Common Pricing Mistakes People Make In Pearl Jewelry Business

Many jewelers in a pearl jewelry business make mistakes at the time of pricing for repairing their jewelry. These mistakes can prove to be expensive for a business. Learning about these mistakes will help in preventing them in the future.

Reducing price just because it is too much for a consumer to afford

If you reduce the price of single pearl necklace jewelry because your customer can’t afford it, then it can be problematic for a pearl jeweler. Either your jeweler has to work quicker or round the clock while performing the job as the price is now lowered. You can’t do business in this way. There is change that your work quality can reduce and can bring bad reputation to you.

No training sessions

It has been observed that people in a jewelry business, make mistakes because of not having monthly sales meetings. This is the time when they train the staff on how jewelry repairs are priced. The lessons and learnings that a staff learns during these sessions are really helpful while dealing with the staff.

Inability of judging time need to perform the repair

Problems can occur when your jeweler isn’t certain about the actual time that it is going to take to price the pearl jewelry. At the time when a pearl jeweler makes a commitment for a specific time and takes double time for the repair, then it also degrades their service.

Inability to price now and calling customer later

Whether it is a custom job or a repair job, if a jeweler comes with a price estimate but not able to perform pricing now, then there is no reason why it can’t be priced now. In addition to this, customer will even lose enthusiasm. So, it is better for jewelry business owners to quote for the pricing now.

Prejudices

Prejudging that your customer would not be able to pay for a jewelry repair as you are worried that they think the repair price is a lot more than what the jewelry actually is worth of. It is your decision if a customer doesn’t spend the money.

Conclusion

All these pricing mistakes should be eliminated to ensure smooth business operation.