Memo to Merchandisers   

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Jewelry customers buy products and have expectations based on utility, function, and performance of the jewelry which is based as much on image and status as the contribute of perceived value. The perceived value of luxury products is important to all luxury companies, brands and products. Image and status are very important to all luxury brandsUtility relates to how a product’s benefits are derived. A watch might deliver utility as a time piece. However, with cell phones and computers and cars all offering the time the real utility of a watch might come from being a fashion accessory. So function refers to how an individual uses a product to gain benefit. Keep in mind if the customer does not perceive any value then no value ex...Read More

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The Economy has changed buyer attitudes as more consumers today are more involved during the due diligence the preform before making purchases. Today more consumers are more inclined to be influenced regarding the products  and services they purchase based on the recommendations they receive. Jewelry marketers need to understand that it is easier today than ever before to lose control of their marketing messages and that it is necessary to more carefully monitor and respond to consumer conversations about their brands.

The most logical place to start is with sales associates. It is more important than ever before for jewelry sale...Read More

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When we were children our parents would preach to us not to talk to strangers. Today the dynamics of digitally communicating with one another has turned that approach on its head as we have entered a world where we are now very comfortable talking to strangers. There are many more relationships being created and maintained online today than in our more traditional face to face encounters.  

To see how much things have changed; we need look no further than the way homes are designed today. Houses used to be built with large front porches so neighbors could easily converse with one another. Now homes are built like fortresses to the outside world with automatic garage door openers so residents don’t even have to stop in the front of their house. And homes...Read More

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Jewelry companies should take notice of the one of the top ten fashion stories of 2008; the return of the supermodel. According to Time magazine, for over ten years many fashion lines have preferred the use of less known models to carry their brands down runways and across the pages of their advertisements. However, today’s top fashion design lines are now responding to the consumer's fixation on garnering more value from their purchases. Top fashion brands are adding value by leveraging the certain beauty of today’s best known models. Brands like Marc Jacobs, Karl Lagerfeld and Stefano Pilati are stepping up their promotional messaging to consumers with some of the most well financed advertising campaigns of all time. Luxury fashion brands are counting on the well identified beauty of famous models such as Claudia...Read More

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A recent survey of CEO’s reported that over twenty percent of the executives had conducted Internet searches via MySpace, Facebook or Google before hiring job candidates. However, executive participation in the social networking sites remains low, with only 4 percent participating in MySpace and 1 percent in Second Life. Wikipedia lists over 150 social networks and there seem to be new ones entering into the space all the time . . . and those are just the ones listed presented in the English language. More and more companies are now seeing the advantages of posting sites on social networks. The cost is relatively low and the exposure can be truly eye-opening. The key is to have relevant information to share with your community . ...Read More

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What are those things that you need to be doing right now that can have the most positive return on your time and money invested? That is the easy part. Here is the tough part. What is keeping you from doing those things that you should be doing right now that offer you the most positive return on your efforts?

Most people would agree that these are not the times for doing business as usual. But knowing what aspects of your business to change can be very difficult; especially in these times of unchartered waters. A prevailing notion at the recent JCK show was a search for new products. Products th...Read More

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Before speaking at the JCK show in Las Vegas I visited a casino or two. I picked up a booklet that provided information about the advantage the casino has in various games- called the house advantage. Mathematically, the house advantage is a measure of how much the house expects to win and it varies by region, casino and game. The chances of winning are maximized when playing games like Blackjack and Video Poker because they both involve an element of skill. All other games are purely independent events meaning that the chances of a specific outcome remain the same and are not influenced by previous events.

Let’s improve your odds of winning by influencing events. This can be done by making events dependent on marketing and sales and merchandising mana...Read More

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Come and learn the basics of design theory and improve your visual merchandising skills. Here’s your chance to really understand design principles such as balance, texture, rhythm, style, tension, depth, and focal point while learning how they each apply to window displays, showcase display, and even collateral materials. See outstanding jewelry store display examples and learn how to create your own displays that are more visually exciting and sell more merchandise. The seminar starts at 3:30pm on Thursday, May 28. See you there and bring your questions!

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Through the beginning of this decade and right up until last year retail jewelers benefitted from the trend called affordable luxury. The trend saw more and more middle market consumers stepping up to buy more expensive luxury goods and luxury branded goods. These consumers were happy to sacrifice buying several items to splurge on just a few luxury items.  I affectionately call these brand buyers who often purchased the lowest priced items offered by the brand “want to be’s.” Evidence of the trend could be found in luxury goods that did and did not carry the brand’s logo. You see the middle market consumers who were sacrificing to be able to afford the luxury demanded the logo be prominent on the product. This represented the bottom end of the brand’s consumer market. The top end customers often prefer...Read More

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Every business has trends that occur in their customers’ shopping behaviors. Most stores have peak shopper hours when the store just seems to be busier than at other times of the day. Mall stores can vary in their peak shopper hour’s verses retail jewelry businesses in stand alone  buildings. With labor being such a huge total costsof operating a retail jewelry store it is imperative that managers track foot traffic to understand trends and respond with proper store staffing.

Some stores use electronic meters to count shoppers passing through the store’s door way. While the total numbers are never completely accurate, they do provide some valuable information that is readily available to managers. Manual systems can also be made effective with a bit of training and constant reinforc...Read More

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