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By The Numbers: December Not Quite as Bad

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12 years ago

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[h3]December Not Quite as Bad[/h3]

By The Numbers: December Not Quite as Bad

[dropcap cap=T]he bad news: December’s numbers were dismal. The good news? The percentage drop was less than in November. Interestingly, the average store sold 48 more items in December compared with the same month in 2007. However they reduced their average retail value by such a degree ($99, or 28 percent) that gross profit was slammed. Such a strategy is not sustainable. You have to get back to selling at full price. That could mean eliminating some vendors and focusing on serving your best customers by doing things such as throwing invitation-only private events. Cutting costs will also boost your margin.[/dropcap]

By The Numbers: December Not Quite as Bad

 

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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 March 2009 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].

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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.”

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David Brown

By The Numbers: December Not Quite as Bad

Published

12 years ago

on

{loadposition davidbrownheader}

[h3]December Not Quite as Bad[/h3]

By The Numbers: December Not Quite as Bad

[dropcap cap=T]he bad news: December’s numbers were dismal. The good news? The percentage drop was less than in November. Interestingly, the average store sold 48 more items in December compared with the same month in 2007. However they reduced their average retail value by such a degree ($99, or 28 percent) that gross profit was slammed. Such a strategy is not sustainable. You have to get back to selling at full price. That could mean eliminating some vendors and focusing on serving your best customers by doing things such as throwing invitation-only private events. Cutting costs will also boost your margin.[/dropcap]

By The Numbers: December Not Quite as Bad

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 March 2009 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

Related Topics:

click to Comment(Comment)
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