If you receive my monthly messages, you already know you are in the upper echelon of independent retail jewelers. You worked very hard to get there, and as importantly, you want to stay there. But are you marketing effectively to the upper echelon of consumers in your region? And have those same consumers changed their attitude about purchasing high-end jewelry?
A lot is made of whether people with significant amounts of disposable income want to flaunt it as conspicuously as in decades past. The Great Recession of 2008 had a major impact on consumer attitudes and caused people to rein in on spending for items of extravagance. But nearly a decade later, what has changed, if anything, from the challenges that all businesses faced coming out of the recession? Not that much. To be sure, luxury isn’t dead. But consumer attitudes have remained somewhat cautious and the idea of flaunting jewelry is part of that caution.
At The Gordon Company, our primary target audience is you, the upscale jeweler. We want to do everything we can to help you stay in business, and to thrive doing so. When I read that most affluent consumers have continued to suppress their conspicuous consumption, I see a direct correlation in the massive build-up of aged and under-performing inventory in our top clients. With the banks pulling credit lines from our trade – almost like we’ve been targeted – the need for liquidity in business has never been greater.
The resistance to doing a major sale event for most upscale jewelers like you is the worry about tarnishing your great brand name. That’s exactly why we take a sophisticated approach to customizing every promotional event. You market to the affluent, and so do we. If you need to dispose of unwanted merchandise – and I suspect you do – and want to raise cash, reduce debt, increase your mailing list, and start a new 12-month cycle fresh, then we have the answer.
Give us a call for a free, confidential, no obligation consultation. It is our pleasure to work with the affluent in our industry, just like you.