Connect with us

Tips and How-To

Yoga, Tequila and Huey Lewis — Jewelers Share Their Most Unusual Holiday Coping Strategies

Everybody has to find a way to release the pressure somehow.

mm

Published

on

This story was originally published on INSTOREMAG.COM in November 2016.

1. I dance wildly to the radio in my back office. — Kate Pearce, Pearce Jewelry, West Lebanon, NH

2. I spray orange-scented essential oil around my store to heighten the good vibes. — Janne Etz, Contemporary Concepts, Cocoa, FL

3. Play as much Huey Lewis and the News on the store stereo system as possible. — Matthew and Emily Clark, Spath Jewelers, Bartow, FL

4. I’ve made a fair amount of jewelry while drinking tequila. — Daniel Spirer, Daniel R. Spirer Jewelers, Cambridge, MA

5. I dress up as Santa Kas. I have a lady Santa outfit. It’s pretty; not a Mrs. Claus outfit. — Kas Jacquot, Kas A Designs, Jefferson City, MO

Advertisement

6. Inhale rosemary essential oil for focus. — Julie Terwilliger, Wexford Jewelers, Cadillac, MI

7. I wear a bow tie every Christmas Eve while working the sales floor. I never wear bow ties, so it throws people off. — Marc Majors, Sam L. Majors, Midland, TX

8. I go out the back door and talk to myself, if just for a few minutes. Sometimes even the boss needs a pep talk or a scolding! — Rosanne Kroen, Rosanne’s Diamonds and Gold, South Bend, IN

9. I always have an adjustable set of dumbbell weights in my office. During times of stress or just to get my mind right, I will rep out a few sets. It tends to be a major stress reliever for me. It’s similar to positive reinforcement. — Howard Jacobs, Toodies Fine Jewelry, Quincy, MA

10. Every morning, I watch Golden Girls as I get ready for work. I get some of my best one-liners from Bea Arthur. — Mary Jo Chanski, Hannoush Jewelers, Rutland, VT

11. Downward dog yoga poses in the middle of the floor. — Meg Rankin, J. Rankin Jewelers, Edmonds, WA

Advertisement

12. Each morning, I start the day with a self-made juice consisting of carrots, beets, ginger, celery, apples, lemon, green peppers, bananas (bitter melon in season) and spinach. — Kent Bagnall, Kent Jewelry, Rolla, MO

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Advertisement

SPONSORED VIDEO

Les Georgettes

It’s All About Choices

With beautiful jewelry from Les Georgettes, choice is everything. Choose a design. Change colors. With 30 styles, 3 finishes and 48 stunning leather colors, you’ll never be at a loss for a unique piece of jewelry. Create, mix, stack and collect Les Georgettes by Altesse. Made in France.

Promoted Headlines

Columns

Five Steps for Making Your Bridal Business Hum Like a Well-Oiled Machine

Paying close attention to SKUs that generate special orders is one.

mm

Published

on

WE ARE LED TO believe that having the “biggest selection” in the market is the best approach when, in fact, that is counterintuitive to evolving retail models. Growing evidence to supports a “less-is-more” strategy across retail, and we should ask ourselves why bridal should be any different.

If having the biggest selection in bridal was the answer, retailers would have a much healthier inventory picture. The data, however, shows that the average retailer is not only seriously over-inventoried, but their current inventory is all too often misaligned with their best-sellers. You want your customers to have choices, but your bridal story should be curated for clarity, and you should closely analyze your data as part of the ongoing process.

Video: I Replied to a Diamond Scam Email … And Here’s What Happened
Fun

Video: I Replied to a Diamond Scam Email … And Here’s What Happened

Video: Here’s a Powerful Way to Make Your Jewelry-Store Advertising More Effective
Jim Ackerman

Video: Here’s a Powerful Way to Make Your Jewelry-Store Advertising More Effective

GOB Sales are Emotional — Here’s How to Stay on Track!
Sponsored Content

GOB Sales are Emotional — Here’s How to Stay on Track!

Fixing your bridal category doesn’t have to be a daunting task. Here are a few initiatives you can implement immediately:

Set your stock turn and return-on-investment targets. You should expect a minimum of a one-time stock turn, a big improvement on the current overall industry average of 0.47.

Review your data. Identify your fast sellers (items that sell within 180 days) in loose, semi-mounts and bands. There is simply no reason why you would ever be out of stock in these categories. For example, an SI1 G-H 1-carat loose diamond tends to be a fast seller, and yet it is often out of stock when we review retailer inventory levels. Know that any bridal that generates a one-time stock-turn at full margin within 365 days should be replenished.

Pay close attention to your live samples, such as semi-mounts and diamond bands, that generate special orders. Many retailers incorrectly assume that most of their bridal pieces generate orders, when in fact the vast majority of SKUs generate little to no sales at all.

Implement strategies to purge non-performing inventory. This should include stock balancing with your top vendors. Next, you can look at markdowns, spiffs and recycling non-performers into more basic (saleable) styles. Feature your markdowns in your email blasts and, possibly, on your social media platforms. Markdowns should take place starting with the one-year anniversary of receipt of a given item and continue every 30-60 days until the piece is gone. Be aggressive, as your objective is now about recovering your investment. Research shows with each passing year, you will get less and less on the dollar.

