Mann’s Jewelers
Rochester, New York
INVENTORY LIQUIDATION EVENT
Mann’s Jewelers was closing one of their two stores, but realized this would result in twice as much inventory as needed for the remaining store. They sought the advice of The Gordon Company to consider the best way to handle the situation. But when the actual store closing was nixed by mall management, a new theme had to be created, and the recommendation was to conduct a customized, one-time inventory liquidation sale. Ultimately, Mann’s just told the public the absolute truth: after consolidating two locations into one, they were going to run a once-in-a-lifetime sale event, with every piece being offered at never-before-seen prices. The Gordon Company was selected to run the event and the results exceeded all sales expectations.
“I was flabbergasted on what was selling in both aged and augmented merchandise in the first week of our sale. The Gordon Company was right on track with what they told me would sell.” – Nancy Mann
The Gordon Company Assignment:
- Design and execute a marketing plan to create urgency and drive historic streams of traffic
- Focus on liquidating as much Mann-owned jewelry items as possible
- Provide exquisite augmented merchandise at valued prices to ensure a prosperous sales event
- Guide personnel in all departments to secure smooth shifts through each segment of the sale
- Help to transition customers from the closed Eastview Mall store to the remaining store
- Recommend future merchandise needs with styles that performed well
- Maintain Mann’s brand image and excellent reputation throughout the sales event
“The Gordon Company’s strategy produced sales results that were above my wildest expectations! I looked at several different providers for this style of service, and I know we made the right decision in choosing the Gordon Company.” – Nancy Mann
The Gordon Company Results:
- Substantially increased cash flow with the movement of vast amounts of aged inventory
- Projected sales of owned inventory were exceeded by 12%
- Out of the 1,985 purchases during the sale, 387, or nearly 20%, were new customers
- Conducted the sale professionally, stabilized the business, and protected the Mann brand
- Over the 47-day event period, total sales increased more than 3.5 times over the same period in the previous year
- Provided guidelines for future marketing based on solid analytic research
“I want to personally thank the Gordon Company for helping us get back on our feet. They came in with a flawless plan, executed it well, and made it turnkey and easy. They gave us a needed shot in the arm and helped us stabilize our business. Thanks to the Gordon Company we are cash flow positive for the first time in a long time!” – Robert Mann
