Thereis rigid competition in the jewellery retail business and every day changes incustomers demand and needs. With the change of customer behavior you shallconcentrate on retaining customer. Efforts to sell and promotion are no longerworking as it used to be earlier. You have to spend lot of money on advertisingand other marketing polices. In such a scenario, it is pertinent that theretailers iron out their inefficiencies in order to maximize sales, more soconsidering that they are the ones whoare in direct touch with the end consumers. The question is how to respond tothis challenge, remain competitive and gain market share.

 

Doyou realize that you can increase your sale without spending money on advertising?How would you, feel if you could build a one to one relationship with each andevery customer to the point where they will work as marketing executive for yourbusiness? Earlier the shopkeeper waited for new customer to step intohis shop but were not considered their existed customers. Changing of time nowshopkeeper understand their old customers are as important as seeking new. Itcosts less to sell to existing customer whom you already have than to sale new customer,so give strength to the roots of faith.

 

Keep in touch with existingcustomers

 

Always stay in touch with yourexisting customers. Remember it is easier to maintain an existing customer thanto acquire a new one. Make them feel special by offering them "special customeronly" services. Maintain a follow-up schedule for customers. Remindthem that you are there to help them with their future purchases. Use your database to keep track of clients' preferences and inform them about new arrivals.

 

Focus on existing customers

 

The Customer is king so more attentivelylisten them. Don't neglect them; concentrate over their demands so it will beeasy to understand what they want.

 

Make the customer your brandambassador. Keep in notice all theirs compliments and their satisfaction foryour products, their variety, packaging or display asks them to get it batter.Most people won't mind doing this, especially if what they have said iscompletely honest. You could say something like: "Thank you for yourcompliment! Can you please put that in writing for me so that I may use it as atestimonial to show my prospective customers?"

 

Not only take their suggestionsguide your customer about your product, Help customers when they seeking youradvices i.e. what would be the ideal gift for their fiances

 

Don't avoid existing customer:

Once I wanted to buy a gift formy sister's wedding. A very simple lady came to store; no one wanted to attend her.I asked them why you are ignoring her. They whispered that she is verytalkative and fussy. After a while a New salesman attend her listen her calmly.He understood her choice and made sale of 60000$ necklace to her. It was agreat wondering job done by him and it taught me that if new costumers are goldthen old costumers are precious like diamond.

 

Astonish customers with perks:

 

Offer incentives to existing customersfor more referrals, like a discount off their next purchase, or freebies. Suchgenuine feedback can reinforce your prospective customer's faith in yourproducts and attract them to your store.

 

Various sorts of perks work bypulling in the customers for later purchases and make your showroom the mostoften used store.

 

Attempt for add-on sales, as soon as the main purchase isdone-which is when your customer is most vulnerable.

According to experts, the rule of the thumb is that the value of an add-on sale should not be more than 25% of the original sale value, thereby eliminating the need for a major purchase decision. For example, if the original sale was for 10,000$, it is least likely that an add-on sale of worth more than.2000$ will click.

 

Despite the fact that shoppers may be propelled towards a second purchase, they still have a mental limit as to the amount they will dispense. Use words like "incidentally" or "by the way" to 'soften' your offer. For instance, "Thank you for selecting our product."

 

Also pushing for add-on sales too early in the call might put the customer off and you could even end up losing the original sale. Remedy: Sell first and tell later-never attempt to up-sell until the first order is closed.


Lease out jewellery to gain popularity

 

You can offer your jewellery on rent against a deposit for regular customers? This concept on gaining popularity in the west with a number of online and offline retailers offering its customers collection of designs to choose from. This allows the end customers to easily procure jewellery of their choice in case there is a special occasion; or just allows them remain at par with designer trends. Retailers can work upon a scheme especially for the marriage and festive season for their established clientele.

 

Old provides you gold

 

More often than not, new consumers tend to stick to their elders preferences. Psychologists call this as the status quo bias. This status operates in Indian jewellery market with gold jewellery being the eternal piece of choice.

 

Why is it that people prefer their current rank despite an opportunity of improving their utility by trying out something different? The reason is the uncertainty factor involved in a new shop. When it comes to gold jewellery, there is a comfort level for the consumers by preferring their heritance showroom.

 

So treat your existing customers well s they may make their whole generation your customer.

 

Greet customers on special occasion:

 

Jewellery customers tend to reveal their maximum personal details while purchasing and in spite of knowing in advance the occasions of celebration, majority of the retailers are not bothered to send a bouquet or a greeting card. Even otherwise, no follow-up thank-you card is dispatched, though most purchases are in upwards of five-figures. So don't mince words, but honor your commitments

 

"Ours may be the only industry that has little regard for after-sales service and for most; it is nothing more but a wide artificial smile after the payment is received"

 

A good customer service which includes provision of care to customers from pre-service to after sales service can put you ahead over your competitors and induce them to keep buying from you.

 

Therefore treat your existing customer as an important part and partial of your business. They are the one who will provide prosperity to your business in return of your efforts and will add many more customers to your business chain by persuading others.

 

 

The author is Asst. Professor of Jewellery Design