How to Let Your Virtual Inventory Make Jewelry Sales For You

October 5, 2021

Today’s customer is looking well beyond where they can get the lowest prices when making a purchasing decision. They want -and need- convenience, safety, flexibility, transparency, and high-quality personalized customer experiences. There are many different strategies and tactics your jewelry retail business can implement to meet those needs and increase jewelry sales. However, one that addresses each is the use of an effective virtual inventory.

Virtual inventories are way more than any visual catalog of a physical inventory. Among other things, a virtual inventory is a sales experience. It can meet the needs and wants of your target customers, making the sale for you. These experiences can mimic and improve on the best of in-store shopping experiences combined with eCommerce journies that ease the pain points of shopping for fine jewelry online.

Using virtual inventories to improve upon best practices for sales in the jewelry industry means competing better on customer experience and boosting your sales.

A Virtual Inventory Meets Customers Where They Are

Much of what customers need and want is answered in the sales strategy of meeting customers where they are. Customers need convenience and safety in their shopping experience. With the continued fallout of the pandemic and its lasting effects, this often translates to online spaces. Even without the pandemic concerns, customers also want the convenience of their own timelines and the comfort of their spaces. In other words, eCommerce needs to be an option.

This adds a particular challenge to the luxury jewelry industry as jewelry is often a larger investment. Thus, consumers habitually hesitate to make large purchases on items they have not interacted with physically.

With virtual inventory, you can solve those issues at the source.  Customers can shop in the middle of the night and even on their lunch break at work. Then, since Trueview AR’s virtual inventory uses annotated 3D renderings from uploaded CAD files, customers can get a real-time, detailed view of exactly what they are purchasing, including customizations.

Virtual sales goals are no different than those of in-person. Virtual inventory, though, helps lead a customer through the sales journey. It takes them from the questioning phase to solving a problem to placing value on your product.

Setting Your Brand Apart Increases Jewelry Sales

You want your brand to stand out. The best way to stand out in today’s market is to not only meet the needs of your customers but to create stand-out customer experiences. An engaging virtual inventory will differentiate your brand from competitors through interactive and transparent experiences with your products.

Virtual jewelry inventory uses 3D renderings to produce an AR inventory. Using augmented reality technology engages customers in a fun way, giving customers control over their interactions with your products, and ultimately their purchases. Additionally,  quality virtual inventory supports virtual try-on.  This gives easy access to your inventory and true-to-size renderings that are completely interactive. These features make your brand be memorable. And being a brand people remember leads to more first sales and even more return customers.

Virtual Inventory is a Customer Service Dazzler

Virtual inventory improves satisfaction with both your products and your customer service. For example, with a virtual inventory, you can always meet customer demand. Your inventory online and in-store is never limited to a physical stock because the CAD system in place allows customers to experience products through AR experiences and have their purchases made to order. As such, you’re less apt to lose business to a competitor because your customers won’t need to be told “sorry, we don’t have that”.

Plus, virtual inventory answers one of the greatest concerns of rising generations – transparency. With clearly annotated renderings, clear product information on materials and pricing, customers will feel confident in the integrity of their purchase. Transparency, then, improves customer service perception and customer loyalty will follow.

Virtual Inventory Makes Your Sales Team Smarter

A digital landscape lets you gather information about your customers’ shopping behavior in real-time. Data can provide you with actionable insights about your customers’ interests, history, price points, and preferences. You can easily see what designs are being accessed in your inventory, what customizations are being made, and the differences between an order dropped and an order purchased. Translate this customer information into trend analyses, forecasting, and assortment planning.

Ultimately, Good Sales Strategy Makes Your Customer the Hero

Your customers want to solve a problem. They need to feel like their in control of their journey. As dramatic as it sounds, they want to be the hero of their shopping story. A virtual inventory gives you so much power to meet those needs, providing a full and complete customer experience that moves customers through the sales processes seamlessly.

For jewelry customers, the heroic journey begins with virtual inventory that lets them explore, select and feel confident about their decisions, making the sale for you.

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