The jewelry industry is unique in many ways. For the customer, many purchases carry a special weight and significance. It’s often a serious purchasing decision, with strong intent and significant consideration behind it. Take engagement rings, for example. The level of thought that goes into the purchase of an engagement ring is higher than almost any other retail purchase, in most cases. The hope when buying one is that it will be the only (or last one) the purchaser will ever need to buy, and so they put a lot of thought and effort into it.
It’s true of many other types of jewelry. Even in cases where consumers are buying affordable jewelry, there is a lot of thought put into the style and fashion of the jewelry. The nature of the product defines the customer expectation, and practically any consumer will tell you that they want to purchase jewelry from a reputable seller. Authenticity truly matters in the jewelry business, and that means consumer trust and the strength of the customer relationship are enormously important in this field. That is probably obvious to you, but have you ever considered the role that consumer financing plays in this area?
The jewelry industry is unique in many ways. For the customer, many purchases carry a special weight and significance. It’s often a serious purchasing decision, with strong intent and significant consideration behind it. Take engagement rings, for example. The level of thought that goes into the purchase of an engagement ring is higher than almost any other retail purchase, in most cases. The hope when buying one is that it will be the only (or last one) the purchaser will ever need to buy, and so they put a lot of thought and effort into it.
It’s true of many other types of jewelry. Even in cases where consumers are buying affordable jewelry, there is a lot of thought put into the style and fashion of the jewelry. The nature of the product defines the customer expectation, and practically any consumer will tell you that they want to purchase jewelry from a reputable seller. Authenticity truly matters in the jewelry business, and that means consumer trust and the strength of the customer relationship are enormously important in this field. That is probably obvious to you, but have you ever considered the role that consumer financing plays in this area?
Offering Consumer Financing Shows You Care
The last thing a jewelry retailer wants to do is appear cold, distant, and unreachable to their customers. You want every customer to feel special, and you want to make them feel welcome beginning the moment they walk into your store. Your sales associates deliver on that mission, but if you want to really live up to customer expectations, you need to be able to offer them the flexibility they desire.
That’s where consumer financing comes in. Establishing a jewelry consumer financing program is essential these days. Customers expect to be able to finance their purchase, and this expectation often has nothing to do with whether they can afford the item in question without financing; it is frequently merely a matter of convenience and flexibility. No one wants to feel like they are being pushed into a corner when it comes to their purchase.
In that sense, offering financing as a jewelry retailer opens up a world of potential sales that otherwise would have – or indeed likely would have – gotten away. It shows your customers you are on their side and that you want them to be able to make a purchase, rather than standing in the way of them and the item they want.
Ensure Your Consumer Financing Program is Up to Par
It’s not enough to merely offer consumer financing; you also need to make sure that your finance program is where it should be. Are your staff members trained to pitch financing correctly? Are they offering it as an option to every customer, every time? Are you using a secure and comprehensive automation solution like FormPiper to make your team members’ and customers’ lives easier during every application process?
These are just a few of the questions you should ask yourself as you evaluate your jewelry financing program. Ultimately, you want to build strong customer relationships and help your customers get the items they want without a hassle. Consumer financing, implemented correctly and offered to customers during every sales interaction, will help you get there.
The last thing a jewelry retailer wants to do is appear cold, distant, and unreachable to their customers. You want every customer to feel special, and you want to make them feel welcome beginning the moment they walk into your store. Your sales associates deliver on that mission, but if you want to really live up to customer expectations, you need to be able to offer them the flexibility they desire.
That’s where consumer financing comes in. Establishing a jewelry consumer financing program is essential these days. Customers expect to be able to finance their purchase, and this expectation often has nothing to do with whether they can afford the item in question without financing; it is frequently merely a matter of convenience and flexibility. No one wants to feel like they are being pushed into a corner when it comes to their purchase.
In that sense, offering financing as a jewelry retailer opens up a world of potential sales that otherwise would have – or indeed likely would have – gotten away. It shows your customers you are on their side and that you want them to be able to make a purchase, rather than standing in the way of them and the item they want.
Ensure Your Consumer Financing Program is Up to Par
It’s not enough to merely offer consumer financing; you also need to make sure that your finance program is where it should be. Are your staff members trained to pitch financing correctly? Are they offering it as an option to every customer, every time? Are you using a secure and comprehensive automation solution like FormPiper to make your team members’ and customers’ lives easier during every application process?
These are just a few of the questions you should ask yourself as you evaluate your jewelry financing program. Ultimately, you want to build strong customer relationships and help your customers get the items they want without a hassle. Consumer financing, implemented correctly and offered to customers during every sales interaction, will help you get there.