We speak with jewelers every day so we know many are facing life-changing decisions this year. Odds are, you probably are too. The Coronavirus pandemic has forced every retail jeweler to consider a strategy for the future and to develop a plan to survive a very uncertain time.
Retail bankruptcies have been part of the news almost weekly and the challenges retailers face with online competition have been a constant theme. We know that the pandemic has strengthened and accelerated online shopping, which is why we are incorporating ecommerce and other digital resources for our clients (more on that in a future newsletter). But there are things you can do as a brick and mortar jeweler that sole online retailers simply can’t do. Having a major sale event in your store is one of them.
You are well-known in your community and have a local following, and this brings you market power in the region. The years – even decades – you’ve invested have had a tremendous impact on the feelings your customers have for you. That awareness, your reputation, and the loyalty of people combine to be the single greatest asset you have when you decide to run a major sale event.
Life-changing decisions can be a huge burden. But if you step back and consider what you may need to weather the current storm, a professionally-run sale with experts in the field like The Gordon Company can make those decisions much easier, and very profitable, too.
Jeff Gordon, CEO