E-commerce represents a great opportunity for jewelry retailers to extend their brand to digital spaces with an online storefront. Since consumers’ are constantly evaluating their options and interacting with retailers across many channels, it’s critical for jewelers to meet consumers wherever they are.
No jeweler should have to manage separate retail systems when expanding their showroom to the web. For this reason, we have prepared a list of five tips that will help jewelry retailers excel in omni-channel retailing.
Order Management System (OMS)
Jewelry retailers need an order management system that does more than simply manage the orders made in store and then separately manage the orders made online. If retailers want to truly integrate their business channels, they need a central repository for inventory and orders and require an OMS that can leverage fulfillment centers throughout the enterprise. As well, jewelry retailers need to use their OMS to move inventory and deliver it to the consumer based on his or her preferred method of delivery.
The accuracy provided by real-time retail enterprise solutions is not only a benefit to operations, but also to associates, and customers. Whether items are sold in-store or inventory is being replenished, the OMS should automatically feed your enterprise systems with the new information in order for online stock availability to reflect the change in inventory. Often, customers reach their online checkout, only to realize that the item is out-of-stock. By keeping your website up-to-date, jewelry retailers will save their sales by reducing online cart abandonment. As well, if you are a jeweler that offers various fulfillment options, such as reserve online and pick up in store, ensure that customers can verify in-store stock availability.
Jewelry Sales Management
The e-commerce platform is at the core of all online channels and is the customer-facing component of the crosschannel shopping journey. Whether a customer makes a jewelry purchase on the web, tablet, mobile phone or in store, all transaction information needs to be synched between systems. The customer’s profile should be updated with the new purchase information and inventory availability should also be adjusted to reflect the sale of the item. No matter where sales are made, jewelers need one single view of their inventory and of the customer profile at all times.
Whether a customer buys only in store or both in-store and online, this customer is a single person and should be treated as such. For jewelry retailers to provide the exceptional and personalized service expected from their customers, an accurate view of the customer profile is critical and only achievable once customer data from all touchpoints (e-commerce, POS, clienteling, social media analytics) is integrated. By tracking and unifying customer engagement online and in-store, retailers will have a single view of the customer’s complete order history, purchase behavior, preferences, wish lists and more. For optimal use, this rich data should be integrated with a retailer’s CRM system in order to make these insights actionable by executing more targeted and measurable campaigns.
As the retail industry continues to evolve, jewelry retailers need to be able to keep up with their businesses’ growth plans such as geographic expansions, the creation of a new brand or the addition of a new business channel. In order to support these plans, retailers need a system that is resilient and capable of supporting constant changes. With the right integration tools, individual systems don’t need to be pre-wired together. Data from backend systems, external systems and customer-facing touchpoints all flow into one central location enabling centralized and real-time access to information enterprise-wide.
Creating a successful unified platform by bringing together business processes from across the web and brick-and-mortar location, is within reach. Jewelry retailers who leverage order management technology and data to evolve the customer experience, deliver faster inventory turn and prepare for future growth, will have the opportunity to thrive.