Five tips to maximize festive sales

We are well into the festive and wedding season in India and  across the country are leaving no stone unturned to boost their sales. The month from October to January is when the business is brisk and big-ticket sales are frequent.

In this post, we want to share with you five simple tips that can help you to maximize your sales during this season. We are sure you will find them useful:

     #1 Create in-store excitement

‘You never get a second chance to make a first impression.’ Remember this saying? If your stores still look the same, as they looked few months ago, now is the perfect time to revamp the in store arrangements. Consider creating excitement in your stores by adding interesting and appealing props and colors, based on the festive season theme. Store windows should reflect the occasion with dressings that are themed or appropriate to the occasion.

Also how about running special events inside your store that are themed to the various festive occasions? Sales people can be costumed for the event in store, where ever appropriate!

#2 Push for add-on sales

Add on sales is the strategy of selling additional goods and services to customers just before they complete their purchase. And come to think of it, isn’t it the best time to add-on, when your customer is in your store and his wallet is already out? Capturing those add-on sales before the customer leaves the store (physical or online) is the big ticket to profits. For instance, once a sale is complete with the buying of a necklace, your sales staff can politely offer the customer to view matching bangle sets. Provide adequate training to your sales staff towards this. This will help you generate extra income if you get the customer’s buy-in at the time of purchase.

       # 3 Do not ignore your online, mobile presence

Make sure your websites, blogs and profiles on other online platforms are updated with the latest piece of information in terms of arrival of new collections, promotional schemes etc. Remember websites and blogs are very important places for our online businesses and decorating them during the festive season is as important as decorating your stores. These changes should reflect the change in store decor and the special events that you may be hosting around these special occasions. Perhaps you can start a “countdown” to a festival with your emails and include something new and fun each day. Inform your customers of special offers via sms alerts in mobiles. Wherever possible, make a courtesy call and connect with them.

      # 4 Look for co-branding partners

Spending money on self-promotion a great way to build your brand, but it’s not the only way to do it. Have you tried co-branding? Co-branding involves combining two or more brands into a single product or service. By pairing with a suitable cross-promotion partner, you can provide innovative service to your customers in a cost-effective manner. Try to work out economical co-branding deals by partnering with other non-jewelry stores in your vicinity. For example, a local restaurant may be willing to donate gift certificates to you in exchange for the marketing they will receive by doing this. Loyalty cards and innovative schemes are a good way of offering customer service.

      # 5 Don’ forget the power of media

It’s important for you to remain in the memory of your customers and one powerful way of doing it is through the media, not just in terms of advertisements but also editorial coverage. Maintain healthy media habits, which will benefit you in the long run. Build your database of media contacts locally and regularly update them about the happenings of your outlet, more so during the festive season when you would want to remain in the spotlight. For instance, donating a percentage of the day’s business to a social cause can win you a good coverage in the local newspaper. Since customers rely heavily on the trust factor while selecting a jeweler, regular coverage in the news about your outlet will ensure that sub-consciously that trust gets built and they get attracted to your store.

And before we sign off, here’s wishing you a dazzling festive season!

Jewelry Trends Forecast

What’s selling? What’s in trend? These are some of the most frequently asked questions we get to hear from our associates in the industry. Yes, knowing consumer buying trends is important as it can make or break your business. At Kama Schachter we lay huge emphasis on trend tracking to understand the retail jewelry demand across the globe and accordingly manufacture our latest jewelry collections.

The recently concluded India International Jewelry Show, held at Mumbai, provided a good platform for the jewelry industry to interact and share trends. Our Managing Director Colin Shah was one of the speakers at a panel discussion alongside a few more reputed speakers from the industry. It was interesting to see a lot of aspiring designers and students participate in the interactions and gain valuable insights. Colin Shah spoke of six key trends that are reigning at retail stores currently. For those of you who missed, here’s a summary of six trends to watch out for and capitalize.

Rose cut Diamonds

Rose cut Diamonds which date back to the 1500s are making a resurgence in fine jewelry. The stones are flat on the bottom and domed on the top, giving a very sexy subtle sparkle is loved by designers. Rose cuts also lend themselves very well to execute pieces with an antique look

Blackened Precious metals

Fine jewelry with oxidized look is gaining popularity in the major consuming markets, especially the US. Black is back (not that it ever went out of fashion!). Today, oxidized metals, especially sterling silver, are taking the jewelry industry by storm. The look is loved for the tough yet ethnic appeal. Blackened precious metals create fresh unpretentious looking jeweley for both men and women. We have a range of oxidized jewelry collection that is doing very well in the market.

Lace like jewelry

Lace is an openwork fabric, patterned with open holes, made by machine or by hand. Lace is one of the biggest trends this fall and is also influencing jewelry trends. Lace-lie patterns lend themselves well to jewelry making. Considering the current cost of precious metals, lace like openwork allows a creation of large scale pieces without the weight and the cost.

Ring trends

Stackable rings are a big rage right now. It’s a good collectible that marks different milestones in one’s life. Diamond and color gemstone rings are also popular- especially since diamond prices are soaring and using a gemstone combination allows for a big look at an affordable cost. Over-the-top or extravagant rings are a big trend. After all, flashing an unbelievable ring while having cocktails and conversation is the ultimate ‘tease’ and everyone will be envious.

Chain Links

Chains are back in trend with large links with or with gemstones in every precious metal imaginable. Chain links as neck wear are in huge demand. Layered chains with diamond accents are also very sought after. These chains can be worn alone or layered with others. Link chains in textured gold, pearls or a mix of gemstones add a unique style quotient to the wearer. There has been a constant demand for these globally, and of late we are seeing an increasing demand in India as well.

Green

Growing emphasis on consumer ethics and social environment has triggered a huge demand for green jewelry. Rings, pendants, earrings and neck pieces set with emeralds or other green coloured stones like quartz, beryl, peridot, tsavorite or alexandrite are now in vogue.

As always, we love to hear from our readers! Do share your thoughts with us in the comment section about any other jewelry styles that you may want to add to the list.