APRIL 2020 EDITION
In this grave time it is important to stay positive and remember that love casts out fear. We will still stay #RJOStrong
In This Issue...
How to Survive Coronavirus from Edge Retail Academy!....................................Page 4 The Edge............................…................................…..............................................................….Page 9 MSG Payment Systems.................................................................…...................................Page 10 Gem Legacy............………………………………...…...........................................................…...........Page 11 Thinkspace.............................................................................................…………......................Page 12 Samuel Spil...............................................................................................................................Page 13 Quality Gold...........................................................................….......….....................................Page 14 Fana.............................................................................................…………………...........................Page 15 Jewelry Ads That Work.................................................….........…..............……..................Page 16 Jewelry Innovations..........................................................................................……...….......Page 17 JD&Co. A Trung Do Goldsmith Co....................….……….........….................……..............Page 18 Rembrandt Charms..............................................................................................................Page 19 Star Gems.................................................................................................................................Page 20 Berco...........................................................................................................................................Page 21 Lafonn.........................................................................................................................................Page 22 Solupay........................................................................................................................................Page 23 New Next Gen Dates!...........................................................................................................Page 24 ASHI.............................................................................................................................................Page 25 Color Merchants Brevani...................................................................................................Page 26 Nice Diamonds.........................................................................................................................Page 27 Concepts Earrings & Marketing.....................................................................................Page 28 Podium........................................................................................................................................Page 29 Jewelers Mutual.....................................................................................................................Page 30
Coronavirus Survival Tips for Retailers Some jewelry retailers will be starting to experience slower traffic and reduced hours with the uncertainty that lies ahead. Other stores are temporarily closed to the public but continue doing business online. Every Store and City/State is experiencing things differently. With that in mind, it is a good time to prepare now, because with some slight changes, you can still achieve sales! And with some hard work right now, you’ll be in a stronger position when you open your store back up. Below are some ideas and strategies to help during this social distancing time we are all facing.
Strategies For ALL ✓ Resources for Jewelers Use this link as a quick reference for relief and services regarding your financials, employees, small business administration and health.
https://drive.google.com/file/d/1aiCX3i43VTVUxAukgDD9unu1e10rdtsq/view ✓ Keep a positive attitude 1. It is proven to keep everyone healthier! 2. The sky isn’t falling, and it’s different everywhere. Knowing this, might make people feel better. Many of our clients are not actually foregoing making money during this time - they are just doing it differently. 3. Clients are looking at their business differently and noticing where there are areas of opportunity 4. Everyone is impacted by this pandemic and we can help each other through this time. ✓ Sanitize 1. Have extra hand sanitizer all around the store (for your staff and clients) 2. Sanitize counter tops, door handles and all else, frequently ✓ Keep in Touch and Be Present For your Customers 1. Do some fun social media activities. For instance, Facebook live that shows you interacting with your family. Or you sprucing up your store, while jamming to some great tunes, can help to convey a very personable and authentic image. ✓ Inventory 1. Do a physical inventory 2. If you receive new inventory right now and it isn’t essential, discuss options to return it for future delivery. 17330 West Center Road, Suite 110-283 Omaha, Nebraska, 68130 877-569-8657 Inquiries@EdgeRetailAcademy.com EdgeRetailAcademy.com
3. Postpone incoming inventory orders for future delivery 4. Disassemble aged inventory and use the parts for findings you currently need ✓ Online Business 1. Update your Website 2. Let people know your new hours or if your location is closed but you are still open for business. Add an emergency number if needed. 3. Create an online event and show aged pieces with drastic price reductions 4. Host an event/sale via Live Facebook or Live Instagram 5. Get people thinking about Mother’s Day earlier – show the perfect pieces for this upcoming Holiday. 