Tricks & Traps of Jewelry Stores
The process of buying diamond jewelry is sometimes multifaceted. At one point, you need to check for all the 4C’s, to get only the best diamond for yourself, and at other times, you have to deal with all those persuasive salesmen and store managers.
Since buying diamonds is itself an emotional experience, being the store manager you won’t let go of this chance to increase your sales, rattling off some solid facts. So how do these jewelry stores increase their sale revenue, exponentially?
What are those tips and practices that make the buyer believe in their legitimacy and help jewelers in earning more than the value of the offered items?
Well, there are some simple tricks and specific methods, these jewelers or store owners follow. So, if you want to learn the ropes, then look no further. Here are the some of the most common tricks practiced by these industry experts, which help them drive more business to their jewelry stores.
A warm impression of the jewelry store
The foremost and the most obvious way to capture buyers are to make your store stand out. In addition to that, if a store also offers smiling and warm welcoming staff then this is definitely an add-on for a buyer. This establishes a trust level between the buyer and the store owners, making buyer believe in the legitimacy of the jewelry store and eventually its offered items and prices.
The trade-in offer
Many jewelry stores smartly give the sales pitch that a buyer can always trade the diamonds for
an upgrade. But if you evaluate the deal more closely, you will notice that in case of paying more
for a stone now, and also later for an upgrade, this trading in of diamonds is not a worthwhile
Hence, your best option is to buy the diamond at a fairly reasonable price and later if
needed, buy an upgraded one at a fairly reasonable price too.
You are buying the best one
This is one of the classic sales techniques, the majority of jewelry stores show you multiple diamonds with specifications identical to what you are searching for. Out of all of them, they call one the best of all and make you believe in that unless you pay for it. However, in actual, you end up paying for the diamond which has average cut in comparison to other poorly cut diamonds. Whereas, what you expected and deserved was to get the best diamond on the market and not just the better one of those mediocre stones.
Don’t see weight but the size
Many buyers only focus on the carat weight of diamonds and do not consider the size of it. However, it is imperative to consider the millimeter size of a diamond rather than evaluating its legitimacy just by carat weight.
This is especially true in case of diamonds which are not certified, or when the size details are not specifically mentioned for buyers. Since jewelry stores often buy the cheapest diamonds for the inventory, and offer them to buyers with higher prices, the best way to work around cheaper diamonds is to avail the ones that are cut deeper and appear quite small in size in terms of its carat weight.
Sales price does not mean good value
What do you think, which diamonds have better value, those marked down from $8000 to $5000 or the ones marked down from $14000 to $7000? Well, you must not have an idea about the better one! This high list prices along with heavy discount markdowns are just simple sales tactics to make you believe that some of them worth more than the charged price. Hence the only important factor is that price, relative to the size and quality of the diamond.
Offer various payment options
One of the great tricks that many jewelry stores use to bring in more visitors and to increase the potential pool of clients is by offering a variety of payment options. They start with offering and marketing about credit financing programs in their business. This helps them in attracting buyers which are without any savings or credit as it helps them to buy their item and pay in progressive payments or maybe a lease to get that jewelry piece. So the next time you are enticed by the many payment options provided by the jewelry stores, remember that these stores don’t need to pay any upfront cost to make such offers.
Beware of the jewelry stores which stress and claim lifetime guarantee against the jewelry items. Even if you do, don’t forget to check the contract so that you may know exactly what is covered in the contract and what’s not. In general, these warranties only cover a couple of damage situations and end up providing hardly 5% coverage to your precious stone. So, before you get attracted to these unclear or false warranty claims, stay abreast of these marketing and sales tactics and make only the right decision.
Don’t get stuck in too many details
These days buyers don’t only rely on physical stores but also have an option to buy online and your jewelry representatives know this well. Therefore, when you visit a jewelry store they not only provide you excessive details or technicalities of a product, but they also pretend to provide the insight which you don’t have or would not have gained otherwise. So, your best bet is not to get caught up in irrelevant or too many details because either way, you won’t be able to measure or evaluate the authenticity in much deeper level. Look for beauty and basic essentials in your diamond jewelry and avoid the tactics of these stores which only aim at closing a favorable deal.
In the nutshell, such stores have something to sell you and they make sure they sell it to you. So before making any tempted decision, comb through various options and then go with the seller that seems bona fide in all ways!
If you need more information about diamonds, head over to Brio right away!