Bachendorf’s

Dallas, Texas

STRATEGIC STORE CLOSING EVENT

 

Bachendorf’s is known as one of America’s finest upscale retail jewelers, but when one of their three stores was under-performing to management’s expectations, it called for some serious inquiry. Location and changing demographics are often good reasons to close down a store, and this was the case with one of theirs. But the question was how to do it without negatively affecting the other two highly successful stores and without tarnishing the stellar image of the Bachendorf brand. At the same time, management wanted to take full advantage of what a unique sales event could do for the business in disposing of aged and unwanted merchandise that had built up over the years.

“We never considered having a liquidation sale. I had heard great things about The Gordon Company from other jewelers whom I respect, and after seeing the higher standards they keep in their marketing materials, I decided to go ahead and try it. After my experience with The Gordon Company and the sale they handled for us, I wish I could do this once a year!” – Lawrence Hock

The Gordon Company Challenge and Scope of Work:

• Create a strategic plan to close one of the Bachendorf stores while at the same time maintain their impeccable reputation in the community
• Hit lofty sales goals while significantly reducing aged and underperforming inventory

“When I first saw the sales projections that The Gordon Company predicted, I did not think we would attain them. In the first week of the sale, we more than doubled our projected sales goals!” -Lawrence Bock

• Generate a sizable increase in new customers who would continue to shop in the remaining two Bachendorf stores
• Provide tailored and productive supplemental merchandise in key areas to drive incremental event sales
• Have an experienced in-store supervisor to assist in all aspects of the sales event

“The Gordon Company sent us an all-embracing, jewelry-savvy consultant who was highly focused on driving sales. The consultant handled every detail of the merchandising and marketing of the sale and blended seamlessly with the store staff. The Gordon Company came in with a plan, executed it well, and over-delivered on our jewelry sales. Amazing!” – Lawrence Bock

The Gordon Company Accomplishments:

• The strategic sales plan moved more aged merchandise than ever anticipated
• 21% of the actual sales went to new customers who had never purchased at any Bachendorf stores, and these new customers accounted for a remarkable 34% of total sales dollars
• The sale was cut short (it lasted only 27 days) due to unforeseen circumstances, but still exceeded the total original sales goal projected over a much longer period of time
• Sales of the client’s original unwanted merchandise exceeded the goal that was set
• A lower-than-anticipated average discount on all goods was achieved, still exceeding sales projections and putting more actual dollars in our client’s pocket

“When I considered hiring The Gordon Company to do my sale, I had no idea it would generate so many new customers. Due to this sale, my mailing list has grown significantly, and going forward we will be able to reach a lot of new and viable customers.” – Lawrence Bock