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Shopping Tips for Show Season, P&L Advice and More May To-Do Items for Managers

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Shopping Tips for Show Season, P&L Advice and More May To-Do Items for Managers

Apr. 30-May 6

WEBSITE Is the information in your “About Us” section purely factual, or are you using stories to help illustrate who you are? As Mark Twain said, “Don’t say the old lady screamed. Bring her on and let her scream.” The best marketing writing is written to be said, not to be read. So give it a try, and then use the simple test of reading it out loud.

buying “Decide what markets we will be attending in Las Vegas and set a timeline to pull reports and review what product lines we’re going forward with, what we need to stock balance, and what products have not performed well.”

DISPLAYS Position your best Mother’s Day (May 13) specials in a showcase just inside the front door. Simplify the selection process by highlighting a few classic pieces or current trends.

May 7-13

MERCHANDISING Reel in the tax rebates: create a display of jewelry items that fall into the $100 to $300 range and promote them. That’s close to the sweet spot for fine fashion jewelry.

SALES Weekly sales meeting topic: What else? The run-in to Mother’s Day. Tell ‘em, “Leave nothing in the locker room! And nothing in the vault!” A spiff or sales game wouldn’t hurt ether.

May 14-20

BUYING Show season is on the way. Prepare a portfolio to present to prospective vendors with a letter of introduction that contains information about your store’s history, market demographics, other brands you carry, and your business’s credit ratings. Also, include marketing and promotional campaigns you’ve carried out and copies of magazine articles that mention your store. (Another reason to join the Brain Squad — hint, hint). 

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EVENTS Finalize plans for summer trunk shows and designer events. Confirm dates with vendors. Planning your catering now will allow you to negotiate volume discounts when multiple events are booked.

May 21-27

MARKETING We can see the intro now: “Want to know what will be the next big trend in jewelry? Janie Johnson of JJ’s Jewelry is just back from the world’s biggest jewelry show …” Before you head off to Vegas this year, get in touch with your local newspaper and promise to come back with something interesting.

FINANCES Business coach Laurie Owen recommends giving your P&L a spring makeover. Group expenses into categories, like salaries and benefits, marketing expenses, admin, etc. Then, next to the dollar amount, list the expense amount as a percentage of sales. “It helps you see when an expense is increasing as a percentage, and not just going up because your sales are increasing.That way, you don’t miss those creepers.”

May 28-June 3

INVENTORY Ever tried a “Christmas in July” promotion? Maybe this could be the year. Or if you’ve got a lot of lower-end inventory that won’t move, what about a sidewalk sale?

MARKETING Send your first Father’s Day (June 17) postcard this week.

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SPONSORED VIDEO

Moving Up — Not Out — with Wilkerson

Trish Parks has always wanted to be in the jewelry business and that passion has fueled her success. The original Corinth Jewelers opened in the Mississippi town of the same name in 2007. This year, Parks moved her business from its original strip mall location to a 10,000-square foot standalone store. To make room for fresh, new merchandise, she asked Wilkerson to organize a moving sale. “What I remember most about the sale is the outpouring excitement and appreciation from our customers,” says Parks. Would she recommend Wilkerson to other jewelers? “I would recommend Wilkerson because they came in, did what they were supposed to and made us all comfortable. And we met our goals.”

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