To stand out, retail jewellers must place a renewed focus on creative packaging, eye-catching displays, and compelling decor that stops customers in their tracks and draws them into the store.
The world of blogging may seem daunting at the outset, but it can be an important business tool that yields long-term results, growing your customer base and establishing your business as an authority within the industry.
Technological advancements are continually changing the way retail operates. As such, retailers have but two choices: keep up or lose out. The mass adoption of online shopping means physical shopping must continue to evolve into a more immersive, entertaining experience using the latest technology to woo consumers into stores.
Savvy business owners are cashing in on the new phenomenon of pop-up shops. This increasingly popular form of marketing and promotion allows retailers to reach a wider audience through temporary high-traffic venues.
Pinterest has been grabbing headlines recently, its popularity soaring to new heights. Referred to as the social media service of the future, the site has 70 million users worldwide and that number is growing.
For jewellery retailers across Canada and the United States, price comparisons by savvy consumers has created a race to the bottom for non-branded products like chains, diamond stud earrings, or garden-variety wedding bands.
We live in an information-rich world where the latest data and trends are easily found online. By the time many customers actually enter a store to make a purchase, they have fully researched the product and may have a few in-depth, technical questions to discuss before completing the transaction.
Although the luxury industry has slowly recovered following the 2008 U.S. housing crisis, lower retail prices combined with higher wholesale and supplier pricing is shrinking profit margins across Canada and the United States.
For Canada’s independent jewellers and diamond suppliers, competing with online diamond giants can feel like a losing battle. It’s the typical David and Goliath scenario, and as with the Bible story, all is not as it appears.
