Brainstorms

The Weird Mathematical Rule that Makes Decision-Making Easy

Look at the first 37% of options and then make your choice.

Published

5 years ago

June 23, 2020

INSTORE Staff Instore July 2020 Issue

Looking for a new sales associate? Go full-on nerd and try the “37% Rule,” which basically says that when you need to screen a range of options in a limited amount of time — be they candidates for a job or potential romantic partners — it’s a weird mathematical truth that the best time to make a decision is when you’ve looked at 37 percent of those options. (If none is right, pick the next one that is better than the first 37 percent.) According to an article in Lecture Notes In Economics And Mathematical Systems, this approach can be applied to just about any such sequential scenario — from choosing a mate, to a new store location.

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.