Jewelry stores derive their income from not only selling but also often servicing various types of jewelry. Such services might include engraving, cleaning and repairing jewelry. While some stores may specialize in a specific type of jewelry, most stores offer a variety of different styles. According to a Statista report, “Revenue in the jewelry segment amounts to $18.6 million in 2019 and is expected to grow annually by 0.9%.” We take a look at the factors that a value added reseller can help them look for in a point-of-sale system for their jewelry store.
Given the vast assets kept in stock in a jewelry store, accurate inventory management is a must for any jewelry store owner or manager. The POS system that your merchants select should give them the ability to continually monitor the jewelry they have in stock so they know which items are popular and which items may require additional promotion. Inventory tracking through their POS will also help them to quickly identify any losses.
The ability to track sales history is vital for any type of retail establishment. In the case of a jewelry store, it is important to be able to quickly identify items purchased in the past so that your merchants can provide improved customer service. This can be particularly true in the event that an item purchased from their store should require service in the future. With a robust jewelry store POS, it is possible to quickly access sales history information. The POS can also provide detailed sales reports so that merchants can gain increased insight into the success of their business.