The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

What to do with 'Showrooming' Jewelry Shoppers

June 2, 2016 12:44

You've probably seen this scene play out more than a few times in your storefront: a customer walks in and starts browsing your selection. Maybe they interact with the sales team and ask to try on a ring or necklace - but they are glued to their smartphone almost the whole time. In the end, they leave without making a purchase. You may have just witnessed “showrooming” in action.
A form of comparison shopping, showrooming is when a customer visits a brick-and-mortar store to inspect products first-hand, only to try and get a better deal by purchasing online. It’s a challenge faced by many small business. But luckily, jewelers have some inherent strengths over their online competition.

Some specialty fashion stores in the US and Australia have introduced a "fitting fee" for browsing, which is refunded in full if the customer makes a purchase. However, charging a cover fee to enter the store doesn’t fit with all business models, or the image you want to project to shoppers. Instead, think about what you can give customers that they can’t get online.

Emphasize benefits such as free/discounted cleaning or resizing for purchases, and the expertise available only at your store. Consider adding other sales incentives such as price-match guarantees, simplified return policies, or additional services. You can also try to curate your inventory to include more unique items that can’t be easily found online. By going that extra mile, you can convince a showrooming shopper that best deal is coming from you.

Instagram for Jewelers

April 14, 2016 03:00

Instagram can be a great tool for marketing and growing your small business - especially if that business is jewelry. As an image-based social network, it's an excellent online venue for showcasing your products while interacting with your fans and customers. If you want to start marketing and selling your jewelry on Instagram, use these tips to make the most of your efforts.

Take good photos

Since Instagram is an image-based site, quality photos of your products are a must. Overall, it’s important to consider staging – you want to showcase your jewelry. Showcasing your product would be when you photograph it in use, in a unique setting, or showing examples of how it can be used. For example, don’t just share a photo of your necklace on a table. Instead, share a photo of it paired with a seasonal shirt or paired with a ring you have available. For more photography tips, you can check out our infographic on jewelry photography to help improve your technique.

Write good descriptions

Use the caption space to create a description that will entice your customers to buy. Don’t just include details about alloys or dimensions. Tell a story by talking about what makes the piece special, how it was inspired, and how it’s meant to be worn.

Use Hashtags

Hashtags (e.g. #fallfashionjewelry) allow you to "tag" your photos with categories and frequently searched terms. Generally, you want to use descriptive words that are relevant to your product photo. You can also create a hashtag unique to your brand (e.g. #mgsrefining) to help fans follow your products.

Have fun

As with maintaining a business presence on other social media channels, you do not need to make every single post about an item listing. Showing off your latest products is important, but users may be turned off by constant self-promotion. Engage your fans by showing your fun side with behind-the-scenes photos of your workbench or lifestyle content.



Tips for Selling Palladium Jewelry

March 10, 2016 05:00

Palladium has been used to make jewelry for a very long time. However, this metal has never been very popular with either customers or jewelers. A difficult casting process makes palladium difficult to work with for less experienced jewelers, while most customers have never heard of palladium - if they have, they usually have no idea what makes it different from platinum. 

In appearance, palladium jewelry looks similar to platinum, silver, and white-gold jewelry. It’s not just value and rarity that sets palladium apart from those metals – palladium jewelry functions differently. Compared to other jewelry metals, palladium has numerous advantages that appeal to discerning customers. For example, platinum is a very strong metal, but it easily develops a permanent patina of scratch marks. Because platinum is so hard, the scratches usually can't be polished out. While some consider this feature to be a hallmark of the jewelry’s character, those who desire pristine looking pieces will be disappointed. Palladium, however, is more malleable so any scratches can be more easily polished out.

Because of its uniqueness and multiple advantages, it can be well worth the effort to expand your shop’s palladium offerings. Our infographic below has palladium’s strongest selling points to help you guide prospective customers.


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