Connect with us

Editor's Note

Jewelers’ Sales Have Been Strong, But Now Come the Holidays

Never fear: Innovative new strategies can help you make sales at a distance.

Published

on

AS I WRITE this in early September, reports continue to roll in that retail jewelers’ sales have grown increasingly stronger since reopening post-quarantine. In our most recent Brain Squad survey, 51 percent of respondents said sales were up or “way up” in August.

If that seems surprising in a time when the pandemic continues to drag on and 13 million-plus people remain unemployed, perhaps it shouldn’t. After all, as hard as COVID-19 has been, it’s also changed the way many want to spend their money. Retailers report a boom in engagement ring sales as couples are deciding they don’t want to waste any time committing their lives to one another. Meanwhile, people with means aren’t spending money on travel, so they’re turning to their local jewelers for retail therapy.

Nevertheless, some in the jewelry industry are pessimistic about the holiday season. Maybe they think this buying boom will peter out; maybe it’s the pandemic, the upcoming election, or rising gold prices. Regardless, the smart course of action is to do whatever you can to ensure a strong holiday season for your store, even if it means doing things differently.

We’re here to help: Our lead story presents 12 virtual strategies and promotion ideas to drive holiday business (plus another six stellar ideas in the online version of the story at instoremag.com). I hope you’ll find one or more that can boost your holiday sales and help you kick 2021 off with a bang!

Trace Shelton

Editor-in-Chief, INSTORE
[email protected]

Advertisement

Five Smart Tips You’ll Find in This Issue

  1. Call a staff meeting to strategize how to earn more gross margin, clear out old inventory or make more add-on sales this season. (Manager’s To-Do, p. 34)
  2. Engage clients through text or email by asking, “I have some gift ideas for you! Want to hop on a video call?” (The Big Story, p. 44)
  3. Use a platform called Loom to video-record your virtual custom design meetings for clients. (The Big Story, p. 44)
  4. Host a virtual trunk show, perhaps featuring the designer, giveaways, free refreshments and contests. (The Big Story, p. 44)
  5. Ask clients to rate their interest in an item from zero to 10, then ask what they need to get to a 10. (The Close, p. 61)

Trace Shelton is the editor-in-chief of INSTORE magazine. He can be reached at [email protected].

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

A Liquidation Sale during a Pandemic? Wilkerson Showed Them the Way

For 25 years, Stafford Jewelers of Cincinnati, Ohio, was THE place to go for special gifts, engagement diamonds, high-end Swiss watch brands — in other words, the crème de la crème of fine jewelry. But this summer, the Stafford family was ready to retire. So, they chose Wilkerson to help them close up shop. “One of the biggest concerns was having the sale in the middle of COVID,” says Director of Stores Michelle Randle. Wilkerson gave the Stafford team plenty of ideas as well as safety guidelines, which they closely followed. “All of the employees felt safe, the customers coming in the door felt safe and we did a lot of business,” says Randle. How much business? “The inventory flew,” she says. Translation: They sold millions and millions of dollars-worth of merchandise. Randle calls it, “an incredible experience.” Would she recommend Wilkerson to other retailers who are thinking of thinning their inventories or retiring? “Everyone got more than what they expected out of the sale. You have to hire Wilkerson. They’re amazing.”

Promoted Headlines

Most Popular