On Selling: Just One More Thing …

Published

11 years ago

April 17, 2013

INSTORE Staff

On Selling: Just One More Thing …

Steal a line from TV Detective Columbo to make an extra $100,000 a year

BY STEVEN KRETSER

On Selling: Just One More Thing …

Published in the May 2013 issue

We have all been actors from time to time in our role as jewelers. Many years ago, I started a little skit in my operation that brought in an extra $100,000 every year. It involves a bit of showmanship, but in addition to more revenue it creates a sense of wonderment, surprise, intrigue and long-lasting excitement with your customers that keeps them coming back.

You may remember the TV show Columbo. Peter Falk played a detective, and he always had this bit in his interrogation where just before he left the suspect, he stopped short and asked that one, last, moment-of-truth question that always planted an additional seed of guilt on the suspect. It was a great scene every time. You just hung on what was coming next. If you don’t remember the scene, look for it on YouTube.

Well, just before the customer left my store, regardless of whether she bought something, I always halted her! “Oh, oh, I forgot to tell you about this. We just got in an estate we have been after for months.” (Many scenarios here, of course.) “You should see these things! They’re beautiful and unique. You’ve got to see them. I’ll be right back. Stay right here.” Ham it up!

Nine out of 10 customers will stay and see what you bring out to show them. Notice what interests them. If they don’t buy immediately, add the item to their profile and wish list. Give them first right of refusal if another customer is interested in the same item. It’s a golden process.

Some of the keys here are that you have items pulled from your existing stock in all price ranges and categories. One large box will do it. You don’t want to keep them too long. Products can range from slower-selling items deeply discounted or new items just received. Mix it up. Prepare your boxes (that’s right, more than one) in advance of expected customers for that day based on their purchasing traits.

There you go. The Special Box. Have fun, and enjoy the extra sales!

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”