6. Take updated photos of your inventory – a great time to catch up on this! 7. If you use Podium, call to have the “pay by phone” set up ✓ Financial Analysis 1. Have you had your annual Financial Analysis to point out excess expenses and ways to increase cash flow? 2. Edge Retail Academy clients receive this complimentary service. It is essential, to keep your business as healthy as possible. It is important to have strategies to strengthen your financial picture, now more than ever. ✓ Analyze Your Data and Reports 1. Edge Pulse – your mobile device to view your Edge data (Edge Users get Edge Pulse for FREE! Get it, if you don’t already have it!) and see Market Trends, to assess how the rest of the US jewelry marketplace is trending 2. Edge POS – analyze your reports and gain insight on changes you want/need to make 3. Edge Retail Academy provides strategies for clearing out Aged Inventory and achieving your Optimum Inventory Level (OIL) for more cash flow 4. Evaluate which vendors/categories/price points make you the most profit 5. Assess the number of and benefits of each vendor you do business with 6. Gage which collections and price points sell the most for your store 7. Call vendors to negotiate and stock balance. Now may be the best time! ✓ Jewelers 1. Catch up on jobs they are behind on 2. Disassemble aged pieces, to create new, updated product ✓ Store Appearance 1. Deep clean the store and shop areas 2. Instead of paying people to clean your carpets or windows right now, do it yourself 3. Move your displays around to make your store look fresh 4. Clean all the jewelry in the cases to make everything sparkle – and most important - if your store is closed, ensure all your jewelry is in your vault 17330 West Center Road, Suite 110-283 Omaha, Nebraska, 68130 877-569-8657 Inquiries@EdgeRetailAcademy.com EdgeRetailAcademy.com
5. Find “do it yourself” projects to make your store, gardens and parking lot more inviting
Strategies – If Your Store Is STILL OPEN ✓ Reduce Store Hours 1. Close an extra day or 2 (Sunday and Monday) 2. This will reduce everyone’s schedule and hours 3. Some stores are working by appointment only. In addition to phone calls, utilize social media such as Facetime, Skype, and texting. 4. Post messaging such as “We are closed to the public, but not closed for business!” 5. Focus on giving the ultimate personalized shopping experience! 6. When customers come in, remember to capture their “Why In” and contact information just like usual. ✓ Assess Staff Performance 1. Are there staff members that have not been performing? 2. Take action – provide lots of sales training and role-playing during this time. Make them stronger and better skilled, for when the doors open again. 3. Have your Store or Sales Manager conduct performance reviews and monthly coaching. 4. Reassess who is working well in your business and who is not. Is everyone in the right role for their skills? 5. The hard truth – this may be the ideal time to let go of non-performers. It is one way to reduce payroll. ✓ Staff Training 1. Create short trainings based on the skills you want to improve 2. Take time practice and role-play the skills they learn, to perfect them and be ready when traffic picks up again 3. In Edge Pulse, there are many pre-recorded Webinars to lead sales training and discuss as a team (found under Performance and Library) 4. If you need help with creating and delivering sales training and want/need someone else to do it, the Edge Retail Academy Business Academy (consulting program) offers this as part of your program. Your business advisor can set up sales training webinars for your team. ✓ Sales 1. If you haven’t set up a CRM for your clients, now is the time to do it 2. Keep margins up 3. Increase ARS when possible 4. Add-on sales are helpful 5. Get back to offering Gold Buying, as many of your customers may be looking to gain some quick cash 17330 West Center Road, Suite 110-283 Omaha, Nebraska, 68130 877-569-8657 Inquiries@EdgeRetailAcademy.com EdgeRetailAcademy.com
6. Don’t stop clienteling – keep in touch with your clients and their special occasions coming up 7. Sell a Gift Card and add 10% to it for a 2-week period – this gets people to come in and use it quicker!
Strategies – If Your Store Is Temporarily CLOSED ✓ Close For 1-2 Weeks (or more) Altogether 1. Ensure clients knows how and where to contact you during this closed time, should they need something urgently 2. Add a chat feature on your website 3. Keep in touch with your clients – do not stop marketing! eBlasts and texts work great! 4. Skype and Facetime work well to communicate and show jewelry pieces if/when needed! 5. Remember: Amazon is still open for business - Customers are still shopping! Just because they cannot come into your store, doesn’t mean they are not still buying! ✓ Staff ▪ If you are keeping staff and paying them during this time – have them work remotely, on things from home: 1. Reminder #1: you cannot work on your Edge POS remotely, so whatever client lists you need, you can print out before you have your staff work remotely, or email them clients to follow up with. Have them keep notes on all, so you can upload to The Edge when they return. 2. Reminder #2: Edge Pulse, the FREE Edge add-on, is available to you, to view your Edge sales and inventory data, with up to the minute details, available 24/7. If you don’t have this and want it, let us know and we will get you set up! 877-569-8657, X002, or Nancy@EdgeRetailAcademy.com 3. Clienteling – don’t stop! Give your team clients to call for upcoming special occasions. People will still be celebrating! 4. This is a good time to work your CRM lists, as you have time to go through top clients, and update other details as needed 5. Check to see if any of your customers have outstanding credit, gift certificates or rewards to use in your store. Encourage them to use it! 6. Have your team finish their GIA classes or other online classes they are taking 7. Work on further Edge Training through their pre-recorded webinars and new Topical; Trainings they offer now (see your Edge Newsfeed for all the dates, times and recordings from recent trainings) 8. Have your team learn to use Edge Pulse more in depth (several help videos on all the features, or Edge Retail Academy can provide free training!) 17330 West Center Road, Suite 110-283 Omaha, Nebraska, 68130 877-569-8657 Inquiries@EdgeRetailAcademy.com EdgeRetailAcademy.com
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9. Many sales and management pre-recorded webinars in Edge Pulse (under Performance and Library) for the team to brush up on their sales and leadership skills 10. Have your Store or Sales Manager conduct sales training via Skype, Facetime and Zoom. 11. Have your Store or Sales Manager conduct performance reviews and monthly coaching via Skype, Facetime and Zoom 12. Schedule virtual team trainings with your vendors 13. AGS is offering a free class until April 7th, 2020, if you are a member Have the staff take vacation If your business is closed, you might need to consider temporarily laying off your employees so that they can collect unemployment. Check with the Department of Labor and specifically, your state.
