Zimmer Brothers Jewelers

Poughkeepsie, New York

INVENTORY REDUCTION & CASH RAISING EVENT

 

There aren’t too many independent jewelers in the United States who can boast of being in business for over a century. But Zimmer Brothers, a multi-generation business, can do just that.

In honor of its 120 years in existence, the company wanted to conduct the most spectacular Anniversary Sale in its history. Michael Gordon and his daughter, Jocelyn, had held successful sales events every decade or so, but this year, they had a substantial amount of excess inventory as a result of the economic downturn. They wanted to dispose of these excess goods, and through consultation with The Gordon Company, it was suggested that Zimmer conduct a longer sale and sell more product than all their previous sales.

The Gordon Company Assignment and Scope of Work:

• Create and conduct a longer, unique anniversary sale that would not lose momentum after the first week
• Liquidate almost $1 million of excess inventory and maximize the recovery value
• Mitigate the potential adverse impact that the sale could have on the Zimmer brand
• Increase the awareness of the brand and grow Zimmer’s customer mailing and email lists
• Develop an incremental pricing strategy and a customized marketing and advertising plan
• Manage, analyze, and control the sales to react to changes in local market conditions
• Prepare comparative reports on sales to budget, discounts, and margins to control the sales and identify event sales trends

“We had an opportunity to review and add our own concepts to all of our event advertising. The Gordon Company conducted the sale as an extension of our team, and all advertising and marketing was adjusted to fit the Zimmer Brothers’ philosophy and style.“ – Michael Gordon

The Gordon Company Solution and Accomplishments:

• Provided productive supplemental merchandise that aligned with the Zimmer Brothers brand and drove incremental event sales
• Exceeded original sales projections, surpassing the inventory reduction goals by 18%
• Surpassed the projected return on excess merchandise sold by 46%
• Generated 54% of their two-year average annual sales in only five weeks

“I put my confidence in The Gordon Company from the beginning of the sale; however, I truly believed they over-projected the numbers. After the first week, they earned my trust, and I was convinced that the projection would be met or exceeded. Ultimately, they blew the original projection out of the water, making me one happy store owner.“ -Michael Gordon.