5 Strategies for US Jewelers to Boost their Custom Jewelry Business
It is no secret that the market share of custom jewelry in the overall US jewelry business has been steadily growing. As more and more customers demand personalized jewelry to match their persona and style, jewelers are compelled to meet this demand by offering custom jewelry solutions in their shops that were otherwise selling only off-the-shelf jewelry. Jewelers have realized the potential of custom jewelry in their business, as it gives them the opportunity to sell premium gemstones, diamonds, and flexible making charges. Eventually, this becomes an opportunity to grow their business and increase profitability.
Here are some strategies that US jewelers can use to boost their custom jewelry business:
. Understand the design process: The design process in any custom jewelry project is a very important stage for the customer to gain confidence. The design involves aspects such as sketching to create a rough impression of the desired piece, CAD designing to convert this idea into a 3D model with proper dimensions and stone details, rendered images created on a computer that match how the finished piece would look, and an animation video that can be shown to customers before producing the piece. Each stage of the design process is critical in translating that rough idea into a finished piece of jewelry. Understanding this, the jeweler should have access to the right tools or partners that can deliver this in the most efficient, fast, and cost-effective way.
. Offer a consultation process: The jeweler should look at the business opportunity a custom jewelry piece can bring and strive to offer a seamless consultation process that is easy for the customer to avail of. It is the jeweler’s job to make the customer feel heard, understand their requirements in detail, and educate them on different aspects of the process, such as stone selection, setting types, metal colors, etc. The more personalized this consultation process is, the more likely the customer will feel confident about doing business.
. Use technology to deliver customization: By using AI tools to showcase many options for their selected design and showing a proof of concept in the form of renders and animation videos, the jeweler can use technology to enhance the customization experience for their customers. Some tools that can also be helpful include price calculators and 3D configurators with diamond selection options, so the customer is aware of the price implications of their selections. This would surely give customers the confidence to choose their services.
. Offer flexible financing options: Like any other jewelry purchase, it is in the interest of both the jeweler and the customer to offer flexible financing options. There are many financing partners that provide flexible payment plans, which should always be leveraged. Offering customers a free consultation and occasionally free CAD designs can be a beneficial strategy to boost sales, as it allows customers to feel comfortable until they make a selection.
. Offer semi-customization tools on your website: Your website is your biggest sales tool in today’s era and should be used to its fullest potential. Offering products that are semi-customizable on your website, such as changing stone shapes, stone sizes, and metal colors, can now be embedded within your site. For each product, some customization can be done by your customer. Embedding a full-fledged 3D configurator on your website would also prove to be a great sales tool for semi-customization. A 3D configurator is a webpage where the customer can design their own jewelry to a certain extent, with the ability to choose stone size, shape, setting, halo types, etc. The customer can then finalize the design by selecting the right type of diamond, either online or in consultation with the jeweler.
As the demand for custom jewelry continues to grow, it is important for jewelers to invest in the right resources to create an ecosystem that is friendlier for customers to opt for a personalized custom jewelry experience. By understanding these five strategies and implementing them, jewelers can reap the benefits of this growing segment in the jewelry industry.
We at Jewelry CAD on Demand help jewelers be ready to take orders for custom jewelry from their customers by offering:
. Custom CAD Design Services, having completed more than 15,000 custom designs to date in different categories of jewelry.
. Rendering & Animation Services to enable jewelers to showcase their designs in the form of stunning pictures and videos for their customers before going into production.
. Integration of a custom 3D configurator on their website to offer their customers an experience of building their own jewelry online
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