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Paco’s Tips: Understand the New Rich

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9 years ago

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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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This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

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Paco’s Tips: Understand the New Rich

mm

Published

9 years ago

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.

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Related Topics:

click to Comment(Comment)
Advertisement

SPONSORED VIDEO

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

Promoted Headlines

Most Popular