The jewellery is one business where the design and fashion changes very often. It is similar to the cloth business where every day you get new trends coming up. It makes difficult to maintain the customer inflow if you don’t have right things at right place. Here are few of the items which if not followed will ruin your jewellery retails and put you out of the competition.
- Standing out of the crowd
The most important thing to remain in the jewellery market is uniqueness. If you are unique in terms of presentation, design you will be able to stand out of the crowd. Instead of following the competitors you should make them follow yours with wonderful jewellery.
- Jewellery sourcing
In order to command high prices, you need to source jewellery that is not cheap and tacky. The cheap goods are available at every other store. Instead of buying bulk cheap jewellery you should buy few items that are niche to attract visitors.
- Changing the stock
The jewellery is the product which is bought after having attraction. Hence it is essential that you change the stock at regular intervals. By keeping the same items for too long it will keep the clients away from your stores.
- Avoid repeated selling items
If you have succeeded in selling necklace or pearl set it does not mean you should continue selling the same. You should bring in new styles and create scarcity to push up profits. Besides, you should keep limited editions of colors and sizes in your store.
- Over pricing
In order to earn more, you should not keep higher prices. Keep the pricing at reasonable level though you might feel of getting better.
- Poor displays
The presentation and display of your jewellery should be creative to attract client or else no one will know its speciality and worth.
- Saying No to Advertisement
You should invest properly in advertisements so that it pays you. If you consider it as a cost then you would be denied of the profits as a result of advertisements.
- Mixing of hobby and business
Starting jewellery stores as a hobby and not as business is a big mistake. Business should be run as a business.
Thus, these are few basic mistakes that should be handled early to make your business run smoothly without hurdles in between.