Buzz Session

How Does Your Pricing Policy Compare to Other Jewelers?

To show prices, or not to show? That is the question.

Published

6 years ago

August 16, 2018

INSTORE Staff Instore September 2018 Issue

We have always clearly and visibly marked prices and we do not discount. I have spent more time recently reminding customers of the added value of dealing face to face with an expert. — Russell Criswell, Vulcan’s Forge, Kansas City, MO
More prices are visible but I hate the way tags look because it is so distracting. We do have our bridal segmented so that we can show price ranges very easily. Experimenting with RFID now. — Susan Eisen, Susan Eisen Fine Jewelry & Watches, El Paso, TX
We use customer visible price tags for 90 percent of our jewelry. Customers seem to like it. It does make it harder to upsell. The salesperson has to make sure to show the higher price items. — Donald Killelea, Killelea Jewelers, Midlothian, IL
Transparency is key with this new generation of shoppers. We try to be open about every aspect of the business to help put our customers at ease. While I’m not about to show someone a wholesale invoice I feel comfortable citing resources selling comparable items and letting our customers see what my competitors are selling for versus me. When the competition is offering something for less we help our customers understand the value of shopping with us. — Brian Goff, Goff Jewelers, Staten Island, NY
Yes, I try to match the price people find online or on their phones IF all things are equal (which is not always the case)! I think this has helped us in that people see we want to work with them and usually will see that our price is at or below the price they find and I believe they respect our store for it, plus I usually make a sale! Not to mention it takes that aura about independant’s are always more expensive away! — Paul Krueger, Krueger Jeweler, Fort Atkinson, WI
We are beginning to re-tag our inventory with more info on tags. Type and carat of gems, specifying laboratory-grown pieces and showing prices so customers can actually see more of them. Doing this in a way to give more “open” information but also being mindful of keeping the displays tasteful in their presentation. — Mark Kasuba, M. Edward Jewelers, Pittsfield, MA
We have been price-conscious as far as the Internet goes for over 12 years and always compare to the Internet, especially when it comes to diamonds. Many of the diamond vendors need to do this as well because they are out of touch with what is available directly to consumers. — Joseph Delefano, Regency Jewelers, Rotterdam, NY
We make sure all prices are printed, whether it be on a tag or in a book, because once a customer sees a printed price, they don’t question it. — Gabi Mecherkany, Bernard Jewelers, Tewksbury, MA
We tag everything in our store including the sales tax. Our clients love the fact that the price they see is the price at the register no surprises! — Rhonda Neary, Diamond Design, St John’s, NL
We have never been afraid of our prices. (Although we do write small.) — Marta Jones-Couch, Elements Ltd., Des Moines, IA
We have always had clear price tags showing on all items. I got tired of getting up from the bench just to “check” on prices for people decades ago! — Loann Stokes, Stokes Jewelry, Stillwater, MN
I have always been transparent in pricing, easier to remember what you tell every customer. — Lisa McConnell, Lisa McConnell Design Studio, Fort Worth, TX
Always use tags, especially with a short description on the back for part time associates who may not know details as easily. Tags are always hidden while displayed but also play a vital role in inventory. — Ryan “Jr” Karp, Cornerstone Jewelry, Palos Park, IL
We have always been of the mindset to ask for a budget up front so we can respect it. Sure, we will show items in any price range at the client’s request, but typically we work to stay close to budget because as a business, we live our lives by numbers and so do our clients. It’s disrespectful if a client comes in looking for a yellow gem with a $5K budget, and you pull out the natural fancy yellow diamond for $18K and offer financing. — Jennifer Farnes, Revolution Jewelry Works, Colorado Spring, CO
We build in the features and benefits into our sales presentation. We definitely discuss the quality of our jewelry versus the price-driven, poor quality jewelry offered at most large chain/mall stores. We do use a Brother label machine with transparent tape to show prices on our diamond studs and some lower-priced fashion diamond jewelry to show we are competitive. — Pamela Rossi, PJ Rossi Jewelers, Lauderdale by the Sea, FL
Unfortunately, it has become necessary to price things with a Was and Now tag on merchandise to entice those who shop only the sales. — Rita Wade, Wade Designs Jewelry, Rocky Mount, NC
I have used visible pricing for several years. I feel that it gives more confidence to buyers. They no longer feel uncomfortable asking about an item thinking it might be too expensive for their budget. — Murphy McMahon, Murphy McMahon & Co., Kalispell, MT
We have switched to MSRP pricing crossed out and “Call for best price” in order to better attempt to connect on a more personal level with people shopping on our website. — Jeffrey Debs, Debs Jewelers & Gemologists, Philadelphia, PA

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