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Store Advice

Manager's To-Do: February 2012

Last Updated on Thursday, 26 January 2012 08:31 Written by admin Thursday, 26 January 2012 00:30

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Week 1

JAN. 30-FEB.4

  • MARKETING Segment your e-mails by gender. The message for men is: We are your V-Day solution.

  • PUBLICITY Send press releases to local media outlets spotlighting “What’s going to be hot for the day of love.”

  • SALES Announce your big spiff for the salesperson who sells the most “jewelry for friends” for Valentine’s. How about an extra day off after Washington’s Birthday? (Feb. 20)

  • OPERATIONS Feb. 14 falls on a Tuesday this year. Review your “lastminute panic-buying” strategy. Prepare a shortlist of popular items at different price points for male customers.

    • Week 2

    FEB. 6-11

  • STORE Ruth Mellergaard of design firm GRID|3 says she is amazed how often she enters a store and finds lights that have burned out and not been replaced. “If fluorescent isn’t working because the ballast is broken, repair it. This could be your chance to be more energy-efficient,” she says.

  • INVENTORY Mercedes-Benz Fashion Week runs from Feb. 9-16. Assign a staffer who loves fashion to follow the news and prepare a report for your sales staff. Compare her notes with the jewelry you have in stock.

  • TRAINING Reinforce the idea that V-Day is a pure emotional sale.

  • MARKETING E-mail reminder: “Three days left ’til Valentine’s Day!” List your top 10 ideas for gifts.


    • Week 3

    FEB. 13-18

  • FINANCES Check with your bank to see if they offer payroll assistance, urges David Geller. Many banks now allow you to log onto their website and enter your staff’s hours. Everything including taxes is then taken care of.

  • INVENTORY Begin preparations for Mother’s Day and graduation season. Look for a bridal fair to attend.



    • Week 4


    FEB. 20-25


  • MANAGEMENT There’s no one correct way to arrange the information on a profit-and-loss statement. If you have trouble understanding yours, ask your accountant to redo it so you can tell instantly what went right (or wrong) in the previous month.

  • MARKETING Set up a “clientelling” program to keep in touch with your best customers. While just over 25 percent of a jeweler’s business comes from the big holidays, the rest comes from milestone events like anniversaries and birthdays.


    • Week 5


    FEB. 27- MAR. 3


  • STAFF You may not need new people now but always have a list of potential candidates. Look at it long-term: When
    you’ve got the best people running things, you can take your kids skiing in France.


    • This story originally appeared in the February 2012 edition of INSTORE.

     

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