Retailing in Tough Times: The Power of Promotions

Your town's big employer lays off several hundred people. The local economy sinks. Business in your store drops. What's a jeweler to do when times get tough? Plan some clever promotions to inspire your staff, pull in traffic, and build sales, say business experts and jewelers around the country. When times are tough, it's especially important to keep your name before the public. "People don't stop spending when the economy tightens up," notes retail consultant Kate Peterson of Performance Concepts, Olympia, Wash. "They're just more selective about what they spend money on. So, be sure you're the one who gets it." That's why Vicki Shaw of Shaw & Son, Canal Winchester, Ohio, keeps "promoting, to give people reasons to come in," while Eileen Eichhorn, Eichhorn Jewelry, Decatur, Ind., says, "You must create attractions to bring people to your store, especially with so many opportun
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