Product Manager - Diamonds (Category Manager)

Product Manager - Diamonds (Category Manager)

1. Product Curation:

1. Curate a compelling collection of diamond jewellery based on customer preferences, market trends, and competitor offerings.
2. Collaborate closely with vendor partners and manufacturing units to ensure jewellery design, quality, and pricing align with the brand’s image and customer expectations.
3. Regularly assess the product assortment to ensure it appeals to the target demographic and drives customer engagement.

2. Inventory Management:

1. Analyze sales data, trends, and forecasts to optimize inventory levels, ensuring fast-moving items are always in stock.
2. Minimize excess inventory and potential markdowns by strategically managing stock replenishment.
3. Work with the inventory team to track stock movements and maintain optimal stock levels for high-demand items.

3. Pricing and Promotion Strategy:

1. Collaborate with marketing and sales teams to develop competitive pricing strategies that balance profitability with market demands.
2. Plan and execute promotional activities and sales events, especially during high-demand periods such as Dhanteras, Akshaya Tritiya, and other seasonal times.
3. Monitor market pricing trends to ensure the store remains competitive while meeting business targets.
4. Design and implement attractive jewellery displays that enhance the perceived value of products and encourage customer purchasing.
5. Oversee product layouts, visual arrangements, and displays to ensure they align with the brand’s aesthetic and appeal to customers.
6. Create engaging content such as short videos showcasing the manufacturing process or product features to increase customer interest and sales.

4. Market Analysis and Trend Forecasting:

1. Conduct regular market research to stay up to date with emerging trends, popular fast-moving products, and shifting customer preferences.
2. Analyze competitor offerings and market conditions to identify opportunities for differentiation and growth in the diamond jewellery segment.
3. Use data-driven insights to forecast trends, adjust assortments, and identify new product opportunities.

5. Sales Performance and Strategy:

1. Monitor sales performance and product turnover to assess the effectiveness of the current assortment and pricing strategies.
2. Develop and adjust strategies to drive sales, improve product performance, and enhance customer experience.
3. Ensure the category meets financial targets while maintaining the brand’s reputation for quality and value.

6. Team Collaboration and Customer Experience:

1. Train and motivate retail staff on product knowledge, selling techniques, and customer service related to diamond jewellery.
2. Foster an environment that ensures a premium customer experience, from in-store interactions to after-sales service.
3. Address any customer concerns or feedback regarding diamond jewellery, ensuring high satisfaction levels.

7. Supplier and Vendor Relations:

1. Build and maintain strong relationships with suppliers and vendors to ensure product quality, timely deliveries, and favorable terms.
2. Negotiate contracts with suppliers to ensure competitive pricing and product exclusivity where possible.
3. Work with vendors to introduce new and unique jewellery designs that will appeal to the target market.