The diamond ring is timeless. It’s a mark of care, love, and commitment, and because of this, buying a diamond ring is one of the most significant jewelry purchases your customers can make.
As an independent retailer, you’re positioned to provide superior diamond ring purchase experiences. Unlike major jewelry chains, retailers with one to five stores have the flexibility and autonomy to truly cater to the customer.
Read more to learn how an independent jewelry retailer can grow their diamond ring business using these five great marketing methods.
Highlight and Enhance the In-Person Experience
Most jewelry customers begin their search online, but when it’s time to make a big purchase, like a diamond ring, many want to go in-store. Consumers want the security and confidence of shopping in person so they can see the rings for themselves, ask questions, and confidently purchase what might be the most meaningful piece of jewelry of their lives.
Jewelry stores provide an in-person experience that cannot be replicated by online-only retailers. Below, we explore how you can center the in-person experience in your marketing to grow your diamond ring business.
Personalized Service
Engaging face-to-face with clients is a significant advantage for independent jewelry retailers; it’s one of many ways you set yourself apart from the ever-growing presence of online-only diamond ring sellers. Your staff sets the tone for the in-store experience, so ensure they’re trained to provide personalized, attentive service. They should possess a strong knowledge of diamonds and the industry to answer questions and guide customers through the buying process.
Ambiance and Atmosphere
Buying a diamond ring is more than just a transaction. It’s a deeply personal experience that should be reflected in your store environment. Create a welcoming, luxurious experience that foreshadows what customers can expect from their time with you. A relaxed setting helps the customer feel at ease and comfortable taking their time to decide on the perfect ring.
Prioritize Your Online Presence
Even though brick-and-mortar retail offers many advantages, diamond ring sales happen within the omnichannel retail space. Shoppers research products online and in-store to find the best fit. As you optimize the in-person experience, prioritize your online presence as well.
Online Appointments
Consumers want easy access to your team even if they don’t walk through your doors. Offering virtual consultations allows customers to speak with a diamond ring expert via a video call, offering the personal attention of an in-store experience with the convenience of online shopping.
Clients know they can expect quality from an independent jewelry retailer. When you offer online appointments, they get both quality and convenience –– something they won’t get with an online-only ring business.
Site Quality that Reflects Your Brand
Most shoppers will explore your site before they ever come to your storefront. Your website is your first impression, so it must be accurate, up-to-date, and offer an exceptional user experience.
Ensure your inventory is current, navigating the site is simple, and your photo quality reflects the quality of your product and brand.
Storytelling with Social Media
When a client purchases a diamond ring, it symbolizes deep love and care. This is a narrative that we all know and love, and your jewelry store plays a role in it. A solid social media presence allows you to tell the story of your brand and the hundreds of stories you’ve helped craft with your diamond rings, helping potential clients see themselves in a story of their own.
The visual component of social media lets you share new products and services, introduce consultants and experts, and help you connect with clients at all stages of their purchase journey.
In omnichannel retail, shopping begins online and ends in-store. Invest heavily in your socials to engage customers at the beginning of their diamond ring research and exploration, helping them find the perfect piece while you grow your business.
Implement and Highlight Sustainability Efforts
Sustainability is at the forefront of consumer thought across industries, including diamonds and diamond rings. Recent research found that jewelry ranks third, after food and clothing, as the category most frequently purchased based on sustainability considerations. One in five consumers consider sustainability when making their jewelry purchases.
The same report found that sustainability is a critical factor for diamond jewelry consumers across all markets; 30 percent of consumers rank sustainability as the most crucial purchase factor, even above price and design, when choosing a diamond.
Your diamond ring business must prioritize sustainability and ethical practices. Consumers care, and they’re researching to ensure they’re making diamond ring purchases that align with their values.
Lab-grown diamonds are increasing in popularity as shoppers prioritize sustainability and price. Synthetic stones are ideal options for brides who want the diamond of their dreams without the astronomical price tag. Offering lab-grown options allows you to cater to a larger market that wants ethical, sustainable sourcing at more affordable price points.
Offer Consumer Financing
You have the diamonds and other pieces consumers want, but inflation and a shaky economy create obstacles to purchase for many of your potential clients. Independent jewelry retailers must provide alternative payment options that increase affordability for shoppers. Consumer financing programs empower clients to choose the perfect ring and bring it home that day. No waiting to build their savings, no compromising their monthly spending, and most importantly, no waiting to propose.
United Consumer Financial Services offers consumer financing that caters to your clients and helps you increase your sales. Our financing program allows customers to apply easily from a phone or tablet. You receive a notice of approval in just a few minutes and proceed with the sale. Your customers learn the exact monthly dollar payment amount and the number of months to pay off their loan. Once the contract is signed, you can close the sale.
After the transaction, your customer begins loan repayment, and UCFS pays you in one to two days. With consumer financing, affordable, low monthly installment amounts are easier for customers to handle along with their regular monthly expenses. Ensuring fixed rates for your consumer financing program provides the consistency and predictability your customers want, unlike credit cards with variable rates and astronomical APRs.
Financing increases the purchasing power of your customers, enabling them to
- Choose the perfect diamond ring for their partner
- Add pieces to their purchase, like a matching set of earrings
- Confidently make their purchase without the stress of a lump sum payment
- Most importantly, when customers choose an engagement ring, consumer financing empowers them to pop the question on their timeline – sooner rather than later!
UCFS boasts inclusive approval rates that widen your customer base, helping you serve more shoppers than ever. And because UCFS delivers payment promptly, you benefit from enhanced cash flow that allows you to build and grow your diamond ring business.
Becoming a merchant with United Consumer Financial Services is easy. Partnering with our team allows you to provide accessible, straightforward payment options that help you sell more diamond rings.
Contact our team today to learn how offering consumer financing can help your independent jewelry retail store grow your diamond ring business.