Addressing the 3 Common Challenges in the Jewelry Business
Every retail business faces unique challenges once in a while. It is important that you address these challenges and ensure that they don’t affect your business’ bottom-line. Here are 3 useful strategies that you can use to address these common challenges.
1. Address Slow-Selling Jewelry Items
Slow selling products that remain on the shelf for long can affect your jewelry business’ growth. You can run special sales from time to time to increase their sales. There can be different types of items that can be categorized on the following basis:
- Seasonable items
- Sold the least every quarter
- Lack in sales for at least a month
- New and slow-selling products
One way to address this is by providing discounts on such items. Run special offers through online ads, which are much more cost-effective compared to offline ads. This should help you sell slow-selling products and draw new customers to your business.
2. Mobile-Friendly Online Store
It is highly likely that your website, if you have one, is not mobile friendly already. With almost everyone having a smartphone, more people are now shopping for jewelry items on their mobile devices. So make sure that your website is mobile friendly and renders effectively on mobile devices.
Studies show that 6 in 10 people are likely to leave a website if it is not mobile friendly.
- Embrace responsive design
- Optimize your website and make site search a powerful feature
- Your website should also faster
- Make the mobile shopping experience simple and quick
3. Automate Email Marketing
Whether you are selling the most beautiful pieces of pearl jewelry or diamond jewelry, you shouldn’t ignore the importance of email marketing. As a jewelry business owner or manager, you are not likely to have the time to manage your campaigns. So it is best to automate your entire email marketing campaign to send out relevant messages to your subscribers in a timely manner. It will not require your intervention, as messages will be sent out based on pre-set trigger.
- Email marketing automation helps make your marketing process more effective and smoother
- When someone places an order for pearl jewelry and abandons the cart, the automation software will send them reminders about their cart, encouraging them to complete the transaction
- Sending manual emails can be an extensively time-consuming task
So make sure to follow these tips to overcome challenges and drive more leads and sales for your jewelry business.
