Eileen McClelland

5 Points that Will Impact Customer Service, Sales, and Management in 2020

Published

10 years ago

March 3, 2015

Eileen McClelland

Kate Peterson , president of Performance Concepts, spoke at the AGTA Gem Fair in Tucson last month, about what we can expect in 2020 that will affect the jewelry business.

Here are five points she discussed that will have an impact not only on customer service and sales, but on hiring and management practices as well.

Trophy generations. For about the past 40 years, kids got a trophy just for showing up. For shoppers and employees today and through the near future, it means they often don’t care what you have, what you know or what you’re showing. They care instead about what it means to them, personally. Customers care less about what they can buy and more about what they can create, while employees demand work-life flexibility.
Multi-generational job force. By 2020, four or even five generations will be working at once, since baby boomers are working longer and young people are coming into the business younger. Employers who can leverage the experiences and backgrounds of a diverse workforce for a broader exchange of ideas, knowledge and opportunities, will see significant payoffs.
Social responsibility. Job seekers and customers increasingly will gravitate to socially responsible and green companies they can be proud of. It can be a make or break issue in terms of recruiting the best available talent.
A talent shortage is looming. Start providing training, developing and mentoring programs to build and retain future leaders.
The democratization of information. Employees will expect transparency, engagement and real input into the mechanics of the business. Instead of trying to keep secrets, just tell them the truth, she advises. “What’s the harm in letting your sales staff know what your margins are, and how they can advance in salary. The payback is much bigger than the risk.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”