Why Should Jewelers Use Data Analytics?

JewelTrace Data Analytics

DATA ANALYTICS FOR JEWELERS

Business Intelligence through RFID powered live data analytics

What type of data analytics for jewelers is available? What data is really useful for jewelers? How can data help increase profits and reduce losses for a jeweler? JewelTrace answers all these questions by offering the following data:

  1. Inventory: Daily visibility on merchandise movement including viewed/not viewed, slow-moving and dead stock. The ability to capture live data on items viewed and then compare it to items sold, allows a jeweler to understand customer trends, the effectiveness of marketing campaigns and capture slow-moving or dead stock early.*  Data of what items were viewed or not viewed, inside a store, is not possible from any current ERP or POS software used by jewelers today.
  2. Sales: By branch or individual showcase from inside a store. Filter sales by style, brand, sales date, showcase, customer and sale by an employee.
  3. Employees: View & compare activities by an employee from the number of customers served, items shown, length of time per customer, conversion ratios, and average amount sold. This will give owners the information needed to help tweak their sales team for more conversions.
  4. Customers: Track every store visit, who served them, what the customer viewed, was quoted or bought and their purchase power. Collate customer data to recognize shopping trends, preferences and then use this data for targeted marketing and promotion opportunities.
  5. Transactions: View and collate all transactions from sales to quotes by date, salesperson, customer, branch, etc. All data is captured with the use of the JewelTrace solution by the sales team inside the showroom or out in the field.

This type of data analytics for jewelers is only possible by the use of our JewelTrace solution. The solution uses RFID powered hardware and tags, together with an app that is used in-store and a web management software.

Contact us today and learn how to empower your jewelry business with our RFID-powered inventory management system and data analytics for your business. JewelTrace is powered by Spacecode the leading  RFID technology for diamonds and jewelry.

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