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The Ultimate Jeweler Resource
August 2 0 1 8 • Is s u e 8 1
Best Buying Show Yet! RJO Turns the Volume Up to 11 in Minneapolis
MINNEAPOLIS HAS BEEN THE HOME of a number of record-breaking rock stars. First there was Prince. Then came Janet Jackson. We can now add RJO to that list, as last month’s “Rock Star” Summer Buying Show set RJO’s record for highest Buying Show attendance. Held July 14-16, the Show hosted 170 Vendors and more than 315 jewelers, making for a highenergy gathering that spread across all the days. Julee Johnson, of Julee’s Jewelry in Mankato, MN, posted this comment on the RJO Exclusive Facebook page: “So many great things! Found out everything we needed— or needed to know—for our customers. The best is seeing friends and making new ones! Appreciate all that RJO is and does.”
Also commenting was Nancy Marchell, of Signature Jewelers in Grand Forks, ND: “So many ‘greats’! Keynote speaker, had a wonderful group in our Brain Gain session, and—as always—the networking can’t be beat! Excited for all the new purchases we made, too!”
Says RJO CEO Sarah Streb, “I love to hear what a great business opportunity our Buying Shows offers, and it is always fun reconnecting with the membership!” RJO’s Winter Buying Show is in Nashville in January.
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In the Know with RJO
RJO: Out in Front
EVERY BUYING SHOW has its own excitement, whether it’s about the selection from vendors, the experiences of first-timers, or the personality of the host city and venue. Minneapolis was no different, and the Show really did turn out a Rock Star-caliber performance.
CustomHatch—is ongoing, joining the many RJO-exclusive services, such as a patronage dividend, bi-annual Buying Shows, centralized online billing, and a dedicated scholarship foundation.
The excitement was heightened by the debut of CustomHatch, a new RJO-exclusive service allowing jewelers to receive multiple quotes for a single custom piece from a number of different RJO vendors. CustomHatch has been in development for the past year, and its debut makes it the first online service of its type in the industry. You can read more about CustomHatch—and the experiences of its inaugural users—on page 5 of this issue.
Also I want to be sure our record-breaking Buying Shows continue, so mark your 2019 calendar now, to be in Nashville the last weekend in January for our “Grand Ole Winter Buying Show.”
First-off, the attendance was amazing, with more than 315 retailers rocking and rolling on the Buying Show floor. This is a new record for an RJO Buying Show, and it speaks well of the positive outlook independent retail jewelers are foreseeing.
RJO continues to be a leader in the industry, and offering regular innovation—such as
As an organization committed to being a partner to its retail jewelers and vendors, RJO also depends upon members like you to help us move forward. Below you’ll see a number of Board and Committee opportunities; I encourage you to give serious consideration about how you might best share your time and talent in service to our group.
I hope your solid summer sales continue through the beginning of the school year, Sarah Streb RJO CEO
RJO Board News
Merchandise Review Committee (Retailers Only) RJO is now accepting applications for the RJO Merchandise Review Committee (MRC). There are two (2) seats currently available for appointment. The MRC is comprised of RJO members, appointed by the Board of Directors, to interview, select, and negotiate with new vendors to RJO. The Committee also addresses member concerns regarding our current vendor membership and evaluates the overall participation and support of RJO. MRC terms are three years in length, with Board appointment in early September. If you are interested in being considered for the MRC, please read this information and complete the application form by Friday, August 24.
Foundation Board of Directors (Retailers and Vendors) RJO will be sending out application requests in early September for three (3) seats on the RJO Foundation Board of Directors. Applications will be due on September 28, with Board appointment in early October.
Vendor Advisory Committee (Vendors Only) RJO will be sending out application requests in early September for four (4) seats on the RJO Vendor Advisory Committee. Applications will be due on September 28, with Board appointment in early October.
