How to Sell to Female Self-Purchasers

RAPAPORT... It shouldn't be a novel idea, but in the jewelry industry,it's practically revolutionary. Unlike in almost every other fashion andaccessory retail sector, the idea of jewelers targeting female shoppers asdirect consumers only began to emerge fully in the past couple of years.But why has this strong and fast-growing segment beenoverlooked in the trade for so long? In this male-dominated industry - from itsstore ownership to its designers, salespeople and marketing teams - thelong-held belief that men are the primary purchasers has centered aroundbig-ticket items such as engagement rings. However, women are no longer the homemakers. They areentrepreneurs, professionals and business owners with established careers. Theyare not only willing to spend money on themselves, but empowered to do so bytheir circumstances. The problem is, while the times have changed, jewelryretailers - and their marketing - haven't. More than half of millennial-age women say they are theprimary buyers of jewelry in their households, according to a study by MVIMarketing. Beyond that, women control more than $20 trillion in global spendingand make up 85% of all brand purchases, said marketing consultant StephanieHolland in a recent webinar hosted by jewelry-industry group the Plumb Club.Holland, who founded the She-conomy blog and specializes in marketing to women,added that within the next decade, women would control more than two-thirds ofconsumer wealth in the US. Putting that into context, if jewelry retailers continue onthe same marketing and selling trajectory they have followed in the past,without taking into account who's actually making the purchase, they will beseverely impairing their business and cutting off a large portion of potentialsales. Lyst, a global fashion-search platform, says that while women are likelyto spend less on an individual piece, they buy up to three times more jewelrythan men do. But overhauling a long-standing practice isn't simple, sohow do you sell to self-purchasing women? First and foremost, it's imperativeto understand their needs and desires, and that begins before they even walkinto the store. How it looks vs. how it feels Retailers need to take into account the difference inmind-set between women and men when it comes to a purchase, says Andrea Hill,CEO of Hill Management Group. While men base purchases more on performance orthe status it can bring, women relate on a more emotional level, explains Hill,whose company provides consulting, marketing and other services to small andmid-size businesses. Men tend to shop visually, which is why a car advertisementfeaturing a sexy woman appeals to them, she says; it equates the product withvirility. However, when it comes to attracting female shoppers, a woman wantsto know how the item will make her or her loved ones feel, or how it relates tothings that matter to her, according to Hill. "Just showing a picture of thejewelry, the car, the beach vacation, that doesn't work so well for women," shesays, but depicting her wearing a necklace while enjoying quality time with herfamily or while out to dinner with friends is a good way to close a sale. On the huntMen are utilitarian shoppers, focused on the buy, Hillcontinues. They have a goal and want to get in the store, get what they needand get out, while women are much more interested in the hunt. "For women, shopping is an activity, not just an objective,"she clarifies. "It's not just about the thing you end up buying, it's all thefun that went into buying it." That's why retailers need to find a way to engage a woman'sneed to hunt, and not simply purchase. They need to create an experience thatwill generate interest and deepen her interaction with the brand, Hill says. Keep it subjectiveWhen it comes to the need for knowledge, men are relativelysimple, according to Hill. They want objective information, such as the designor functional requirements of the item they're looking to purchase. Women, onthe other hand, are looking for objective and subjective information, such asemotional and social cues, which means retailers need to make it easy for womento share their shopping experience. "The typical millennial has no problem telling a salespersonto 'hold on - I'm sending a picture of this to my best friend to see what shethinks,'" Hill says. "That millennial's mom probably wants input, too, but shewasn't raised taking pictures of everything...and it feels rude to her to do itwhile a salesperson is helping her." If retailers see a client shopping for an expensive item andnotice she isn't with a companion, they can encourage her to share and help herdo so, Hill suggests. She recommends simply asking, "I can see you like thoseearrings, but is there someone you'd like to send a picture to, to get anotheropinion? If you put them on again, I can take a picture with your phone, andyou can text it to [whomever you want]." Play with the spaceWomen don't enjoy the traditional jewelry-store experience,Hill says. While men tend to think about space as compartmented, organized andsequential - which is how most jewelry stores are set up - women often find itboring. They don't want to see rings with rings, metal with metal, diamondswith diamonds. They want to mix and match and see how things work together. "The vast majority of jewelry stores are designed for men'ssensibilities, not women's," Hill points out. "For women, the average jewelrystore is dead space. There's no life in putting things in separate cases and categories.Men are very linear when they shop; women are very organic. [For them], there'sa creativity to shopping." Most importantly, retailers need to speak to women, ask themwhat really matters to them, and above all, pay attention to their responses.Even if a client wants a lower-end item and you want to upsell, you should doit relative to her interests, Hill advises; if you're just upselling and itdoesn't add value for her, it's not going to be successful. "Value is defined by the buyer, not the seller," shestresses. "Ask enough questions, listen hard enough, and you will figure outsome ways to increase your sales to her - but not necessarily doing the thingsyou're used to thinking of, because those are your definitions." In Their Own Words?EUR?Some 91% of women feel that advertisers and stores don'tconnect with them, She-conomy blog founder Stephanie Holland said in a PlumbClub webinar. They don't see many women working in traditional fine-jewelrystores, they don't see much product variety, and they find stores intimidating, ?EUR? One-third of diamond jewelry purchases in the US were bywomen as of March this year, according to the Diamond Producers Association. ?EUR? The number-one reason women buy themselves jewelry - citedby nearly 60% of female self-purchasers - is "just because" or to "treatthemselves," an MVI Marketing survey found. ?EUR? Nearly 75% of women say they are willing to walk away ifbrands don't listen to them, reported Holland. ?EUR? Although 90% of women prefer to buy in a physical store,when they do browse online, they will exit a vendor's website immediately if itdoesn't allow shoppers to make a purchase, says Andrea Hill of Hill ManagementGroup. ?EUR? Women tend to be budget-minded, and consider $50to $2,000 an affordable price range for jewelry, reports fashion-search programLyst. This article was first published in the November issue of Rapaport Magazine.Image: A woman buying jewelry. (Shutterstock)