Edge Retail Academy is also available to provide guidance on properly adapting in these challenging times. Please be sure to reach out to us at Inquiries@EdgeRetailAcademy.com or 877-569-8657, Ext. 001
17330 West Center Road, Suite 110-283 Omaha, Nebraska, 68130 877-569-8657 Inquiries@EdgeRetailAcademy.com EdgeRetailAcademy.com
Check out this overview video on Edge Pulse
Please contact our sister company, The Edge Retail Academy 877-569-8657, ext. 002 or Nancy@EdgeRetailAcademy.com
We’re here to help. Within just a matter of days, we have seen ingenious and resourceful business owners overhaul their traditional business models and implement delivery, curbside pickup, and e-commerce services so they can continue to serve customers. During these uncertain times, we have the following solutions that can help with cash flow and business operations:
• Online Payment Page • Free Next Day Funding • FirstView Premium reporting: Access transaction data on the web 24/7. • No-interest financing on new payment terminal purchases. • Cash Discount: add a small service fee to minimize your cost of payment card acceptance. • Free FirstAdvantage Gift Card Starter Kit
Free Mobile Card Reader In an effort to support and help out in the way our business can, we are offering clients a free mobile card reader & mobile app service to accept payments on a smartphone or tablet everywhere they are doing business. Offer details: Setup fee, mobile monthly service fee, and mobile transaction fee waived through June 30, 2020.
We are committed to helping businesses succeed. If you are interested in learning more about our services or a complimentary merchant services savings analysis please contact us. msgpay.com/quote | 888-697-8831 | hello@msgpay.com
22 Year Member
©2020 MSG Payment Systems. All rights reserved. MSG Payment Systems is a registered ISO of Fifth Third Bank, N.A., Cincinnati, OH.
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Build a Custom Design Business in time for Mother's Day. Don't turn away customers looking for that 'special something' that's not in your case. Bring their visions to life through custom jewelry design & manufacturing. Partner with JD&Co. for your seasonal custom jewelry needs including Spring engagement ring requests, Mother's Day pendants, and fashionable earrings and bracelets. For custom designs, JD&Co. offers RJO members: - Same-day estimates (within 24 hours) - Renderings in 48 hours (no charge if we cast) - 3 weeks production (2 week rush option) - Free return shipping on invoices over $100 Remember, there’s no job too small or too challenging. Expand your in-house abilities through a profitable outsourcing busines
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COVID-19 Update
We are open with reduced hours! Monday – Friday 9am – 4pm est. We will be shipping as long as permissible by NY State Visit our website for more updates
We have a huge inventory!
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Contact Us Today! p.800-828-7840 • f.800-828-7811 • www rembrandtcharms.com Lifetime Warranty
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RJO – Inside Track -April IMPORTANT INFO / UPDATES: Summarized Press Release sent February 4th, 2020: NEW YORK, NY, DATE — Color Merchants, respected for more than 30 years as a leading supplier of classic diamond and color stone jewelry, is empowering the second generation of this trusted, family-run business to focus on designs that are young, fresh, and easy to wear with its in-house brand, Brevani. The recent induction of Brevani into the American Gem Society emphasizes the company’s commitment to deliver exceptional product to their retail partners. Also notable, Brevani/Color Merchants are Plumb Club members that are working to become Certified Members of the Responsible Jewellery Council (RJC) by 2021. While Color Merchants will remain a source for classic gem-set jewelry, Brevani is working to be the source for every day, fun, fresh and innovative fine jewelry for a new generation of consumers. For more information, contact: Allison Peck at allison@brevani.com or call 800-997-8780.
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P10539 This starburst pendant features a 0.12pt pierced diamond hanging in the center that is constantly in motion catching the light with every movement. Made of 14kt yellow gold featuring 0.19pts of diamonds. MSRP: $500. For more information visit www.brevani.com or call 1.800.997.8780 for more information. RM10411 This brushed gold ring is perfect for every day. Made of 14kt yellow gold and features 0.14 pts of diamonds. MSRP: $800. For more information visit www.brevani.com or call 1.800.997.8780 for more information.
P4290-18 This Brevani necklace is a definite head-turner! This Brevani necklace made up of 14kt yellow gold features 0.16ct of diamonds, and 3.18ctw of white topaz. MSRP: $1,350. For more information visit www.brevani.com or call 1.800.997.8780 for more information.
E10519 Obsessing over these double huggie earrings right now. These Brevani earrings feature 14k yellow and 0.26pts of diamonds, perfect for everyday! MSRP: $1,000. For more information visit www.brevani.com or call 1.800.997.8780 for more information.
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