Devon Fine Jewelry
Wyckoff, NJ
INVENTORY REDUCTION SALE
Nancy Schuring’s modest beginnings in jewelry started in a tiny room in her apartment in 1975 and have evolved into a beautiful and gracious showroom you see today in Wyckoff, NJ. Her extraordinary store boasts some of the finest brands in the jewelry industry, with one of the widest selections of gems – over 100 different varieties – found anywhere in the United States. Devon’s isn’t just a jewelry store; it’s an experience. The staff includes people with decades of experience in all aspects of the jewelry world and educates customers daily, staging entertaining and informative events on a regular basis.
The Goal
As with most stores, inventory build-up caused a need to reduce aged and underperforming merchandise. In Nancy Schuring’s words, “The Gordon Company understood our community, our store, our exceptional customer base, and our competition. I was so glad I chose a company with a positive attitude about excess inventory, and they did not disappoint.”
“When I decided to have a sale, I chose to go BIG. The Gordon Company runs high-impact sales. They do everything. To our surprise, the most effective form of advertising was the mobile billboard truck. When the truck was on the road, we had the most traffic in the store, and the most sales. The most amazing thing was that the truck became the talk of the town. It even brought in people from adjoining towns and people who had never been into our store or had not been in for a long, long time.” – Nancy Schuring
“The Gordon Company used many different media in our advertising. One surprise was the effectiveness of print in the local newspaper. It’s great to know that people in town still read the newspaper and open their mail. It was like taking a course in marketing, which also helped us increase our mailing lists with hundreds of new people.” – Nancy Schuring
Sales Results
- Total sales for the event period were 3.28 times greater than the same period in the prior year
- Of the total sales, 84% were from the client’s original inventory and only 16% were from augment merchandise
- Original inventory sales exceeded projections by 12%
- Projected gross margin on original inventory was 30.87%, but the actual gross margin on the sales was a remarkable 32.12%
- In a shortened sale of only 52 days, the event yielded 98% of a full year’s worth of sales
“The Gordon Company demonstrated outstanding professionalism, high-quality materials, and a brilliant strategy. The daily monitoring of every aspect of our sales event was amazing, leading to the great results we experienced.” – Nancy Schuring
