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Brainstorms

Why Bank Closings Could Be Good News for Your Store

Think of it as a real-estate opportunity.

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AMERICAN BANKS have closed 9,000 branches in the last decade as digital banking and other trends have resulted in fewer people visiting their physical outlets. While that’s bad news in some communities where consumers now have to travel great distances to find a branch, it’s good news for jewelers, especially those looking for a new location. Few other abandoned commercial buildings are such a good fit for jewelers, given bank branches’ often central locations on Main Street, security-driven designs, features such as walk-in vaults and often cool, retro designs. Pondered a move lately? Keep an eye on your local bank.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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Brainstorms

Here’s an Event Idea That Could Go Viral on Social Media

Let your clients take selfies with your most spectacular jewelry.

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SEVEN YEARS AGO, the Diamond Boutique (Del Mar, CA) attracted thousands of people over a weekend to try on a $1 million dollar diamond necklace (no pressure to buy). The stunt worked well back in 2012, garnering dollops of media attention. In the selfie era of 2019, a similar event could work even better. Break out your most spectacular diamond piece and invite groups of customers to come in with their selfie sticks and capture themselves in the shine of your best diamond’s glory and post to their social media pages. Who knows, maybe a buyer will be among the hordes.

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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.

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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.

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Brainstorms

Get Rid of That Hairy Arm!

A proven strategy to combat those people who always insist on last-minute changes.

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Ever had a client or even a manager interrupting and delaying jobs by insisting on last-minute changes? Then you may want to consider this strategy employed by advertising artists known as The Hairy Arm Tactic. According to the mythology, a graphic artist named Joe had a client who was forever insisting on “stupid changes.” Then something odd started happening: each time the client was presented with a newly photographed layout, he’d encounter the image of Joe’s arm at one edge of the frame, partly obscuring the ad. The client would look at it and yell: ‘What the hell is that hairy arm doing in there?’“ Joe would apologize for the slip-up. And then, as the client was stalking self-righteously away, muttering, “You gotta watch these guys like a hawk,” Joe would say: “When I remove the arm, can we go into production?” And the client, content to have made his mark, would call over his shoulder, “Yes, but get that arm out of there first!”

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