Articles and News

Burlington, NJ--There is something very unique that makes running a jewelry business different from running most other businesses. I’m sure you’ve heard it before, but we are in a unique position to be a part of some of most important events of our clients’ lives. We are in the business of celebrating and it is important to remind ourselves that we are not only out to improve our bottom line but also build on the long term relationships that our industry was built on. It is important that we continue this tradition because trust will be what sets us apart from our competition and keeps our clients coming back.

But what we keep hearing from our retail clients is that this concept is lost on the next generation of buyers. They are accustomed to shopping online and changing their look everyday. We believe it is a two-step process of first gaining trust and then being relevant, but luxury jewelers often assume that being relevant means proving you are “not Grandma’s jeweler.”

Not necessarily. In fact, if we can’t initially reach them, let Grandma help teach her children and grandchildren the value of a trusted jeweler. Remind them that we are a part of their family because we have celebrated with them over the years and we want to continue that tradition.

Millennials may be used to disposable fashion and shopping online, but they love their family. Repeated studies have found the Millennial generation is far more family-oriented than the Baby Boomers were at their age. The famous “generation gap” between young Boomers and their Depression/WWII-era parents simply does not exist for the Millennials. They’re not rebels; in fact, they’re very likely to have a close relationship with their parents and grandparents, and consider them as much a friend and confidant as a parent. So if the front door is closed (i.e. a direct pitch), try the back door. That relationship could just be the entrée you need to reach and resonate with Millennials.

Plan ahead and offer multi generational events in order for your older clients to bring their families into the store. Most stores have ladies’ nights, but what about a “Multi-Gen Party” where you offer services like professional photos and heirloom restoration. It will be an opportunity to share your memories of past sales and to make a personal connection with a new client through the words and presence of someone they trust.

The key to keeping these new clients is following up through every aspect of social media. Ask if they want to sign up for you newsletter that features the latest fashion trends available at your store or offer a percentage off their next purchase if they like your store’s page on Facebook. This is something you can offer parents in case their children and grandchildren can’t be torn away from their laptops to make it to the event. The next time your client purchases something like a graduation present or an engagement present, offer to set up a “jewelry trust” that their recipients can later come in and benefit from. Include a card in the gift that offers them a free fashion consultation with one of your younger sales staff to help them pick out a piece that best complements their unique style, perhaps with an added percentage off if you wish. Add-ons and in-store exclusives like this will make the experience worth looking up from their iPhones, and keep you relevant and competitive.

So now, not only does mom trust you, but you are cool, too. How can they not make a smart investment with you?

Born of the minds of two women with an educated passion for fine jewelry and the art of its design, Fiabane & Kroh specializes in fine jewelry appraisals, sales training and consulting. With a foundation built on time honored jewelry practices and knowledge of current economic climates, Fiabane & Kroh aims to inform and inspire with an innovative approach. Visit www.fiabaneandkroh.com or email info@fiabaneandkroh.com.

Top image: karplaw.blogspot.com