Re-merchandise. Clean up your jammed cases. Move your non-performers out of the case and create an organized back stock. This will allow you to display your best performers and strategically highlight your key pieces and collections. Putting your rings into collections such as “by designer” or by styling such as halos, three-stones, solitaires and so forth makes it much easier for your customer to shop.

Recognize that today’s young customer is not interested in navigating your sea of insignificant merchandise. They want to know what your store is about and why they should care. They are much more likely to respond to nicely curated stories than overflowing cases. Even in the case of bridal, more is definitely not more.

Continue Reading

Tip Sheet

How to Sell More “Spa Treatments” for Jewelry, and More Tips for September

Millennial shoppers respond to education, privacy and transparency.

mm

Published

on

TIME MANAGEMENTAim for Busy, Not Rushed

How should you strive to feel when working? Busy, but not rushed. Research undertaken by the University of Maryland found this is when people are happiest. And when you’re happiest — meaning engaged and in the flow as opposed to giddy with joy — you invariably do your best work. So, start creating realistic schedules, stop checking email every 15 minutes, take breaks to exercise, and stop letting other people set your deadlines (yes, you could finish the job by tomorrow, but Friday is best for everyone.)

MARKETINGA Time for Pampering

One of the key challenges at this time of the year is how to get customers in the door. The Gem Collection in Tallahassee, FL, does it with a “Spa Treatment” for rings. The treatment, which is recommended annually, includes inspection of stones by hand, ultrasonic cleaning, steaming of the stones to remove excess dirt, refinishing to remove scratches, polishing the ring, and for white gold jewelry, a rhodium finishing, all for one price. “The spa treatment name was used so that the customer feels as if their jewelry is being pampered instead of worked on,” explains co-owner Don Vodicka. “This has raised our repair sales and keeps our customers very happy.”

MARKETINgShout It in Brass

If you buy your diamonds from Antwerp, it’s always a good idea to let the world know about it. Molinelli’s Jewelers in Pocatello, ID, actually has it in brass letters on their wall.

SALESLaying on a Bridal FeasT

Showcases — who needs them? That’s the diamond-selling approach at Siegel’s Jewelry in Paso Robles, CA, where customers are encouraged to sit with staff at a custom-made, long community table to discuss jewelry. “I designed my store with a lot of seating space in order to show diamonds effectively, and to make my employees and customers more comfortable,” explains owner Ken Siegel.

STRATEGY“How” is the Enemy

Something all true entrepreneurs know: “How” is the enemy. “We always want to know how things will happen,” says Claudia Azula, a popular podcaster and co-author of the Power Of No. “But how is the enemy because it blocks the possibilities that open up when we are willing to not know. When you don’t know about tomorrow, all you can do is focus on doing your best today.” Stop thinking, Just go do it.

SALESKeep Me Safe and Prosperous

Buy an engagement ring at Eichhorn Jewelry in Decatur, IN, and you also get a “Keep Me” — an original document that travels with the piece of jewelry. The paper “encourages customers to spend dollars by emphasizing the legacy aspect of their purchase,” explains owner Eileen Eichhorn.

Continue Reading

Manager's To Do

A Trick to Selling More Platinum, And Other Manager’s To-Do Items for September

And here are some great tips for infographics in your store.

mm

Published

on

Sep. 1-7

INVENTORY The economy may be slowing a tad, but the wealthy keep getting richer. That is allowing more people to trade up from the standard 1-carat diamond engagement ring. But to sell 2-, 3-, or 4-carat pieces, you need to have a few on hand, says David Brown of the Edge Retail Academy. Start experimenting with more expensive bridal sets.

MARKETING Conduct an advertising review. If it’s bridal sales you desire, put that shotgun away. Pick one or two advertising media, based on their reach and return on investment, and concentrate on them. That requires courage and perseverance, but it’s the surest way to break through the chatter and win that key top-of-mind presence in your local market that will deliver engagement ring sales.

Sep. 8-14

STAFF Few things are more important to staff than having the sense that their work matters. As bridal season approaches, make it a constant refrain in your strategy meetings: you’re helping people with one of the most important decisions of their life.

SHOWROOM “It’s remarkable,” says merchandising expert Sally Furrer, “how often diamond areas are underlit in stores.” Crank up the lights.

Sep. 15-21

TRAINING The rise of the bead phenomenon in the last decade caused many jewelers to cut back on diamond sales training. If that happened in your store, look to bring in a trainer who specializes in bridal goods. It’s a whole different skill set.

MARKETING Twitter’s search function, along with free applications like TweetDeck, can be great tools for market research and lead generation. Start monitoring your competitors’ brand names and hashtags to see what people are saying about them and you. Set keywords related to bridal sales in your market and don’t be afraid to follow up (unsolicited messages from strangers is a fact of life in the Twitter-sphere).

Sep. 22-28

SOCIAL Want to take your social media efforts to the next level while educating your clientele about bridal in a way they’ll remember? Think infographics. Whether charting the evolution of diamond cuts or providing tips on ring cleaning, infographics are a great shareable way to communicate your message. Try these free infographic websites: Piktochart.com, Venngage.com, Easel.ly.

SALES Want to sell more platinum? Highlight its staying power. Keep an old white-gold ring and an old platinum one behind the counter to show customers what happens to the two metals after a few years. One of platinum’s strengths is the durability of its white color, which won’t fade or change (like an enduring love, hint, hint) and will continue to complement a diamond, as opposed to white gold, which fades to yellow.

Continue Reading

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular