Brainstorms

Sow Seeds of Disharmony In Your Customer’s Jewelry Box

A shiny, bright new thing can make everything else look dull and in need of replacement.

Published

6 years ago

June 26, 2019

INSTORE Staff Instore June 2019 Issue

Sow Seeds of Disharmony In Your Customer’s Jewelry Box

The diderot effect refers to the way a newly purchased product fails to deliver on the happiness it promised, and instead causes our other possessions to suddenly look timeworn and in need of replacement. It takes its inspiration from an essay by the enlightenment philosopher Denis Diderot, in which he laments how a new dressing gown has made his other clothes look like rags and he suddenly feels “discordant.” How to put this psychological weakness into play? In much the same way Ikea or any home goods retailer does: through suggested add-ons. (“Now that you’re ordering that new dining table, shouldn’t you consider those glasses and plates, too?) Is it manipulative? We’d argue not. It’s not your fault that stylish new fashion ring is making her 20-year old engagement ring look a little dated and in need of an upgrade.

Closing With Confidence: How Bailey's Fine Jewelry Achieved Outstanding Results With Wilkerson

When Trey Bailey, President and CEO of Bailey's Fine Jewelry, decided to close the Crabtree location in Raleigh, North Carolina after 15 years, he knew the decision needed to be handled with intention and professionalism. The goal was clear: exit the location while maintaining financial strength and honoring the store's legacy. Having worked with Wilkerson successfully in the past, Bailey understood the value of their comprehensive approach. "They understood both the emotional and financial sides of the store closing sale," Trey explains. "Their reputation for professionalism, results and care made it a very easy decision." The results exceeded expectations. Wilkerson helped Bailey's sell through significant inventory while maintaining the dignity of the closing process. "They don't just run a sale, they help close a chapter in the best way possible," Bailey says, strongly recommending Wilkerson to any jeweler facing a similar transition.