When a business owner gets to the point that their operations are getting increasingly complex and harder to track, it is usually time for a change. It really does not matter whether you sell designer jewelry or rare gemstones, you need software to help manage all the moving pieces of your jewelry store. From vendor management to tracking stock and purchase order creation, a POS system can help you manage your jewelry store throughout the year.
There are several questions that come up when you think of a jewelry point of sale system for your business One of the first questions: what kind of automation software can move my company to the next level? Many other questions follow. Should I choose a cloud-based, or an installed solution? Generic software or jewelry specific software?
Now, to summarize how to select the best POS system for jewelry management, we first need to understand and consider the software solutions that are aimed to help the jewelry industry specifically.
A reliable specific jewelry point of sale system is essential for a jewelry business that wishes to track inventory levels, movements, sales, marketing efforts and more importantly to run reports.
Jewelry store staff are there for their sales abilities and design skills. Keeping in mind that employees who are using the POS system may or may not be tech savvy people, a user-friendly interface is a must. It reduces the employee training time and streamlines the selling process, notably improving customer engagement.
The POS system should be able to manage your customers’ information, as well as overview their preferences, wish-lists, and past orders. Sorting your customers in different categories and pricing levels should be one of the features. Throughout the ages, people have celebrated their happiest occasions with jewelry. It is a tradition across the globe. Whether your customers are celebrating an engagement, a graduation, a birthday, or an anniversary, you want your POS to provide the information you need to ensure they celebrate with a gift from your store. Look for a POS that tracks this type of information and allows you to easily access it
It should manage many different products without any fuss, the attributes of a diamond, a ring, a necklace or a pendant can be quite different and need to be tracked and priced differently. And the system should be able to handle these product attributes and different product categories. While many POS systems can manage a variety of stock types, a jeweler centric POS system is customized to elegantly handle the unique attributes of each jewelry item. Something else to investigate, what are the RFID and barcode options available?
The jewelry POS system should have a sales module that handles sales transactions quickly, accepts any modern payment methods, and generates inventory movements (for sales and returns). Creating price quotes, layaways, and refund handling are similarly important features. It is a strong plus if the POS includes marketing tools, e.g., gift cards, loyalty programs, and other options for promotions. Compare the POS options with the transactions you regularly use. In addition to traditional product sales, does the system accommodate what you need such as memos, custom pieces, repairs, or insurance sales
Traditionally, POS systems had stationary terminals. Now, they are often mobile, on tablets or laptops. It is important to understand the structure of the POS. Do they charge by terminal, by user, by usage? Is it easy to increase or decrease workstations as your dynamic business changes? The size of the store and employee usage are both factors in determining your needs.
Control and Visibility Owners and managers want insight into the daily activities in their store. What type of reports are available? Who can access them? Are there different permission levels for different employees? Is there a log of all activities? If it is a cloud-based system, what are the security measures in place? If it is a local system, how can the system be accessed if not in the store?
Customers pay through a variety of payment options. It is for this reason, that the POS chosen for the jewelry store must be advanced enough to support different modes of payment choices, such as debit cards, credit cards, and cash as well.
Jewelers are known for their smart approach to capitalizing on potential revenue opportunities. For this reason, they have services that fulfill the expectations of their customers and generate revenue with on-demand selling including other services like engravings and repairing. The selected POS must include these additional services. If a merchant has multiple locations or has a plan to open another store, their POS should be equipped with the feature to track inventory transfers as well as sales at all locations.
Thanks to the Internet, like other businesses, jewelers can also be operated online. For merchants with an online store, their POS must be able to enter each and every piece of jewelry in the inventory, allowing it to be ordered and purchased anytime a buyer wants.
I hope this article will help you make an informed decision while adopting a system for your jewelry business. Rareworks offers Swim POS, a system which clearly fulfills all the needs of a jeweler. It helps you in inventory management, sales, payment processing integration, customer management, and has a user-friendly interface.