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Manager's To Do

Capitalizing on Valentine’s Engagement Sales, March Madness and More March To-Dos

Your managerial planning for the month starts here.

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Mar. 3-9

BUDGETING Time to get started on making a budget for the 2019 buying season and get ready to trade in old inventory for new inventory. Also, if possible, have an inventory reduction sale to get rid of the dated inventory before going to Vegas.

SALES FLOOR Beware the ex-brides of March! Divorce filings are highest this month. Do you have a script ready explaining why the resale value of an engagement ring may not meet the customer’s expectations? If not, get busy.

Video: How to Achieve a $100,000 Day in Your Jewelry Store
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Video: How to Achieve a $100,000 Day in Your Jewelry Store

Video: Increase Your Jewelry Sales Through Add-Ons
Jimmy Degroot

Video: Increase Your Jewelry Sales Through Add-Ons

Video: It’s Not My Problem When You Buy a $120 Ring and Your Wife Finds Out It’s ‘Fake’
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Video: It’s Not My Problem When You Buy a $120 Ring and Your Wife Finds Out It’s ‘Fake’

MARKETING Remember all those clients who bought engagement rings in advance of Valentine’s Day? Call to see what their plans are for wedding bands.

Mar. 10-16

MERCHANDISE It’s March. Embrace the madness. The NCAA Men’s Basketball Finals starts on March 17 and runs through to April 8. It’s a great chance to clear out old inventory with a quick Sheer Madness Sale! At the very least, organize a pool for staff.

SHOWROOM Is your custom area as friendly as it could be? Does it feature a gallery highlighting past designs, portraits of satisfied customers, updated displays, appropriate lighting, a signature scent?

Mar. 17-23

MARKETING Hold a Prom Dress Party. Encourage girls to bring their dresses into the store and try on jewelry with the dress. Identify pieces to excite them at prices that will entice a sale (that means jewelry with a big look for less money).

MERCHANDISING Pull out your promotional calendar and view it from the perspective of using the events to manage and reduce specific inventory. Annual customer appreciation sales, trunk shows, open houses, and repair/jewelry remodeling events can all give your finances an even greater boost if you execute them with a view to moving certain items.

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MANAGEMENT Download a time tracker to your phone and start logging how you spend your work life — not because there’s much value in the record you create, but because the very act of recording can have a powerful psychological impact, leading you to use your time much more efficiently. (Warning: Brace yourself to be alarmed at how you fritter away time.)

Mar. 24-30

SHOWROOM In one analysis of a university building in Oregon, workers on the greenery-facing side took 19 percent fewer sick days. It apparently has to do with how we evolved to function best in nature-rich settings. If you can’t knock a side wall out to provide a view of the glorious outdoors, buy a few potted plants to place around your sales floor.

PERSONAL Take an inventory of your tech use and evaluate each item for its usefulness, working on the assumption that if something can’t justify itself, it’s out. Exit the social networks you barely use and get rid of the apps that, when you think about it, have no benefit. Yep, that means Candy Crush may have to go.

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

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A Good Idea for Thanksgiving, and More Important Dates for November

Includes a fitting tribute to the quiz show Twenty Questions.

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2 The quiz show TWENTY QUESTIONS MADE ITS DEBUT on national television on this day 70 years ago. Mark the occasion by brainstorming 20 questions to get your customers talking. Sami Fine Jewelry in Fountain Hills, AZ, came up with a list that ranged from icebreakers like “What kind of pets do you own?” to those with a specific sale in mind: “How would you like to be a hero for under $100?”

19 Mark management expert PETER DRUCKER’S BIRTHDAY by saying no to something that you feel is vaguely important, but if you were to be brutally realistic, you don’t have time for.

28 Get in the spirit of THANKSGIVING by sending a goodie bag to your best 50 customers (be sure to include a coupon). It’s likely they provide an outsized contribution to your success.

29 It’s showtime! BLACK FRIDAY marks the traditional start of the shopping season. Spur your holiday sales with a special coupon mailed to your customer list.

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Manager's To Do

Considering Store Layout, Guilt-Easing Gift Ideas, and More Manager’s To-Do Items for November

And here’s a key scheduling tip for your holiday email marketing.

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Nov 3-9

STORE LAYOUT Look out for store fixtures that are too tall to allow shoppers to look across and take in your store. Fixtures that restrict visibility through the space kill the “spirit” of a store and the impulse to buy.

INVENTORY Investigate vendor spiffs. Your suppliers want their lines to succeed this season, so take advantage of the incentives they offer.

Video: How to Achieve a $100,000 Day in Your Jewelry Store
Headlines

Video: How to Achieve a $100,000 Day in Your Jewelry Store

Video: Increase Your Jewelry Sales Through Add-Ons
Jimmy Degroot

Video: Increase Your Jewelry Sales Through Add-Ons

Video: It’s Not My Problem When You Buy a $120 Ring and Your Wife Finds Out It’s ‘Fake’
Headlines

Video: It’s Not My Problem When You Buy a $120 Ring and Your Wife Finds Out It’s ‘Fake’

ONLINE Mobile devices are expected to drive about 70 percent of all Christmas-related retail traffic this year. Test your website and any apps to ensure the customer experience on tablets and phones is working as well as on desktops. It often doesn’t.

Nov 10-16

MARKETING Post your advertising schedule in the back room. Make sure your staff is fully aware of what promotions will run when.

SALES Find “guilt-easing” gift ideas to go with gift cards or certificates. For bigger certificate amounts, have a “real” gift — like Belgian chocolates or a bottle of wine — close at hand that you can bundle in free.

Nov 17-23

MARKETING With only four weeks to go until Christmas, step up your email campaigns to twice per week. Schedule campaigns on Thursdays or Fridays to stimulate purchases over the weekend, when conversion rates typically peak.

MERCHANDISING Impulse buys can come in many price ranges and store locations. Rethink the way you normally position these items.

STAFF Show your team how much you appreciate their efforts. Take them out for an activity or nice meal. Team-building will make it easier to get through the weeks ahead.

Nov 24-30

GOODWILL Play Santa: Sneak a little gift into every wrapped item.

OPERATIONS Starting today, hold a short staff meeting every morning, keeping everyone informed on progress. Single out a separate item each day and discuss the best way to present it. Keep the meetings short and make sure they end on an upbeat note.

TRAINING Coach your associates to steer more. Urge them to ask about the colors that spouses or partners wear, whether they prefer gold or silver, and if they favor big or small earrings. Advise them to keep the number of recommendations limited.

MANAGEMENT You should now be in full holiday-season mode. For last-minute tips and promotional ideas, go to your own INSTORE archives (or our past issues at instoremag.com/digimag).

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Why National Bring Your Teddy Bear to Work Day Matters to Your Store, and More Important Dates for October

Don’t miss your chance to capitalize on Emotional Intelligence Awareness Month.

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1 Research estimates that 85 percent of an individual’s financial success can be attributed to their “human engineering skills” — that is, their ability to communicate and lead. During EMOTIONAL INTELLIGENCE AWARENESS MONTH, improve your ability to make others feel valued and understood. It requires good listening skills, empathy, and a commitment to inspire positive feelings.

1 At the start of CO-OP AWARENESS MONTH, weigh up the pros and cons of using co-op dollars for holiday advertising and make a decision based on your circumstances.

9 A little-appreciated fact: Teddy Bears look great in diamonds. On NATIONAL BRING YOUR TEDDY BEAR TO WORK DAY, feature a few bling-wearing teddies in your cases.

29 Today, THE INTERNET TURNS 50. If your online presence is little more than an electronic brochure for your store, sit down and map out a more aggressive online strategy.

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