximization and visual appeal, creating an auspicious atmosphere
• Displays should be prominent and eye-catching, featuring prominent displays for best-selling and signature pieces.
• Ample seating should be provided, considering the possibility of customers accompanied by elders
• The design should be customer-friendly, with easy access to counters and displays with the appropriate height.
• Lighting plays a critical role in enhancing the appeal of jewelry, for example, focal, case lighting, or use of low-hung lamps
• Use contrasting colours to highlight jewellery within the interior
• Use mirrors strategically to make the store appear larger and facilitate customer feedback
• Consider factors such as customer traffic flow, layout of counters, appropriate flooring (e.g., marble, vitrified tiles), lighting, and seating

Points to Improve Parking in a Jewellery Showroom

• Customers' experience is often negatively affected by trouble finding a parking space
• Providing adequate parking is crucial for a positive shopping experience
• Suggest solutions like dedicated parking lots, parking arrangements with surrounding shops, or valet parking
• Provide parking free of cost to enhance customer perception

Ways to Improve Your Jewellery Window Display

• Window displays directly impact sales by stimulating interest in customers who see them
• Display high-end, best-selling, or trending pieces prominently, within ample spacing
• Use strategic arrangements, including tiered displays or placement using props/models, to showcase designs effectively
• Contrastingly colored props, such as showcasing expensive piece by displaying it in a contrasting colour, enhance the appeal of the display
• The display must be eye-catching, using appropriate lighting, and evoking a theme, with some examples using specific holidays/seasons

How to Attract Customers to Your Jewellery Showroom

• First impressions matter: the storefront (including signage) is essential to attract customers
• Layout, decorations, and furniture are important aspects to include
• Providing clear and prominent directional signage
• Offer convenient, well-lit, and comfortable seating areas, taking into account potential accompanying elders

Keeping Operational Costs in Check in a Jewellery Showroom

• This chapter focuses on optimizing operational expenses for jewelry stores
• Reducing operational costs in a manner that doesn’t affect customer experience

The Dos and Don'ts of Customer Service for Jewellery Retailing

• Customer service is critical for success. Creating a strong customer experience is not only about politeness
• Treat every customer with respect, understanding that every customer is special and important
• Follow guidelines: greet warmly, listen, address questions, avoid pestering customers, be patient
• Be mindful of the customer's needs, considering their budget, and giving choices and options
• Avoid forcing opinions on the client, or compelling them to spend more than they anticipated
• Avoid being dismissive or impolite to any customer

It's All About Execution

• This chapter emphasizes the importance of implementing the previous chapters' strategies for consistent success

New Ideas/Topics/Issues

• Action Points: This section contains a table with suggested action points based on specific topics, with estimated deadlines

Your Suggestions Scheme System (SSS)

• Implement a system that actively seeks suggestions from customers, vendors, and staff
• Provide incentives, and understand the value in gathering feedback
• Recognize that not all suggestions will be beneficial or feasible

Time to Upgrade Yourself

• Continual self-improvement is encouraged
• The strategies and action plan provided are suggestions for improvement rather than a complete solution

Gifting Opportunities

• Suggest strategies to improve customer relations and encourage ongoing business with discounts/promotion strategies

About the Author

• Provide background information on the author's experience and expertise in the jewellery industry and the insights offered in this book

About the Book

• The book encapsulates an entire customer journey, from marketing to post-purchase relationship
• Practical guide suitable for customers in a changing market, with increasing competition and multiple challenges in retail

Explore the essentials of consumer-facing operations in jewellery retail. This guide covers the importance of brand positioning, customer relationships, and distinct types of jewellery retailers. Learn how to create a unique identity and leverage strategies for successful sales.