Needless to say, the wedding industry has taken a beating from the pandemic. In the United States, at least 62 percent of wedding receptions have been postponed, and micro-weddings with less than 20 guests are becoming a new norm. However, despite delays and limits on social gatherings, there’s a marriage tradition that hasn’t changed: sealing the deal with a diamond engagement ring.
Turns out that without expensive weddings and travel to spend on, fine jewelry is in high demand. That’s great news for jewelers, but our new reality demands that they rethink strategies to reach buyers and win business from a swelling competitive field (i.e., the internet).
Here are some tips to capture bridal jewelry sales in today’s market:
• Remember you aren’t selling to the same buyer. Millennials and Gen Zers make up the majority of today’s buyers, and they have perspectives and buying habits that differ greatly from earlier generations’. They are looking for authenticity and value over inexpensive deals, and want to feel good about what they are buying.
• Trust and transparency is key. Local jewelers offer service and support that online sellers can’t match (and younger generations, especially, like to support and buy from local businesses). You can provide value and peace of mind to your customers by helping them understand exactly what they are (and aren’t) buying. Rare & Forever—a brand of natural diamonds that are hand-selected and graded by A.I. technology for accuracy and consistency—was created for this reason. With Rare & Forever’s advanced grading reports, customers can feel confident in their purchase.
• Differentiate your inventory. Know what your customers want and understand how to provide it. This means thinking ahead, securing timeless and unique diamonds, and making inventory buys that ensure your offering is superior and readily available, so that your customers don’t look elsewhere. Tout what others can’t by offering new collections that reflect classic and trending styles in a range of metal types and carat weights.
• Supercharge your sales staff. Going toe-to-toe with online sellers who often offer lower prices requires jewelers to arm their staff with knowledge and resources. They need to be able to compete in store and online. Ensure that they can articulate values beyond price tags. For example, it’s important to educate consumers on the superior long-term value of natural diamonds over lab-grown diamonds.
“People will be ready to get back to the celebrations they put on hold last year, putting jewelers in a good position for selling diamonds. It will be important for jewelers to continue to acknowledge the shift in the way customers want to buy and to continue thinking out of the box on the products they are selling,” said Andrew Rickard, vice president of operations at RDI Diamonds. “Rare & Forever is arriving on the scene just in time to delight diamond shoppers with its beauty, transparency, and value.”
For more information on Rare & Forever and how to become an authorized jeweler, visit: rdidiamonds.com/retailer-resources/client-promo-tools/rare-and-forever.
To read the original article in JCK visit: https://www.jckonline.com/sponsored-content/diamonds-marriage-covid