Aug. 3-9
STRATEGY What’s the biggest problem facing your store today? Now what is the smallest thing you can do to respond to that? What are you waiting for?
TRAINING Consumer spending has become bifurcated with high-income consumers continuing to spend freely while most of the rest of the population is feeling the pinch. The situation requires a slightly more nuanced approach to presenting expensive items. Staff shouldn’t assume no one can afford expensive items, but at the same time, people need to be sensitive to how they discuss pricing. Call a training session and discuss.
Aug. 10-16
INSURANCE One of the first questions an insurer will ask in the wake of a loss is, “Do you have an up-to-date inventory list?” If you’re not certain, get busy!
DISPLAY Add some color to your display cases. If all you see is a sea of white fixtures, your visual merchandising needs help. Add a bit of colored fabric or other material to your display cases to create some visual punch and let your showcases pop with excitement.
MARKETING Reach out to small groups of women from different social groups — such as a gang of golfers or moms — to come to the store for a private shopping night.
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Aug. 17-23
INVENTORY As much as 25 percent of most jewelers’ inventory is unproductive. If this stock has withstood sales and spiff programs, you may need to consider an inventory buyer — they are usually the easiest way to turn illiquid inventory into cash (although they will also likely yield the lowest return). Be sure to do your homework and identify a firm that offers the best solution for your business.
INVENTORY Finalize your fall open-to-buy and scour the fashion and trade mags for product ideas to be ready for the last trade shows of the year.
Aug. 24-30
STAFFING Don’t hire and train in October to get ready for Christmas, says sales trainer Shane Decker. Hire support and sales staff now. If it’s part-timers, start with a few hours a week to ensure they are up to speed when the holidays arrive.
BUYING There’s still time to sign up for the INSTORE Show, the show for independent jewelers – to be held Sept. 28-29 in Rosemont, IL. Pick up lots of great ideas for the last quarter as well as some beautiful new product for the holidays.
MARKETING All types of media outlets, from local newspapers to blogs, prepare gift guides to help their readers with holiday ideas. Find out the deadline for these guides and start pitching some unique suggestions. Your custom design service could be one.
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