INTRODUCTION: Many sales trainers suggest holding sales meetings on Tuesdays or Fridays, but your store’s reality will obviously determine the best time for your meetings. Your weekly meeting can last 30 minutes, 45 minutes or 60 minutes.
Week 12 (Mar 23-29): 10 Negotiation Traps and How to Escape
OPENING SEQUENCE (5-7 minutes)
Minutes 1-2: Recognition & Praise
- Start with specific wins from yesterday/this week
- Point out behaviors you want repeated
- Examples: “Sarah’s perfect use of the T.O. technique” or “Mike’s follow-up that brought a $5,000 sale”
- Make it sincere and specific
Minutes 3-4: Numbers Check & Store Updates
- Yesterday’s sales highlights (what sold, who sold it)
- Today’s appointments and special situations
- Rush repairs ready for pickup
- Items no longer in cases
- Quick progress check on weekly/monthly goals
- This week’s spiff — everybody picks their favorite piece!
Minutes 5-7: Team Connection
- Inspirational quote (rotate who selects)
- Check current gold prices (market awareness)
- Any personal celebrations to acknowledge
- Set positive energy for the day
CORE TRAINING SECTION (20-45 minutes)
FEATURED SUBJECT
10 Negotiation Traps and How to Escape
Training resources for this lesson — Shane Decker’s columns in January 2011, February 2011, and November 2009.
The Big Idea
Last week we worked on how to handle objections — the moments when a client needs reassurance or is testing your expertise. This week is different. Negotiation is what happens when the client wants the product but is trying to get you to lower the price. Customers use specific, repeatable tactics to do this, and if you don’t recognize them, you’ll give away money you didn’t have to. Shane identifies three named tactics — the Nibbler, the Bogey, and the Krunch — plus several common traps that erode your profit. Here are 10 to recognize and escape.
The 10 Traps
1. The Nibbler. This client doesn’t ask for a discount outright. Instead, she nibbles away at your profit one small favor at a time. “Since this ring already fits me, can you size two others for free?” Then: “Can I get an extra appraisal?” Then: “You’ll throw in the tax, right?” Each request feels small and reasonable, but Shane walks through a real example where a $1,595 ring sale lost $270 in free sizings, appraisals, and tax — that’s 20 percent of the retail price, gone. The escape: let her have one nibble only (like a single sizing). And never negotiate tax — your response is, “We don’t charge tax. We just collect it for the government.”
2. The Bogey. Usually used by men, and it’s always a bluff. He says, “I love your $6,000 ring, but I only have $3,000.” A lot of salespeople immediately start discounting. Don’t. Instead, use option negotiation: “I can take out the one-carat and put in a half-carat of the same color, clarity, and shape for $3,000.” If he says, “No, I want the one-carat,” you reply, “That’s $6,000.” You’ve just proven the value and held your integrity. The best defense against the Bogey is romancing the sale thoroughly before price ever comes up — beauty, value-added statements, features-advantages-benefits, and the reason they came in. When you do that well, the Bogey rarely appears.
3. The Krunch. Usually used by men. You’ve done your entire presentation, stated the price, and he says, “You’ve gotta do better than that.” This is a test — he wants to see if you’ll cave and how fast. If you drop the price immediately, you’ve lost integrity and the client may actually walk because it happened too easily. The escape: find out what “better” means. Better on price? Services? The product itself? Then sell company benefits — your on-site jeweler, your warranty, your diamond selection standards. If needed, bring in the owner for a vote of confidence. Negotiating on price is an absolute last resort.
4. Caving on the first sign of distress. The moment a client winces at the price, too many salespeople offer a discount before they’re even asked for one. Shane says: always aim high. Start every sale assuming you won’t give any concession. If you don’t act like you’re going to give one, the client won’t expect it.
5. Giving too much too fast. If you do negotiate, your first concession must be small. On a $5,000 item, coming down to $4,950 sets reasonable expectations. Jump to $4,500 and the client thinks, “How much more can I get?” Hard-won concessions mean more and protect your margins.
6. Negotiating without getting a commitment. Before you give any concession, get a commitment: “Are you saying if I do better than that, you’re going to take it today?” Without this, the negotiation can go on indefinitely with no close in sight.
7. Using percentages instead of dollars. When you negotiate, always state the discount in dollars or state the final price. Never say “10 percent off” — percentages eat into your profits faster than you realize and train the client to expect them every visit.
8. Having calculators on the counter. This is a subtle one. When clients see calculators on the counter, they subconsciously assume the price is negotiable. Take them off. It removes the visual cue that says “let’s do math on the price.”
9. Skipping the romance. Most negotiation attempts happen because the salesperson didn’t build enough perceived value. If you’ve fully romanced the item, used value-added statements, and made the occasion feel like a bigger deal than the client expected, the price becomes secondary. The best negotiation defense happens before the price is ever mentioned.
10. Forgetting the Take-Away. When all else fails, this technique works. Let’s say your store offers an extra three-year warranty beyond the manufacturer’s two-year coverage. The client says, “You’ve gotta do better.” You respond, “I can come down a little on the price, but I’ll need to take away the extra warranty.” The client almost always says, “No, I want the full warranty” — and when you restate the original price, the value has been justified in his mind.
Practice Exercise
Scenario 1: A woman buying a $1,595 ring asks for a free sizing, then an extra appraisal, then wants the tax thrown in. Practice identifying the Nibbler and stopping her after one concession. Role-play the tax response.
Scenario 2: A man says he loves the $6,000 ring but only has $3,000. Practice the option negotiation — offer the half-carat swap, then hold firm when he pushes back. Role-play until “That’s $6,000” comes out with confidence, not apology.
CLOSING SEQUENCE (5-8 minutes)
Option A – Team Member Presentation (twice monthly)
- 5-minute presentation by assigned staff
- Topics can include:
- Book Report: 5-10 key takeaways from a business book
- Customer Experience Report: What other retailers do well
- Mystery Shop Report: Insights from visiting competitors
- Learning Summary: Online course or training completed
Option B – Action Planning (alternate weeks)
- Review “wow” opportunities for the day
- Assign follow-up calls
- Preview upcoming store events
- Set individual daily goals
- Quick round: “What’s one thing you’ll implement today?”
FINAL MINUTE
- Restate the main learning point: “Your price has integrity. Learn to recognize the Nibbler, the Bogey, and the Krunch, and you’ll stop giving away money you don’t have to.”
- Team energy boost (high-five, cheer, or affirmation)
- “Let’s make today count!”
- Open doors ready to excel
