Dawn Hendricks takes pride in Peridot’s designer-based, artisan-style point of view
1. What is your single best money-saving initiative?
We do more of our own graphic design in-house now. We’re very specific about our look and feel, and we have a strong point of view. We can create a lot using staff members with a basic knowledge of Photoshop. When we used to hire graphic designers, it was great, but today, [communication] is more immediate. In the time it would take a professional to create something, the moment would be over. We have so much more flexibility now that we can do things in-house. I have someone on staff dedicated to social media and graphics, and that’s really money-saving. ”
2. What is your biggest challenge, and what are you doing to resolve it?
The biggest challenge right now is that clients…buy pieces when they’re so inclined more than ever, so their spending is less predictable. There’s much less flow and much less consistency. People you expect to see more often, you don’t see very much. I think it’s almost like people are a little less inclined to spend freely, even if they have [the means]. We overcome it because people are passionate about the jewelry we have…and there are always new clients, especially with our new flagship store in Larchmont Village. But consumer spending is much less patterned than it once was. The end result is still really good. But it’s a little nail-biting in between.
3. What’s the best idea you’ve ever come up with for your store?
I would say for many years we merchandised by designer, and most of our designers would have rings in their collections. But at one point we decided to put all the rings together on display near the cash wrap. It was very “anti” what we do, which is separate and distinct collections. But everyone would gravitate toward those rings as they were getting ready to leave.
4. What advertisement or promotion has elicited the biggest response, and why do you think it works?
When we do Facebook posts with a personality in them—a person or, say, a dog—we get a great response. We did a post with my manager’s dog in the store window, and it sounds lame, but it got more hits than anything! We recently posted a photo of myself, a client, and someone from my staff showing off our Anne Sportun rings; that was popular, too. People respond to that personal touch. They feel like they’re connecting to people as opposed to an object.
5. How do you differentiate your store from the competition?
Being the only boutique in this area to carry Cathy Waterman makes us feel really special. It sounds strange because it’s me buying jewelry, but it is an honor. She is in so few stores. I also think we’re extremely curated—there should never be a piece that I don’t adore or wouldn’t wear myself. We don’t overbuy. When we take on a new collection, we make sure it can be a singular representation of that style in the store. That not only benefits the designer, but also makes it easier for clients to make decisions.