DATA HAS SHOWN that foot traffic in jewelry stores has been declining over the last several decades, with the exception of the two record years coming out of COVID. However, something that appears to have remained fairly consistent is the number of jewelry repair customers; in fact, jewelry stores take in approximately 2,500 repairs on average.
Jewelry repair is a great way to bring in new customers and build relationships with existing ones. But what if you set a target to convert a percentage of these repair customers into fine jewelry sales? For example, 20% of 2,500 repair transactions would equate to 500 additional units sold.
Here are some tips for jewelry store retailers to convert jewelry repair customers into fine jewelry purchases.
1. When a customer brings in a piece of jewelry for repair, ask them about their needs. What is the jewelry being used for? What is the occasion? What is the customer’s budget? This information will help you make recommendations for replacement or upgraded pieces.
2. Showcase your selection of fine jewelry and new arrivals. Make sure to showcase your best pieces. This could include pieces that are similar to the jewelry they are having repaired, or it could include pieces that are more unique and special.
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3. Personalize the experience. This could mean offering complimentary consultations, asking about upcoming occasions, or it could mean remembering the customer’s preferences and making recommendations based on their past purchases.
4. Offer financing or layaway options. Not all customers have the cash on hand to purchase fine jewelry outright. Make sure to inform them of special financing options such as no payments for 12 months, etc. This type of offer can sometimes persuade the customer to make that purchase now instead of later.
5. Follow up. You want to make sure they are happy with their new jewelry. This could mean sending a handwritten thank-you note, making a phone call or inviting them back in at the appropriate time for a complimentary cleaning or polishing service.
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By following these tips, jewelry store retailers can convert jewelry repair customers into fine jewelry purchases. Here are some additional tips:
- Use social media to promote your jewelry repair services and to showcase your fine jewelry selection.
- Offer loyalty programs to reward customers for their continued business.
- Host in-store events and demonstrations to educate customers about jewelry care and maintenance.
- Partner with other local businesses to cross-promote your services.
- Create a win-win situation for your business and your customers by providing valuable jewelry repair services while also generating new sales opportunities.