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Zen Jeweler: Quantity Ain’t All It’s Cracked Up To Be

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Zen Jeweler


Fine jewelry requires a long-term attitude from its purchasers and wearers. This is bad news, and here’s why. Much of what we do today is for the short-term, the quick fix, the disposable society we’ve inherited from watching too many commercials. We’ve developed an addiction for the new, without an appreciation for the exceptional. We’ve begun to buy quantity. And we’ve begun to think of what we do in terms of that quantity. Quantity, frankly, ain’t all it’s cracked up to be. For instance, I once noted that in a store I was working in, 88 percent of the gross profit was coming from 15 percent of the store’s units. That meant that it took the other 85 percent of the stores sales to make up the last 12 percent of the gross profit. Quantity was defeating profitability. The 15 percent of units making up the vast majority of the store’s gross was, in fact, 135 units. Less than one sale a day. Imagine what just two sales a day like that would have done. Instead of one sale of $6,000, imagine two. Let’s continue to work harder, not smarter.

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Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

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Zen Jeweler: Quantity Ain’t All It’s Cracked Up To Be

mm

Published

on

Zen Jeweler


Fine jewelry requires a long-term attitude from its purchasers and wearers. This is bad news, and here’s why. Much of what we do today is for the short-term, the quick fix, the disposable society we’ve inherited from watching too many commercials. We’ve developed an addiction for the new, without an appreciation for the exceptional. We’ve begun to buy quantity. And we’ve begun to think of what we do in terms of that quantity. Quantity, frankly, ain’t all it’s cracked up to be. For instance, I once noted that in a store I was working in, 88 percent of the gross profit was coming from 15 percent of the store’s units. That meant that it took the other 85 percent of the stores sales to make up the last 12 percent of the gross profit. Quantity was defeating profitability. The 15 percent of units making up the vast majority of the store’s gross was, in fact, 135 units. Less than one sale a day. Imagine what just two sales a day like that would have done. Instead of one sale of $6,000, imagine two. Let’s continue to work harder, not smarter.

Advertisement

SPONSORED VIDEO

Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

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Most Popular