This is a legitimate concern we hear from almost every fine jeweler we work with. The Gordon Company prides itself in working with the top jewelers in the country. Our professionalism is next to none in the industry, and we do everything possible to ensure the quality and integrity of each area in a sale event, from the marketing materials created specifically for you, to the type of advertising used, to the fit of augmented merchandise brought into your store, to the quality of our on-site Gordon Company representative. Most of all, you, the jeweler, approve each and every area of the sale. We want and need your 100% support. That is what makes our sale successful financially where your personal goals will be met and also guarantees the maintenance of your top-notch brand and quality image in the community.
“We also learned that it IS possible to maintain our high level of integrity and trust with our existing and new customers while conducting a sale. This was something we were never in favor of since we thought it would undermine our philosophy. But it did nothing of the kind because of the way The Gordon Company orchestrated the event.“
The event itself usually generates three to four times the average sales of the same period during the previous year. It does so because of the extraordinary marketing, advertising, and promotion administered through the sale. Logically, there is a short let-down or drop-off in sales after the event, but that should last only a minimal amount of time. Lessons learned during the sale period will help prevent a prolonged softness in business. Most of all, the continued focus of management on driving business is what is most important. (See next question.)
“Amazingly, we had continued success even after the sale with a 20% increase in our business.”
Absolutely. Owners and managers must continue to market and promote, albeit at a much more modest level after the sale, but the momentum built during the sale should continue with the store long afterward. One of the comments we hear most often is that new customers are generated to such a degree that they more than make up for any perceived short term loss. It ís the long term that really counts, especially for those jewelers who conduct an event to eliminate underperforming inventory, and want to move forward with the increased cash in-hand and the larger customer base generated from the sale.
“The Gordon Company marketing and advertising of the sale worked extremely well and we now have a much better idea of a marketing plan of how and where we can get the best ROI for the future of our business.”
Our clients have experienced a range between a 20% – 52% increase in customer base as a result of the sales event. We collect both street and email addresses on all customers. It is common for new customers to say that they never knew the store was there until they saw our advertising. This increased customer base adds significantly to the growth potential of the business.
“I thought The Gordon Company would help me with a positive sale, but I didn’t realize they would also help me with my future operations. 41% of the customers during the sale were new, and they added nearly 1,500 names to my mailing list, and over 1,300 to my email list! I now have a list of fresh, new customers, which I can transition into healthy sales going forward. I can’t thank The Gordon Company enough.”
Most jewelers have holes in their inventory mix (or will once the sale starts), especially with their desire to liquidate aged inventory that has been sitting around for many years. The augment jewelry helps to sell your owned inventory. Every successful sale benefits from augmented merchandise filling categories that are necessary to appeal to the widest possible audience. Don’t worry. We tailor augmented merchandise to fit your current merchandise mix, style, quality, and vendors. You will approve all products brought into your store and have the right to reject any of them.
“The supplemental jewelry The Gordon Company brought into the store was awesome! It matched our style of operation perfectly, and gave many options to our guests that they never would have had and helped to hold our margins high.”
First of all, The Gordon Company doesnít own any inventory and the merchandise that is brought in is new product, not closeouts. That is one aspect of our work that is unique from other companies you may talk to. Our goal is to sell your unwanted, aged inventory and generate cash flow for your business. The additional inventory brought into your store is also yours to profit from, but typically only a modest amount of sales are from augmented merchandise.
“I was very pleased with the quality, value and variety of the inventory provided by The Gordon Company. I was also extremely satisfied with the strong emphasis that they put on selling my original inventory, as that was one of the most important goals going into the event.”