Sales Truths: People Don’t Buy Jewelry. They Buy What Jewelry Will Do For Them

Published

16 years ago

July 2, 2008

Dave Richardson

PEOPLE DON’T BUY JEWELRY. THEY BUY WHAT JEWELRY WILL DO FOR THEM.

WHY IT’S TRUE: A man buying a diamond engagement ring isn’t buying a ring. Rather, the moment when he is on his knee proposing marriage. The customer buying an expensive gold watch is not really buying a timepiece. Rather, he’s buying higher status and a better image.

PLAN OF ACTION: Stop selling diamonds and jewelry. Instead, start thinking about helping your customer reach a particular objective in life. Ask questions that clue you into their “wants.” The customer may tell you he needs an anniversary gift but, what he really wants is to surprise her with something very special. If the customer isn’t forthcoming, don’t be afraid to be direct and say “So what’s your goal here with this purchase?” Even the customer who is price shopping has a gut-level want. Your job is to figure out what it is.

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.”