A word of advice for entrepreneurs: just don’t let it get on your nerves.
Every time the holiday season kicks in, there is always the pressure of gaining more sales or making up for a slow business year. Holiday sales typically represent half of the annual sale of small businesses that most of them typically depend on holiday week to gain more profits.
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To make the most of the season, it’s important for wholesale jewelry stores or jewelry retailers to prepare everything from their window display to product inventory. If you’re in this business, getting everything right is important or buyers will walk away.
Here are some common mistakes that could ruin your holiday sales.
Cutting Too Much on Jewelry Prices
There’s always the competition to offer the lowest price or have the greatest deals during Holiday season. While putting your products on sale is one of the easiest ways to attract customers and keep them coming back, putting jewelry on a very low discounted price can affect your profit and diminishes the worth of your jewelry as well.
Instead, try putting your pricing competitively but offer unbeatable customer service to top it all. Greet customers by the door, offer free gift wrapping services, and thank each one after a fruitful shopping.
Spending too Little on Advertising
Getting the most out of the holiday season partly depends on how well you position your products for it to become noticed by your customers. If you have a lot of stunning accessories to sell but failed to invite people to come over, the result of the Holiday selling week may not be as favorable. Turn to your website and other social media pages and make sure everyone knows you’re selling great wholesale jewelry pieces.
Forgetting the Last Minute Shoppers
While some holiday buyers start shopping as early as September, some of them just start buying gifts around 15 days before the Holidays. The busy crowd who forgot to shop ahead finds it more comfortable to buy at least a week before Christmas.
Don’t let them walk away empty handed just because you already ran out of stock. Call your wholesale jewelry supplier to make sure that you have enough jewelry inventory to sell on the whole duration of the Holidays. Reward last minute shoppers with a special discount promo or fun treats to make them feel more special.
Do you find this article helpful? Come back for more tips to help you come up with a successful jewelry business this season!