David Geller: A Terrific Holiday Season for Just $699

Published

13 years ago

November 15, 2011

David S. Geller

Would you spend $699.99 to have a great Christmas season?

You’ve spent more than that to replenish your ring boxes for the season and it really didn’t increase sales, did it? Nope!

One jeweler a few years ago told me spending $699.99 increased his sales 50 percent. How does this work? Visual incentive. If you go to Best Buy and purchase a 47-inch LED television, you’ll spend $699.99. Bring it to the store and put it up in the back room or kitchen area. Big sign or banner across the TV screen: “Highest total sales during the month of December gets this TV!”

Your staff will see — and want — that TV every day.

Now, would you be prepared to spend a little more to make a whole lot more?

You probably don’t have cable in the store but if you add a DVD player or Xbox and have a DVD playing, that will add to the excitement and enticement. For less than $1,589.95 (remember this is a multiplying win-win system) you could have this all on display and be offering more incentives. The list of prizes would look something like this:

Highest total sales for December — 47-inch LED TV ($699.99)
Highest single sale — 26-inch LED TV (your cost $299.99)
Highest total watch sales — Xbox 360 ($299.99)
Highest total repair/custom design sale — Apple iPod ($199.99)
Most hand-written thank-you notes — DVD/Blue Ray Player ($89.99)

I’d also make a BHAG for this holiday season, which some are saying will be the best in the past 7 years.

What’s a BHAG? A Big Hairy Audacious Goal!

Make a larger-than-expected goal for December and if the store makes the goal, then EVERYONE gets a … (fill in the blank). It may not have worked for you in the past, but it can this year because of the collaborative efforts of every employee, from the sales staff to the jewelers and office staff.

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”