Like bread and butter or peaches and cream - the connection of women and jewelry is powerful and primal. What makes it tick? Romance, beauty, sentiment, symbolism, all factor into this elemental relationship.
The jewelry industry revolves around women. Although men traditionally gift jewelry to women, and men’s jewelry - from watches to wedding bands - is a constant, women have always been at jewelry’s core.
Today more and more women are purchasing their own jewelry. The self-purchasing woman is an important emergent trend to factor into all your business decisions from marketing to inventory.
Today’s woman tends to be more financially independent. She has disposable income. She’s not restricted by the conventional frameworks of previous generations.
Older generations, brought up traditionally, tended to marry younger. Women were used to getting important jewelry as gifts on all commemorative occasions - birthdays, anniversaries, holidays. Such women still may have to cross a threshold to feel comfortable buying important jewelry for themselves.
Even today you may encounter women who are not used to making major jewelry buying decisions on their own. They may have disposable income and be interested in jewelry, but by tradition do not buy major pieces for themselves. Sometimes just a suggestion - “Why not treat yourself?” will be enough to break a barrier. Women traditionally have been brought up to always think of others. A hint of encouragement may be enough to make them feel comfortable treating themselves.
Younger generations tend not to have such taboos. Today’s independent, self-supporting woman is interested in important jewelry and is comfortable buying it for herself. She’s attuned to fashion and considers jewelry as part of her fashion wardrobe.
When selling women’s jewelry it’s important to focus on who’s making the buying decision. Is a man buying jewelry for a woman? Is a couple together deciding on a gift? Or is it a woman making her own purchase? As you focus on who’s making the decision, you need to adjust accordingly. Selling women’s jewelry to men, to couples and to women requires different approaches. A man may want assurance that his gift is significant, that it will make an impression. A woman may be more interested in fashion, color and beauty. Look for signs she’s emotionally bonding with a piece that moves her.
Do you have the right mix for your clientele? If your focus has been mainly on bridal, consider expanding to designer and fashion jewelry, appealing to the self-purchaser. Many women are shopping through multiple TV channels that target them. If you do not carry new and enticing collections to stir their desire, even your established clients may be shopping elsewhere for such purchases. Be aware of the competition. Tune into shopping networks from time to time to see what’s selling and listen to customers’ feedback. Adding new lines that appeal to the self-purchaser expands your sales possibilities.
Is your marketing approach women-friendly? Women love casual events such as Trunk Shows with a party-like atmosphere where they can try on different pieces in a relaxed and festive environment. Be fashion savvy. Encourage your staff to keep up with the latest trends during the Awards season including the hottest colors and styles. Encourage your clients to bring in outfits to try out what jewelry provides the perfect finishing touch.
Have fun. The self-purchasing woman brings with her a new world of possibilities. If so far you’ve focused primarily on bridal, take advantage of this growing lucrative trend, often with relatively high profit margins and a year-round appeal. Women love jewelry!