We can go all the way back to Henry Ford, founder of Ford to hear “A
market is
never saturated with a good product, but it is very quickly saturated
with a bad
one.” What guide should we use to find the motivation to purge dated
inventory
and offer great jewelry products?  Of course we can say all great
jewelry
products sell quickly and generate an exceptional profit margin.
However, it is
not always that easy to identify great products. In a previous blog we
have
discussed jewelry products with outstanding eye value. Products that
look like
they should sell for more than our pricing schemes guide us to price the
item
at.  Great jewelry products generate a lot of excitement with shoppers
and have
exceptional eye value.

Let’s say we have done a great job of finding jewelry products with
great eye
value . . . and we have products different from our direct competitors
so we
also have rarity and exclusivity in selection to offer our customers.
What else
do we need to do? If we follow Jeff Bezos, founder of Amazon we will
also focus
on experiential marketing as he stated “If you do build a great
experience,
customers tell each other about that. Word of mouth is very powerful.”
We
recruit, hire, train, motivate and manage sales associates who are
empowered to
provide outstanding luxury shopping experiences through powerful sales
presentations and product demonstrations that lead to product sales.

So we have the right jewelry products and the right jewelry sales
environment
and exclusive shopper experience; what else is required? We need to
communicate
our product offering to the right targeted customers. John D.
Rockefeller, US
industrialist once commented “Next to doing the right thing, the most
important
thing is to let people know you are doing the right thing.” Getting a
high
number of shoppers to convert into satisfied customers is part of
generating the
outstanding number of turns that great jewelry products represent.  We
need
marketing campaigns that build foot traffic with the right targeted
customers.

So what makes for a great jewelry product? A product that has great eye
appeal
and screams wonderful value while being offered in an exclusive setting
with
over the top service provided to shoppers.  The offering must be
effectively
communicated to the right target customers using the right value
proposition and
delivered through the right media at the right time. Being great has a
lot of
requirements and a lot of rewards. Operate from a position of strength
by
offering great jewelry products.

JCK