Headlines

After Swapping Accusations, Kay Jewelers Pushing Discounts to Win Customers Back

“Incremental promotions” offered on top of planned discounts.

Published

5 years ago

June 20, 2016

Kay Jewelers is rolling out discounts in an attempt to keep and regain customers in the wake of diamond-swapping accusations made against the national retailer, CBS News reports. The article says that Signet Jewelers, Kay’s parent company, has lost more than 20 percent of its market valuation during the past month since Buzzfeed reported on a flurry of customer complaints from customers alleging that Kay switched out their diamonds for lower-quality gems.

Signet CEO Mark Light is countering the bad publicity that spiraled from that report by offering promotions to get consumers back, including a 20 percent discount on all bridal jewelry as well as $100 in its rewards program for every $300 spent online or in stores.

“There are some promotions that we are doing to stimulate and excite the customers more,” reads a company statement sent to CBS News. “There are existing promotions in place and we have planned them, but there are some incremental promotions to make them even stronger.”

Read more at CBS News

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