Jewelry retail is big business. Globally, it generates $350 billion per year with the top 50 companies accounting for half of that total. The largest retailers have dozens of locations and hundreds (or even thousands) of employees. That’s a lot to manage!
Luckily, choosing a jewelry point of sale system tailored for the industry can make a significant difference in streamlining these operations. Let’s delve into the benefits of a jewelry store POS system, the key features to look for, and the top software providers.
Like any retailer, a POS system acts as your right hand in day-to-day operations. It can do the work of multiple employees, including:
POS systems streamline the checkout process, making payment processing faster and reducing wait times. They also offer features like discount and promotion creation, which can encourage impulse purchases and boost overall sales. Modern POS solutions allow you to set up sales so eligible jewelry items are automatically discounted when they’re rung up.
Detailed sales reports generated by the POS provide insights into top-selling items, helping you optimize inventory and marketing strategies to maximize revenue. This is necessary to help you decide which promotions are worth running, and which ones aren’t.
With a jewelry POS system, your customers can enjoy seamless online and in-store transactions — and a personalized experience that caters to their unique preferences.
Customer profiles stored in the system allow you to track purchase history, sizing, style preferences, and special occasions. This customer data supports targeted marketing efforts, ultimately enhancing the shopping experience and fostering customer loyalty.
POS systems automate various operational tasks such as inventory management, employee scheduling, and business reporting. Real-time inventory tracking ensures popular items are always in stock, reducing lost sales due to inventory shortages.
Employee scheduling features help optimize staffing levels based on sales trends, ensuring efficient service during peak hours. Detailed reporting capabilities provide valuable insights into business performance, enabling informed decisions to drive growth and profitability.
Incorporating a reliable POS system tailored for jewelry stores not only enhances operational efficiency but also plays a crucial role in creating a positive customer experience that drives sales and fosters long-term customer relationships.
Related Read: Gems Inventory Management 101 (+ 7 Best Practices)
When looking for a jewelry POS system, the key is to find a solution that meets your exact needs. POS software that works for a restaurant or clothing retailer won’t fit all the needs of a jewelry store. Here are some important features to consider:
Custom orders and repair tracking: Support for custom designs and efficient repair management, including certification management.
Related Read: 8 Jewelry Store Marketing Ideas To Try Right Now
The Best Jewelry POS Software Providers
Which point of sale providers offer the industry-specific features and support you need? Let’s explore a shortlist to make your buyers’ journey easier than ever.
It’s in the name. Jewel360 is an e-commerce and point of sale solution made specifically for jewelers. It has detailed inventory management that tracks gemstones and metals, customizable pricing for jewelry items, and integrates with appraisal tools and repair services. It also offers comprehensive sales tracking, customer relationship management, and advanced reporting.
Pricing: You can design your jewelry POS the way you want! Contact for custom pricing.
Lightspeed offers robust inventory management, including batch and lot tracking for high-value items. It has a built-in CRM for managing customer relationships, multi-location management, e-commerce integration, advanced reporting, and employee management.
Pricing: Plans start at $89/month per register. Additional features and integrations might cost extra.
Features: Square for Retail is user-friendly with real-time inventory tracking and robust reporting tools. It also includes a built-in customer directory, employee management, and seamless integration with Square’s payment solutions.
Pricing: No monthly fee! You just pay transaction-based fees (2.6% + 10¢ per swipe, dip, or tap). There are additional costs for premium features and hardware.
Features: The Edge is a comprehensive jewelry POS with inventory management, sales tracking, customer relationship management, appraisal management, repair tracking, advanced reporting, and marketing tools. It’s designed to handle all the complexities of jewelry retail.
Pricing: You’ll need to reach out to them for pricing details, as they offer customizable pricing plans based on what your business needs. Expect to pay in the thousands of dollars for a single store location.
Features: Perfect for small to medium-sized retailers, RetailEdge offers inventory management, sales reporting, customer tracking, repair and appraisal management, customizable pricing, detailed sales analytics, multi-location support, and integration with QuickBooks and other third-party software.
Pricing: Starts at a one-time purchase of $495. There might be additional fees for support, updates, and extra features.
Which point of sale system is the best for your business based on features, reviews, and pricing? All signs point to Jewel360.
Jewel360 is an e-commerce and POS solution designed specifically for jewelers, offering comprehensive features that streamline operations and enhance customer satisfaction. With serialized inventory management, customizable pricing options, work orders and repairs, and in-house payment processing, Jewel360 empowers you to effectively manage and grow your business.
Don't miss the opportunity to unlock new levels of efficiency with Jewel360! Schedule a free demo today to experience the top-rated industry software firsthand.