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Paco’s Tips: Understand the New Rich

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Consumers are getting older, wiser, and more cynical. At the same time, if you give them a good reason to trade up, they will. After all, low price does not equal value.

Consumers are getting older, wiser, and more cynical. At the same time, if you give them a good reason to trade up, they will. “Most of us have learned that the lowest price isn’t always the best value,” says Paco Underhill. The increasing consolidation of wealth among the top few percentiles is making this trend even stronger.

To be a player in this new market, you need to have on hand a few ‘aspirational’ pieces in each segment stock, says David Brown, president of the Edge Retail Academy. Even for those regular customers who can’t afford a $100,000 diamond bracelet, it’s a thrill to try it on.

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.

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Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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Paco’s Tips: Understand the New Rich

mm

Published

on

Consumers are getting older, wiser, and more cynical. At the same time, if you give them a good reason to trade up, they will. After all, low price does not equal value.

Consumers are getting older, wiser, and more cynical. At the same time, if you give them a good reason to trade up, they will. “Most of us have learned that the lowest price isn’t always the best value,” says Paco Underhill. The increasing consolidation of wealth among the top few percentiles is making this trend even stronger.

To be a player in this new market, you need to have on hand a few ‘aspirational’ pieces in each segment stock, says David Brown, president of the Edge Retail Academy. Even for those regular customers who can’t afford a $100,000 diamond bracelet, it’s a thrill to try it on.

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

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Most Popular