Buying a diamond is one of the most important purchases that you will make in your life, whether it is an engagement ring, wedding ring, loose diamond or jewelry for a loved one it is extremely important to put lots of thought into your purchase. Here are some tips on buying diamonds that will make sure you find the diamond that you want at a fair price.

It is important to educate yourself on diamonds before ever stepping into a retail store. Learning about diamonds is the biggest advantage that you can have in the buying process. Not only will being educated about diamonds help you get a fair price and understand if the diamond is a good value, but knowing about diamonds will help you choose a diamond more to your liking.

Start off learning the basics including the 5 C’s which are carat, cut, color, clarity, and cost. These are truly the main foundation of good diamond knowledge. Since most consumers already know about the 5C’s which are usually covered extensively, here are some tips on learning about the actual buying process in a retail or wholesale diamond environment.

As in any industry, there are good establishments and bad establishments. While at the retail level fraud is rare, you might find people that are willing to take advantage of a situation. A good retailer will try to help you find the diamond that is right for you. A good retailer will also take their time with you and ask you lots of questions.

Be aware of retailers that will immediately try to up-sell you on a diamond. They might not be interested in what you would like and automatically try to persuade you that a specific diamond is the diamond that you should look for. Beware of these types of retailers; they may be trying to get rid of hard to sell diamonds due to quality issues. A good retailer will also help educate you on what is a good diamond and the various traits of a diamond that are beneficial or decrease its value.

When buying a diamond from a retailer it is also important that they disclose everything about the diamond, that they tell you what is guaranteed and what services are included. A shady retailer will usually give you as little information as possible, will not write anything down and will just nod his or her head saying, don’t worry, everything is good.

If you want to find a reputable diamond dealer contact organizations such as the Better Business Bureau to see if a retailer has had complaints in the past, there are also diamond organizations that can point you in the right direction such as GIA (Gemological Institute of America) and American Gem Trade Association.

Once you find a good retailer and choose a stone, before purchasing it, ask to get it appraised by an independent appraiser. If the retailer says absolutely not, walk away from the sale. One of the strongest advantages that you have is having the stone independently appraised. A good retailer will give you the stone for it to be appraised by anyone you would like. You can have it appraised to see if the clarity, carat and color match what the retailer stated, and also to find out if there are any treatments such as fracture filling or color treatments that would decrease the value of the stone.

It is important for you as a consumer to exercise your preference to have the stone independently appraised. Some retailers will demand that you have it appraised by a certain appraiser. This should not be acceptable; you should be able to bring it to any appraiser that you would like.

Not only will an appraiser help you determine the quality of the stone, but will usually give you a dollar value for the stone. Some appraisers will give you both a retail and wholesale value for the stone (Retail prices are usually higher than the wholesale cost). Armed with this information will help you determine if you are getting a good deal on the stone or paying top dollar. This information will help you if you need to negotiate a fair price with the retailer.

Buying a diamond is one of the most important decisions in your life, so make sure you put lots of thought into the purchase and protect yourself using your diamond knowledge, independent appraisal and consumer organizations. Purchase your diamond the right way and you and your loved one will enjoy the diamond for many years to come.

Article from articlesbase.com

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Merchandising your cloths shop can be a tricky business to get right if you have little experience in this area. When planning your shop fitout or shop display the main thing is to have to right tools for the job. The number one product used in shop fitting is Slatwall Panels. These panels can come in many sizes, but essentially are wooden panels with many grooves routed into the them, allowing you use slatwall accessories in these grooves to create your shop display.

Once you have the panels up on your wall you now have many choices of accessories you can use, which ones you use are mainly down to personal taste. The main rules when creating your shop display are:

1. keep it attractive
2. keep it simple and
3. link items.

Display your most popular products at the front of your shop, this will draw customers in, always display at least 2 sizes for each item and keep replenishing stock during the day. If a customer cant see the size they want, not many will ask an assistant, so make sure you keep on top of that.
 
So we now have your most popular items at the front of your store, but where do you place the cash desk?. Many shops have these by the front door, but if you do that with your most popular items at the front, people will see those pay and leave. If you place the till point in the middle of your shop or towards the rear, then you are forcing customers to walk through your shop, they will be looking at your items while they do!

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Imagine doubling your inventory turnover rate (certainly not far-fetched with proper control): you could sell product at half the normal margin and still gross the same amount of dollars in a given time period. Inventory control has been used to take down many competing retailers.

Like much of the new technology available to business owners, Management Information Systems (MIS) is still evolving, and along the way it becomes both more sophisticated and less expensive.

MIS tools can be implemented to gain a significant advantage over competitors. However, it is critical that you understand the uses and goals of an inventory management system before implementing.

The best examples of inventory management come from big retailers. To put it simply: Kmart neglected inventory control and failed, and Wal-Mart concentrated on becoming the leading edge of inventory control and is now one of the world’s largest companies.

It is a common misconception among small retailers that only industry giants like Wal-Mart can use MIS effectively. Sam Walton himself began as a small retailer, but one of his most advantageous assets was his deep understanding of inventory control’s importance.

MIS is commonly regarded as a daunting system to implement by those with limited experience in this highly-technical area; however it is critical to understand exactly what MIS can accomplish.

Although internal hires are available, MIS is made greatly accessible to the small retailer by consulting companies. The basic goal of a point-of-purchase inventory control system is to provide information on profitability, status, and rate of sale for every item a retailer stocks, instantly. These metrics can then be used to improve inventory turnover and return on investment.

Once an MIS infrastructure is established, it makes sense for the retailer to integrate vendors into the system. Vendors are subject to an incentive to keep their inventory on store shelves, and systems are available which provide vendors with sales and stock information directly from the point of sale system.

Flowcasting the Retail Supply Chain

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Retail Price: $59.95

Amazon Price: $41.13

Anything that results in making the chain between Vendors, Retailers and Customers more efficient also results in additional profit. RFID, an example of an electronic recognition system, enables tracking of items via a computer chip embedded in the product or packaging, which is detected at various stages along the distribution process.

Product information obtained in this way is uploaded instantly to the inventory control system, which reduces the time spent in receiving and stocking and allows for a more efficient shipping process. It is imperative for retailers to be aware of inventory performance and its effects on profitability.

Inventory control is not, however, the answer to all questions. It doesn’t tell you what new products you should carry. Buying is a great area of opportunity, especially for the small retailer who is close to customers and much more responsive to their demands than is the national chain.

Of course, inventory control is not the ultimate solution to retailers’ problems. For example, inventory control tells you what products are performing well, but it can’t tell you what new products to stock. Inventory control is a great way for small retailers to act like one of the big guys, and gain an advantage over other small competitors.

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