Connect with us

By The Numbers: Closing Rate Hike Impacts Bottom Line

Published

on

{loadposition davidbrownheader}

[h3]Closing Rate Hike Impacts Bottom Line[/h3]

By The Numbers: Closing Rate Hike Impacts Bottom Line

[dropcap cap=S]ure, Everybody would like to close a few extra sales a day, say just one more for every 10 of those tire kickers. But what most jewelers don’t realize is just how spectacular the impact would be on their bottom line if they could up their closing rate by that 10 percent.[/dropcap]

The average U.S. store has a closing ratio of 1 in 9. Look at what happens when you convert just 10 percent of those non-buyers: An 80 percent improvement in sales! You don’t have to be pushy, but there’s always room for more efficiency on the salesfloor. Brush up your skills or invest a little more time in your staff’s training. It’s worth it.

By The Numbers: Closing Rate Hike Impacts Bottom Line

Advertisement

 


 

David Brown is president of the Edge Retail Academy, an organization devoted to the ongoing measurement and growth of jewelry store performance and profitability. You can contact him at [email protected]

[span class=note]This story is from the September 2008 edition of INSTORE[/span]

If you’d like to contribute your own data and receive a personalized KPI report each month, call (877) 910-3343 or e-mail: [email protected].

{loadposition xtra-browncolumn}

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

Promoted Headlines

Most Popular

David Brown

By The Numbers: Closing Rate Hike Impacts Bottom Line

Published

on

{loadposition davidbrownheader}

[h3]Closing Rate Hike Impacts Bottom Line[/h3]

By The Numbers: Closing Rate Hike Impacts Bottom Line

[dropcap cap=S]ure, Everybody would like to close a few extra sales a day, say just one more for every 10 of those tire kickers. But what most jewelers don’t realize is just how spectacular the impact would be on their bottom line if they could up their closing rate by that 10 percent.[/dropcap]

The average U.S. store has a closing ratio of 1 in 9. Look at what happens when you convert just 10 percent of those non-buyers: An 80 percent improvement in sales! You don’t have to be pushy, but there’s always room for more efficiency on the salesfloor. Brush up your skills or invest a little more time in your staff’s training. It’s worth it.

Advertisement

By The Numbers: Closing Rate Hike Impacts Bottom Line

 


 

David Brown is president of the Edge Retail Academy, an organization devoted to the ongoing measurement and growth of jewelry store performance and profitability. You can contact him at [email protected]

[span class=note]This story is from the September 2008 edition of INSTORE[/span]

If you’d like to contribute your own data and receive a personalized KPI report each month, call (877) 910-3343 or e-mail: [email protected].

Advertisement

{loadposition xtra-browncolumn}

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

Promoted Headlines

Most Popular