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Education
Be Special
Be Special. It seems there is a jewelry store on every
corner. So to stand out in the crowd, you must offer a product that the
competitors don't sell. Give your customers a reason to shop in your
store. The most common reason offered by retailers is "price," but price
alone is not enough to build a loyal customer base. Sale prices increase
short-term traffic only. They don't provide a reliable reason for
customers to loyally patronize your store. Consumers who shop for
price will go wherever the lowest price is. A loyal customer base is
built on products and services that can be found only at your store.
As crucial as avoiding duplication of your competitor's merchandise
is avoiding duplication of your own merchandise. There is no reason to
offer the same product from different manufacturers. Every item in
your store must provide a unique feature not present in any other item
offered in your store. Consumers will always use the price as the
deciding factor when presented with nearly identical products. The
result is a build-up of inventory rejected by the consumer.
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