Valentine’s Day Retail Tips for Jewelers
Published on: February 1, 2021
Last updated: January 31, 2021
- What to expect this Valentineâs Day?
- 5 Valentineâs Day Retail Trips for Jewelers
- 1. Aim low this year instead of over-promoting your higher-priced jewelry pieces.
- 2. Train your salespeople how to describe your jewelry in a virtual setup.
- 3. Direct the conversation towards an upbeat path.
- 4. Organize a virtual showroom.
- 5. Attract them with your packaging.
- How do you sell jewelry for Valentineâs Day?
Are you looking for some Valentine’s Day retail tips to drive your sales on this special day? Look no further! We’re letting you in on five (5) of the most relevant and customer-convincing strategies when selling jewelry to sweethearts. Read on!
What to expect this Valentine’s Day?
According to the National Retail Federation (NRF), only 52% of the US adults plan to celebrate Valentine’s Day this year—accounting for a total spending of just $21.8 billion compared to last year’s $27.4 billion.
The main culprit behind this decline is none other than the consistent front and center pandemic. Seventy-three percent (73%) of those celebrating the special day this year still believe in the importance of spoiling their loved ones, especially given the current situation where physical contact is limited.
Included in the planned celebrations are dinners at home, gift-giving like candies, greeting cards, chocolates, and jewelry, among many others.
Given this year’s decline in spending, it’s critical for you to be present where your customers are.
Tailoring your sales and marketing strategies to your customers’ shopping behavior provides you with increased sales opportunities. As such, if they’re online, you shouldn’t be spending too much money on other channels that do not reach them.
Here are five (5) Valentine’s Day retail tips when wooing your lovestruck customers on this special day.
5 Valentine’s Day Retail Trips for Jewelers
1. Aim low this year instead of over-promoting your higher-priced jewelry pieces.
Given that the average spend this year has decreased from $196.31 to $164.76, it’s important to promote or stock up on jewelry pieces under $200.
According to Crabtree Consulting, as quoted by Instore Magazine, Valentine’s day is a hallmark holiday where the average spend usually falls under $200. Many jewelers might forego promoting Valentine’s Day, thinking that customers don’t spend on gifts under $200 or feel that there’s no reward in selling these items, especially when they factor in their tangible and intangible investments. However, it is these low-priced items that often lead to bigger sales. Further, data shows that women who received an engagement ring often received another jewelry gift within 12 months before receiving their engagement ring.
Look at the bigger picture and try not to exclude these customers. After all, statistically speaking, going against the curve only sets you up for failures. So, go ahead and install your designated visual display of products in this price category.
2. Train your salespeople how to describe your jewelry in a virtual setup.
Are you familiar with this popular oddball interview question, “how would you describe a color to a blind person?”
You can apply this concept when describing jewelry products, too. In a world of digital shopping where tactile experience is not available, your salespeople should be competent enough to communicate “touch” to prospective buyers who cannot touch your products.
For example, how would you describe the weight, feel, and texture of the jewelry to your buyers online or over the phone in a way that would make them feel that they’re touching them themselves?
Aside from using texts and words, you can also utilize visual assets. For example, a high-quality 360 video of jewelry can convey these characteristics clearly. Take a look at the example below.
By looking at this 360 video of a silver ring, you’ll know right away that it has a soft, feathery texture. It also shows its cut out band as it rotates.
3. Direct the conversation towards an upbeat path.
Sometimes customers, especially long-time, repeat buyers, tend to overshare or talk about their feelings before purchasing. For example, with this pandemic going on, it’s inevitable to have a conversation without touching on the negative situation. When negativity leans on your counter, greets you online or over the phone, be empathetic, but try to direct the conversation towards a more optimistic path. Do not dwell on the misery.
Remember, your customers are buying gifts for Valentine’s Day. They are longing for normalcy, and this gift is a way for them to escape and forget, even for a day, all the bad things around them. Make them feel good.
4. Organize a virtual showroom.
A virtual showroom is one of the many live content ideas that can boost your sales; thus, if you’re running Valentine’s Day sales and promotions, couple it with a live event to make it more interesting.
To plan it, send discount vouchers, coupons, and codes to your repeat buyers or target customers and invite them to your virtual showroom where they can use those coupons.
On the live event, connect with them on a personal level—talk about their Valentine’s Day plans and ask them about their gift ideas. You can also suggest trending gifts and, at the same time, showcase your new designs, upcoming collection, and ready-made jewelry in their price category. It’s like a VIP event for your loyal customers and/or avid followers, so make it fun and lively.
5. Attract them with your packaging.
Indeed, a no-brainer—packaging attracts customers.
I recently bought a gift for a friend, and when he received it, the packaging was so beautiful, he almost didn’t want to open it. Right away, without seeing what was inside, the recipient already felt special. This is the kind of feeling you want to establish with the recipient, and in the process, with the giver.
Packaging is one of your selling points. While it matters all day, every day, it matters more on special occasions like Valentine’s Day. On this day, people give gifts to celebrate love; sloppily wrapped gifts could ruin the mood.
You must note, however, that beautiful packaging doesn’t always mean expensive. Take time to look for affordable but excellent packaging materials. After all, packaging is more than just a box. It is your brand image.
How do you sell jewelry for Valentine’s Day?
And there you have it!
Which of these tips are you trying, and do you know other Valentine’s Day retail tips to share with our readers? Leave them in the comment section below!