Managers: Here’s How to Make Sure Your Team Sells at the Price on the Tag

ONE OF THE BIGGEST problems we have in our industry is salespeople not selling at the price on the tag. Some salespeople use this as a cheap copout to close, others don’t think they can close without doing it.

Sales floor managers, you are responsible for the net and gross profit for your store and your sales team’s ability to sell at the price on the tag. Your integrity, the store’s integrity, the sales team’s integrity and the item’s integrity is in the price on the tag.
Stores that sell the item at the price on the tag have a higher closing rate than those that negotiate. Train your team on the value of the item being sold.

With diamonds, you can teach about rarity, mining, age, the cutter’s ability, and so on. You can do the same with the rarity of colored stones and gold, the difficulty of the design, the item’s quality, etc. But a lack of knowledge is one of the biggest sales killers there is.

Without this knowledge, you can’t handle objections or prove the price on the tag is real.

After your sales meetings, roleplay the proper answers for “That’s a lot of money,” “It’s cheaper down the street,” “What’s your cash price” or “My husband would be mad if I spent that much.” If you can’t handle these, you can’t close the sale.

Never make a sale about money — make it about the client and the reason they came in. To help reduce price objections, managers can gently step in and give the client reassurance. After introducing yourself, say something like “We do put the real price on all our jewelry and diamonds” or “We don’t mark it up so we can mark it down” or “We can help you by giving you an appraisal or lab report.”

Ask the client, “Before we finish this up, do you have any questions that we haven’t answered yet?”

If they say “no,” ask, “How would you like to take care of this?” Then tell the salesperson you’ll wrap it while they take care of payment.

I once trained at a store where a salesperson kept negotiating price even after having sales meetings where she was told not to. The owner called her into his office and asked, “Why do you keep giving away my money?” She had no answer. He said he was going to take $100 out of her next 10 commission checks until he got his money back. She never negotiated again!

Managers, teach your team to prove the price on the tag is real and how to handle price objections. Inventory turn will go up and sales will take less time.