SEP 11, 2013

5 mistakes jewellery retailers make

If you’re new to the jewellery selling business then I’m going to go ahead and say it – you’re going to make mistakes. We all do. It’s a natural part of the learning curve.

The thing is though; even some veteran jewellery sellers make the same mistakes time and time again.

In this blog we’re going to look at 5 of the most common mistakes so that you can avoid them.

Not sourcing unique

First and foremost it’s all about your stock. That’s the thing that’s driving your business. If it’s of a poor quality it won’t sell. If it’s like everything else out there, it isn’t going to sell.

When you’re looking at wholesalers make sure that you shop around. Don’t simply plump for the things that you think are attractive. Go for pieces that are different from the traditional. People love unique.

Over pricing

In the current economic climate, people are a little dubious about spending tons of money on things like jewellery. If you’re over pricing your stock you’re going to struggle to make a sale.

Obviously, you need to make a profit. But make sure that you don’t make your product unattainable for your target audience. Find some comfortable middle ground.

Ask your friends and family what they would pay for the jewellery pieces that you stock. This should give you a good starting point.

Not stocking variation

To make sure that your customers return time and time again you should stock a wide variety of pieces. Stocking just one style will mean that customers will only turn up at your site when they want something specific.

Become their one stop shop. Offer them a huge variety.

Not bothering with advertising

Advertising is one of the most important parts of running a business. Without it, you aren’t going to generate any sales.

Many people think that it’s an expensive thing to do but it isn’t. There a plenty of techniques that you can employ to market your business on a budget- social media, leaflets, discounts and so on.

Never neglect advertising. Your business will fall behind without it.

Not taking the business seriously

If you want something to be a success you must give it your all. Don’t consider your business a hobby. Think of it as your living. Even if it isn’t.

If you merely think of it as a hobby you aren’t going to put everything into it. 

Created on 11th September 2013
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