JCK 5: Lessons for Upscale Retailers

1. Have fun with display

Lazare Kaplan celebrated the launch of its new Twist bridal jewelry collection at Luxury by JCK with a series of framed vintage Twist-themed ads (think Chubby Checker) in its booth windows. The backdrop featured oversize dancing silhouettes.

2. Do less with more

Why bombard clients with excessive e-mail? Mike Song—an expert in e-mail, meeting, and time management—advises jewelers to ask three questions before hitting “send”: Is the message really important? How will the message make your brand look? Is it targeted to the right audience?

3. Manage ­inventory

Choose a realistic percentage of stock that’s no more than a year old, and monitor it in quarterly, semi-annual, and annual increments. Another way to manage aged inventory: Know the top and ­bottom 20 best-selling SKUs.

4. Speak their language

Relate to your customers by staying on top of the fashion and lifestyle magazines, says Doug Hucker, CEO of the American Gem Trade Association.

5. Stay informed

The latest in consumer research: Women are the most significant decision-makers in buying luxury goods, and luxury watch purchases are gaining momentum.