Engagement Rings < Retail Shopping In Jewellery Category
Danforth Diamond Call 001.804.794.1118
Company having 50 years of jewellery expertise to ensure that the customers get the highest quality jewelry for the best value. Products include engagement rings, wedding rings, gold, silver and diamond jewelry, earrings, necklaces, bracelets, bangles and much more. Visit the site for online shopping.
14241 Midlothian Turnpike, Suite 183, Midlothian, VA 23113-6500
Engagement Rings Call 1-212-265-1915
The company offering 100% 30 day money back guarantee for their jewellery products including diamond rings, cheap and discounted engagement rings. Visit the site for more business details.
1461 First Ave. New York, NY 10075, USA
The life cycle of humans has a very simple yet intriguing pattern. We start our lives as infants and pass through every phase. Every phase of life has its own value especially the youth phase where we take many important decisions of life to carry forward our life cycle and the generation. All these steps generally involve celebrations so that we can cherish them for a lifetime. One such beautiful occasion is the engagement ceremony of a person. Just like all the other celebrations engagements involves a lot shopping of jewelry, clothes, gifts etc. The most important item here is the ring that is exchanged between the couple. The retail business of this jewelry item has very good scope.
To start a business of this jewelry item one should be first aware of the different materials that are used to manufacture the rings and the variety that are available in the market. An in-depth study will reveal that the major metals used in this field are gold, silver, platinum along with different types of stones and diamonds. The engagement is considered as the beginning of a new life with a partner and therefore the shopping and selection of the item is done much before the ceremony. While selecting the product a customer will definitely look for a wide range of the products that you can offer. Hence in order to get a good kick start of the retail store it becomes essential to have knowledge about the products.
Once you have understood about the various basic kinds of the raw material that are used to make the jewelry item, you can then work on the variety of the product. For this purpose you will need to look for manufacturers that are well known and trusted in this field of business. The manufacturer as well as the dealers that you work with should be also aware of the shopping trends and demands of the market so that they can provide the best and latest collection of engagement rings. You will be able to display the best collection in the retail outlet to attract the customers. Such a collection increases the sales as well as profit of the company.
These days people are not satisfied with the regular and common patterns of the jewelry that are available in general. You are in the initial phase of the business and therefore to attract more customers to your retail store it becomes necessary for you to keep yourself updated about the latest designs and patterns of the engagement rings that are being introduced. If you are able to offer out of the box collection then automatically customers will prefer shopping from your outlet rather than the others. These will also help you in handling the cut throat competition that occurs in this business. It will also help you in creating a niche for your self in the market.
The engagement ceremony involves both the life partners and both of them perform the exchange of rings. Instead of trying to sell a single jewelry item for this occasion you should come up creative and innovative plans where you can target more sales at a time. Your business team should work on your marketing and sales strategy in order to bring such offers into actions. For instance you can offer two rings in a set, one for the man and the other for the women. In this you can afford to keep the price a little low since you are selling to products at a lower price where the ultimate profit is yours. Such discount and offers attract and bring people who are shopping for this particular product to your retail outlet.
Location of your retail shop is another very important aspect that you will need to pay attention to. Apart from the regular market area you should select places that are generally crowded. Shopping malls and shopping complexes are very good examples of such a place where there are more crowds and it becomes easier for you to bring your engagement rings business into notice. In order to magnetize more people to your store you can create publicity of the jewelry item as well as the store. You can use various advertising methods like banners, hoardings, newspaper and other media sources to popularize the product and the offers that you are providing. This field of retail business is a very risky one since you are dealing with very costly jewelry items made up of valuable material like gold, silver, diamond and platinum. The increasing rate of crime and burglary has made people understand that prevention is better than cure. Therefore it is essential to install important technical devices in the retail store. These include CCTV cameras that can capture and keep a note of all the people shopping from your outlet. Any suspicious activity or person can be caught on the basis of the footage. The alarm systems should also be installed in order to hamper any theft attempts and keep the costly engagement rings safe.
Marriage is a pleasant feeling which is cherished as a wonderful moment by both the couples. People try to remember these feelings and moments throughout their life and anything done on that occasion is always something special. They say marriages are made by the match maker and these two special couples made together by the match maker exchange their vows and get committed to life in western culture by a ring jewellery from a male to a female. Shopping of engagement ring is also a special occasion like the marriage itself.
Jewellery like engagement ring as a vow to marriage is recognised in many cultures of the world. Many of them keep this engagement ring for life and there are certain women who are afraid of removing the engagement ring for the rest of their life due to cultural and sentiments. Such highly regarded ring is selected after meticulous search. Many western cultures attribute exchanging of ring as an equivalent to marriage. After initial proposal a wedding ring is given for taking the relationship to a new higher level which is marriage.
In western culture it is said that a man should buy an engagement ring with this two months salary. Many people often buy an engagement ring with much higher cost in order to make it special. There are many aspects to the total cost of the diamond ring jewellery such as wastage, transport, design, purity, retail price, taxes, demand and supply, raw material cost, etc. These all costs significantly add to the end price and most importantly many engagement rings come with additional attachments such as diamonds, precious stones, jewellery stones, etc which significantly add to the total cost. It is important to have knowledge about different stones, suppliers, etc for engagement rings entrepreneurs. Market for engagement rings with stones and without stones, customs duties, etc can be known by shopping in retail. There are many exporters and importers of precious metals worldwide who have specialized in the trade. Engagement rings should be stacked according to the income of that particular suburb or city. Many of these rings with fine cut diamonds price may range up to millions of dollars. It is important to have retail market survey conducted regularly to be abreast of the patterns of spending of the people.
There are many retail chains which have refined and developed the art of making wedding rings jewellery to people. There are many retailers who are famous for their extensive products portfolio. Countries such as India which is the largest buyer of gold and gold products are considerable markets for engagement rings because some of the leading cultures of India exchange engagement rings. Also in most of the south Asian cultures men and women wear engagement rings thus increasing the chances of more business and bottom line for business. Generally retail shopping is likely witnessed during festival season.
Engagement rings are very special to persons wearing it which makes the trade much more special and lucrative. When designing engagement rings jewellery people need to concentrate on the design aspects of the ring because it makes the ring`s much more attractive and appealing. Any design flaws would hamper the richness of the ring and makes it unattractive which reduces the market value for the ring. Many retailers worldwide have employed designers to design engagement rings. Small percentage of the total cost of the ring is estimated to be used for designing. Another important factor which needs to be considered is in reducing the wastage which occurs while manufacturing the ring. Retail shopping of high valued items needs considerable time from manufacturers during which customer service is very important.
Many of these engagement rings come with a complete package. It is important for business persons to stay abreast with the latest technology and styles in the market place. Many financial institutions and banks may offer loans to this high end business. This is a capital intensive business and needs huge amount in down payment to gain trust from the suppliers and to gain confidence from the bankers.
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