Obsessions of a Jewellery Retailer Part-1

Part 1

I have Coached 350+ jewellery retailers personally, and 2500 + jewellers have attended my seminars and we have trained more than 15,000 sales staff. Besides my 10+ years at Tanishq in roles like Head of Training, Merchandising and Sales.

After carefully observing them, here’s what I have found out the skills the successful retailers  have mastered.

  1. Start at an young age: Being part of the family, business is always a common family discussion and young children are expected to go to school and “sit” in the family stores in the evening. Holidays means, more time at the store.
  2. Hard Work: Whether they are 1st or 2nd or 3rd generation, they work very hard indeed. Their work really starts on a Friday evening and peaks on a Sunday evening. This is in contrast to most “professionals” whose work ends on Friday evening for a “great week end”.
  3. Basic education: Most young jewellers are either 12th Pass or at best a basic Commerce degree. In fact, elders take pride in what they have achieved, inspite of very little formal education.

You can click on below link to read Part 2 & Part 3

Obsessions of a Jewellery Retailer Part 2
Obsessions of a Jewellery Retailer Part 3

My own experience is that family run businesses are very efficient at “consumer facing interactions” even while “the consumer is very comfortable” with interacting with the “family”. Such consumers often have long standing relationships of generations, have similar lineage/ culture/ speak the same language/ are from the same community or religion  etc. especially in industries like jewellery retailing.

Having worked with over 350+ family run businesses of all sizes from S, M, L, XL, XXL to XXXXL, my experience is they can grow even better with some “outside support” in areas like merchandising ( it is no longer about kgs but rotations and ROI), marketing ( rare to see family businesses willing to invest in consistent brand building) and finally in looking at employees as assets rather than as a cost.

If you are a family run business, where you do think, you are in this journey and what is your dream for 2020 ?

“Upgrading Jewellers ” Shivaram

Comment below.

2 comments

  1. Hi sir,

    I am running a house hold small scale gold jewellery business. I don’t keep much stock mostly i will do on order basis. I want to increase my sales. So I am looking for suggestions.

    I have a question about your book sir.. in that book most of the topics are related to jewellery retails stores.. Is it really helpful to jewellers like me..

    Thanks &Regards
    Jithendar
    Hyderabad

    1. Dear Jithendar,
      Thank you for writing to me. Any retail business has to market it self to its customers and generate sales.
      The book is a good place to start to understand how “stores” can grow their business.
      If most of the business is “order basis”, you may still get ideas on how to build customer relationships, pricing the product etc. If you have a shop where customers come in, then you can get more ideas.
      If you are operating from home, in these days of intense challenges, you can improve your customer relationship, use technology like WhatsApp etc to communicate and grow the business.
      Hope these  simple ideas help you start to grow your business.
      Shivaram

Leave a Reply

Your email address will not be published. Required fields are marked *