SimplexDiam, well-known for its closeout business, has introduced a consulting division that now offers retailers an à la carte menu for building, running, and advertising promotional events.
For retailers of fine jewelry who want to hold an anniversary sale, retirement sale, or an event simply to unload stale inventory, Darren Fries, director of SimplexDiam’s 9-month-old division, has a few tricks up his sleeve. Having helped retailers run these events for the past 23 years, he creates the advertising, adds well-priced inventory from SimplexDiam to fill in any holes, and assigns a consultant to physically remain at the store leading up to, and for the duration of, the event. “Prior to each event, I build projections based on the history of each business and the type of event it is. I can determine how much volume we can produce as well as inventory and profit margin expectations,” says Fries, adding that he has an 85 to 90 percent accuracy rate. “If they like what they see, we coordinate an event.”
Each situation is unique: Some retailers have financial issues, others have difficulty assessing pricing, or there’s an urgent going-out-of-business need. “There’s a knack to doing them,” says Fries. “When you need legal information, you go to an attorney. This is what we do. We know how to run short-term sales to help alleviate the jeweler of whatever situation may exist.” Fries is so confident of SimplexDiam’s advantages in the marketplace, he advises retailers to talk to more than one company. “I don’t think other companies can provide the basics at the price that we can,” he says, explaining that an event can be up-and-running in as little as a month. For a confidential, no-obligation analysis, contact Fries at 843-471-2435, email email@example.com, or visit SimplexDiam’s website.Follow JCK on Instagram: @jckmagazine
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