Connect with us

Columns

Paco’s Tips: Know Your People

mm

Published

on

Consider your market’s potential demographics when deciding what sort of personality your store ought to have. Paco Underhill says it’s important to consider those potential customers and adapt your physical environment to fit their needs.

Consider your market’s potential demographics when deciding what sort of personality your store ought to have. Paco Underhill says it’s important to consider those potential customers and adapt your physical environment to fit their needs.

Here’s one example: If you own a jewelry store in southern Florida, Underhill says, 10 to 15 percent of people walking in the door are under age 12, because Latin families tend to shop in social clusters. The kids may not be your primary customer base, but the people walking in with them are, and so it would be in your best interest to entertain them. “So if I’m on 57th Street in New York, there are not a lot of kids who walk in,” Underhill says. “But if I’m at a jewelry store in Fort Lauderdale or Boca or Miami, having a children’s area might make a lot of sense.”

Others who feel disenfranchised by the process of shopping in a jewelry store are the under-30 crowd, Underhill says. “There are a generation of Americans, under 30, who are intimidated by the process. They think ‘I am getting ripped off so I’m going to buy my diamond online and take it to a store to have it set.”

Even so, all is not lost. Use that opportunity to build a relationship. “If I’m the brick-and-mortar store, I’ll set that ring for you because it gets me the chance to begin a relationship, to ask for your e-mail and ask, ‘Do you want me to remind you about Valentine’s Day, Mother’s Day and your wife’s birthday? Because I can probably help you.”

Get more actionable advice from the world’s leading retail environment expert at The SMART Show. Paco Underhill’s must-see keynote session takes place on Saturday, April 18, at 8:30 a.m., and is sponsored by Synchrony Financial.

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Wilkerson Helped This Jeweler to Navigate His Retirement Sale Despite a Pandemic

Hosting a going-out-of-business sale when the coronavirus pandemic hit wasn’t a part of Bob Smith’s game plan for his retirement. Smith, the owner of E.M. Smith Jewelers in Chillicothe, Ohio, says the governor closed the state mid-way through. But Smith chose Wilkerson, and Wilkerson handled it like a champ, says Smith. And when it was time for the state to reopen, the sale continued like nothing had ever happened. “I’d recommend Wilkerson,” he says. “They do business the way we do business.”

Promoted Headlines

Most Popular