Month: June 2020

COVID-19 has placed the American jewelry industry in an untenable financial position.  The looting of jewelry stores has added insult to injury and our heart goes out to those who have been affected.  And with the late reopening of stores in some states, the crisis can linger for much longer than anyone would like.

People calling us have been devastated economically and are searching for answers and advice on next steps.  We assure them there is no shame in admitting that the Coronavirus pandemic has strapped them for cash.  We get it.  It has hurt everyone.

Most of our sales are 60-day events, but this isn’t always necessary to get out of an immediate cash crunch.  We can do a 30 or 40-day sale event for what we might call “emergency” cash raising.  An event like this can easily fit into the summer or fall time of year.

If cash is a definite need for you this year, we can help.  Contact us right away for a thorough and complementary review of your needs.  There is no time to waste if you are in need.  Please let us know right away.

Sincerely,

Jeff Gordon, CEO

You’re either opening up your store or have opened slowly over the past few weeks. A question currently on your mind is: “How do I get customers back into my store?” This is a valid question, and I can tell you the most sure-fire way to accomplish this is to run a major sale event.

But, not all sales are created equal, nor are their results. Short sales of one or two days, if properly promoted can produce $50,000 to $100,000 in revenue, which is good, but it’s a band-aid approach to a problem where major surgery may be required. Our 60 day sales can generate from $1,000,000 to $5,000,000 in sales for our clients.

Here are some examples of what actually took place during some of our sales:

RETAILER A — nearly 1,000 new customers were added to our client’s mailing list during the sale.

RETAILER B — 1,985 purchases were made during the 47 day sale period.

RETAILER C — 5.6 times greater sales than during the same period in the year before was accomplished.

RETAILER D — Sales were projected to be $4,300,000, and we ended at $5,300,000.

RETAILER E — Over 40% of the customers who purchased had never been in the store prior to the event.

RETAILER F — 86% of the sales made were from the retailer’s owned inventory.

*All of the above examples can be verified upon request

Comparing short sales that simply sell sign packages to well-orchestrated, professionally run events is like trying to compare apples to oranges. If you need a true remedy for what is ailing your business, we’d like to help. Please contact us right away.

Sincerely,

Jeff Gordon, CEO

The death of George Floyd in Minneapolis – an injustice all its own – has sparked outrage and vandalism in that city and across our country. Designer brands and jewelers have been among the main targets of looting, with destruction of storefronts and jewelry store interiors commonplace.

The timing of this couldn’t have been worse.  Just when we were getting much of the population back to work and small businesses like ours’ back on track, social unrest – if not a resurgence of the health concerns of COVID-19 – may derail the economy once again.  It feels like insult added to injury following the Coronavirus at a time when things were just beginning to open up.

Our hearts go out to clients who have been hit, and to each of you who we call friends and colleagues in our industry.  Peaceful protests are what we have come to expect in our country, but seeing the violence and destruction of our beautiful stores and our industry built on love and emotion has been painful. 

While there may be little that we can do at this crucial time, our entire Gordon Company family sends its deepest sympathies to all who have been affected by the recent violence.  Our greatest hope is for peace and harmony amongst all American citizens.  If there was ever a time to draw together, it is now.

Sincerely,

Jeff Gordon, CEO