McGee Jewelers’ Family Transition
Greenwood, IN
RETIREMENT/INVENTORY LIQUIDATION SALE
Bob McGee, the long-time and well-respected owner of McGee Jewelers in Greenwood, IN, turned 70 and decided it was time to slow down. With his son and daughter-in-law in the business for over a decade, it seemed to be the right move to conduct a Retirement Sale. After researching other companies, the McGees chose The Gordon Company and were very pleased with the results of their sale.
Spring Sale Event
The months of April and May were strategically selected as the optimum time to conduct the McGee sale so as not to conflict with the all-important holiday season. The goal was to eliminate the majority of aged merchandise and generate significant cash flow to pay down some debt and allow for a smoother transition of leadership to the next generation.
“On our first day of the sale, we tripled the best day ever in our company’s 34-year history. And our first day of the sale was a Tuesday!” – Bob McGee
Outstanding Financial Results
- Total sales were 10% higher than the original Gordon Company projections
- Compared to the same time period the previous year, total sales were 4.29 times greater
- Nearly 80% of the client’s original cost inventory was sold in 62 days
“We made more sales in the first 11 days of our sale in the month of April than any December in the last 10 years. And, we sold more in the first 3 weeks than any November and December combined.” – Bob McGee
Significant Long Term Customer Benefits
- Over 5,800 people came through the door in the 62-day sale with 3,680 total tickets written
- 553 new customers to the store accounted for $510,000 in sales
- Direct Mail was the best media for marketing in this sale, a fact that will help the McGees well into the future
- 1,121 new email addresses were added for future marketing efforts
“The Gordon Company representative was truly outstanding. He worked harder than any of us family members and was in the store seven days a week.” – Bob McGee
