I’m a big proponent of special events in your store. We find that those jewelers who do them – be they trunk shows, a lady’s night out, community charities, colored gem roundtables, or any such events – generate goodwill, excitement, and important sales in a month that may normally be just “so-so.”
But there is a balance to how many special events you should do during the year because you can’t keep going back to your customers and wear them out with invitations each month. I recommend that jewelers do some kind of special event about once a quarter, not only to stimulate business, but to keep your store associates excited and active in clienteling and selling. This will also keep your mailing and email lists current and up-to-date.
Sometimes jewelers conduct sale events each and every year, but we have found that your customers get used to this and they gradually tire of it. Eventually, such sales simply don’t work, and in fact work against your normal business because people know they can wait for you to hang a sale sign up every year.
We are often asked about special, one-of-a-kind inventory reduction sale events that are, in my view, very different from the aforementioned special events. When inventory stacks up over many years due to aging – and this happens to everyone in the business – you need a unique selling event that accomplishes a much different task – a necessary and significant reduction in inventory for financial reasons. Monetizing that inventory through a special sale event is a science all its own with a formula that requires expertise not normally found in any jewelry store. This is where The Gordon Company shines because of our vast experience in the process.
If you have questions about this unique kind of sale event, please contact us and we will be happy to answer your questions and provide insights that will no doubt help you. We look forward to hearing from you.
Jeff Gordon, CEO