Today retailing is harder than ever. How many times are we hearing of such and such legacy retailer closing stores or changing their strategy?
Is there a place for the small business gift and jewelry retailer?
You better believe it! There is no way a big box retailer or an online retailer can have the selection, the service, and the expertise that small business can. In fact they try to overcome their deficincies by promoting reviews and giving money back guarantees. Well a litter personl service and eye contact can easily overcome that. But you cannot overlook having a big selection and proper pricing.
What margins you maintain are up to you. But you can count on the customer to google the product, sometimes right in front of you as to whether you are delivering them true value.
Selection, is where you can really shine. Become the dominant player in that category and you will own that business. Word will get out in town that you are the expertise in that field, and people will slowly flock to your store for that category. Promoting your strengths on social media will go a long way to reinforce your brand here. The days of having a little of this and a little of that and surviving are long gone.
Display differently. Look at the retailer Charming Charlie. A basic fashion accessory store. But how they displayed all red necklaces and red colors together really wowed the buyer. They have make a name for themselves by simply rearranging colors. Do you have an idea for a different wow display? Putting your good on a pallet display anyone?
The National Gift & Jewelry Federation is here to help you down this winding road. We are constantly adding content that will help you be a better business. Are fees are low and we take in input from all parties for doing things that will promote you. Just drop us an email, were happy to chat. Join our forum and discuss with other folks that my have experience in your matter.