|August 13th, 2020|
How does a jewelry shop make money? By selling expensive pieces of jewelry! Well, you can say that but there are other ways it makes profits and they are- cleaning, repairing, and engraving the jewelry. If you or someone you know has a jewelry store, taking these profits to new levels is a piece of cake. All that’s needed is a point-of-sale system that suits the jewelry industry. How to that? Go through the below-given points to find out.
Tracking the Inventory
Every jewelry shop has valuable assets, which need inventory management. With a POS system that allows monitoring the in-stock jewelry, finding out the most popular items and the ones that need additional promotion becomes an easy road. Another thing that’s addressed is knowledge about the losses.
History of Sales
Customer service improves when merchants know about each piece of jewelry they sold in the past because it lets them know that the same jewelry will need service in the coming future. A POS meant exclusively for the jewelry store provides the sales records within minutes. What else? Such POS systems are built to provide detailed sales information, helping the merchants with deep insight into their business.
If you think that’s all, prepare your ears for more. These point-of-sale systems generate the peak sales time, something that helps the merchants have the right jewelry and designs along with enough sufficient to make the best of opportunities that are possible during this time. Last but not the least, the merchants also get to know about their most performing employees.
Record of Customers
One thing that happens with every jewelry store is that most of its customers are repeated. Once they have put their trust in the store, they visit it for every occasion and celebration. A POS system that can store their details supports the merchants to understand the buying nature of the customers through their sales history and serve them with unparalleled customer service. They can create worth marketing-oriented campaigns as well as promotions to make the loyal customers feel special on the special days of their life. This action helps in two ways- bond with the customers improves and revenue shoots up.
POS Setup For Jewelry Store: Factors
Nothing worth having comes easy, but it doesn’t mean you got to invest your sweat in it. You just need to consider a few important factors that can make your vision a hit or flop. The same is the story with POS for jewelry stores. Just a few things to ponder upon and you are good to get your hands on the right system that will bring rewards for you. Unveil such attributes below.
• Total Number of Terminals
First things first, finding the right POS begins with knowing the number of terminals that are required. To find out this, the first thing that matters is the size of the jewelry store second thing is the employee’s strength. Since a business undergoes transformation sooner or later, it is good to know if more terminals will be needed in the future.
• Payment Processing Integration
Customers pay through a variety of payment options. It is for this reason, that the POS chosen for the jewelry store must be advanced enough to support different modes of payment choices, such as debit cards, credit cards, and cash as well. Besides these, if a customer expects layaway for their purchase, the POS must be able to accommodate that too.
Jewelers are known for their smart approach to keeping away from missing any opportunity that can earn revenue for them. For this reason, they have services that fulfill the expectations of their customers and generate revenue with on-demand selling including other services like engravings and repair. But in this case, the selected POS must include these additional services. If a merchant has multiple locations or has the plan to open another store, their POS should be equipped with the feature to track the inventory as well as sales between all the locations.
• Online Storefront
Thanks to the Internet, like other businesses, jewelry businesses can also be operated online. For merchants with an online store, their POS must be able to enter each & every piece of jewelry in the inventory, allowing it to be ordered and purchased anytime a buyer wants.
What are you waiting for? Get your jewelry store POS system now. If you need any help or have some questions, feel free to get in touch with us.