(NEENAH, Wis.) – Charm bracelets have seen a surge in popularity within the last five years, along with fashion trends such as stackable rings. By itself, a single charm or ring may not warrant an appraisal or jewelry insurance policy. However, when the charm bracelet or stackable ring collection is complete, your customer could have an item worth well into the thousands of dollars. Now is a good time to contact those customers who are buyers of similar merchandise and remind them of the overall value.
“Many customers wear collectible jewelry every day, making the risk of losing those pieces high. As a retail jeweler, you can save your customer from the cost of replacing a cherished piece of jewelry not typically seen as valuable. It’s a chance to reach your customers with important information and bring them back to your store for an appraisal on their total piece,” said Mark Devereaux, Vice President of Sales at Jewelers Mutual Insurance Company.
“It’s bringing something to their attention they might otherwise not think of,” added Devereaux. “Let’s also remember many collectible jewelry pieces represent heartfelt specific events and moments, making them valuable in sentimental ways. Telling them it’s worth protecting could make you a hero in your customers’ eyes.”
Many of these customers are not your typical single purchase, high volume buyer – yet. It’s another tremendous opportunity to strengthen your relationships with them so when they are ready to make that larger purchase, you’re the trusted jeweler who comes to mind.
How can you help build customer loyalty? Identify ways in which you can provide added value.
- Tell them about a service they may not know you offer, such as appraisals. While you’re talking with customers about their collectible jewelry and helping them select an item, it’s the perfect time to explain what should be done as their collection grows.
- Help keep track of their purchases. Many sophisticated jewelry point of sale systems have the ability to track the amount of charms or stackable rings your customer has purchased thus far. This helps take the guess work off the frequent gift givers who can’t recall their previous purchases.
- Turn first-time sales into lasting customers by showing your concern for their jewelry’s safety. Late March or early April tends to be a big promotional time for some brands with events such as free bracelet offers. It’s not only a time where retail jewelers will see many of their collectible jewelry customers return, but they will also see many new customers, which presents new opportunities to deliver exceptional service and make a lasting impression.
- “Mentioning the importance of insuring the item when the time is right sets you apart,” Devereaux added. “We know it might not be something they’re thinking about then and there with a smaller purchase. But, they’ll be happy you pointed it out as they watch their jewelry’s value increase when gradually adding to their collection.”
- Make it part of your spring cleaning ritual to contact these customers to not only talk about appraisals and mention insurance, but to invite them in for a jewelry cleaning and inspection. Make sure charm bracelet clasps are secure and prongs are tight for stackable rings – such preventive repairs are covered by Jewelers Mutual. During this slower time of year, it’s the perfect opportunity to build traffic to your business and keep your customers talking about your store and services.
For more tips to build customer loyalty, subscribe to The Clarity Blog. If you would like information about jewelry insurance for your customers and Jewelers Mutual’s programs for jewelers, visit JewelersMutual.com, contact a Jewelers Mutual sales manager at 800-558-6411, ext. 2118 or Sales@jminsure.com.
*Jewelers are not licensed agents and cannot sell or offer advice about insurance coverage. Coverage and pricing are subject to underwriting review and approval, and to policy terms and conditions.