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From RJO’s Facebook Page THE RJO PAGE ON FACEBOOK hosts a variety of interesting discussions every day. Here are edited exchanges from a post earlier this month:
SERVICES Centralized Billing
Patronage Dividend
RJO Website (rjomembers.com)
Buying Shows (Fall/Spring) RJO Chat Channel
In the Loupe – RJO’s newsletter
Free Print and Radio Ad Library (on the RJO website)
Post: Anyone willing to share any repair flyers and ads they just love? This is one I have been using for a long time and I’m looking to change it up a little. (No following this post unless you share your most successful ad—ha-ha). Reply One: I have no repair ad. But yours made me realize how important one can be!
(Recruitment Program)
Reply Two: If you change it, make sure you track results carefully. Or better yet, figure out a way to split-test the two ads. This has been your go-to ad, and since people come into and out of the repair market, it should continue to work, perhaps for years.
RJO Directory
Reply Three: Can anybody use this, or is it your exclusive to your store?
Educational Seminars (at the Buying Shows)
Member-to-Member Incentive Program Organized Buying Trips to Antwerp and IdarOberstein, and Israel Travel Vouchers at Shows
(offered at varying times)
Free Hotel Room Incentive (at the Buying Shows)
RJO Informational E-mail Blasts
Original Poster: Not looking to get rid of it, I’m looking for something to split-test with it.
Original Poster: I don’t mind if you do. Just share some love. I need a new idea to test out. [ link to downloadable version ] Reply Four:
Purchase Vouchers (at the Buying Shows)
RJO Membership Certificate
RJO Next Gen and RJO Succession Experiences
Private Label Credit Card Service
JewelConnect
Scholarship Opportunities (from the RJO Foundation)
Reply Five: We did an ad in the paper that mentioned free ring cleaning and inspection, and it had a dotted line and scissors, like it was meant to be cut out. We had a ton of people bring it in and got a ton of repair jobs out of it. We always do free cleanings and inspections, so it was nice to see people bringing in the ad, so we knew it worked. We’ve had it three years now and still love it. Very lightweight.
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RJO Foundation News
THE RJO FOUNDATION is moving forward, with four new initiatives rolling out during the upcoming year.
“The Foundation Board is excited to announce their decision to allow both members and vendors to now apply for scholarships from the RJO Foundation,” says Foundation Executive Director Sarah Streb. “Since its inception—through the incredible generosity of our members and vendors—the Foundation has awarded almost 40 members, nearly $18,000 in scholarship monies.” Fall Scholarship applications are now being accepted. Members may apply here.
The RJO Foundation soft-launched its 100+ Club this past spring made its debut at the Summer Buying Show. Information about the 100+ Club—including registration forms—may be viewed here.
In just a few months, the Foundation will initiate a semi-annual T-shirt fundraiser. Short- and long-sleeve tees, and hooded sweatshirts, bearing the upcoming Buying Show’s logo, will be sold prior to each RJO Buying Show; proceeds will benefit the RJO Foundation. An order link will be made available to members soon. “To show support,” says Streb, ‘we will ask all members to wear their Foundation gear to one of the RJO evening events in Nashville!”
Finally, the RJO Foundation National Campaign Committee is putting finishing touches on a National Campaign both our members and vendors can use in their businesses, to help support the Foundation. The National Campaign will launch in at the Summer Buying Show in Schaumburg, IL, in 2019.
Pioneer Members
Allison-Kaufman, Scott Kaufman • Andrew Grant Diamond Center, Robert Grant • Barany Jewelers, Liz Schlauch • Barnes Jewelers LLC, John & Corinne Barnes • Becker Jewelers - IA, Bill Becker • Becker Jewelers - IL, AG Becker • Bijou, Robert Moussa • Cahill-Pribyl Jewelry, Mike Pribyl • Cahill-Pribyl Jewelry, Lisa Pribyl • Cornerstone Fine Jewelry, Luisa Smith • David Douglas Diamonds & Jewelry, Doug Meadows • Dia Expressions, Prashant Mehta • Diamond Emotions, Rick Gouthro • Disinger Jewelers, Bob Disinger • Doland Jewelers, Michael Doland • Eckerman Jewelry, Inc., Mike Eckerman • Grace Jewelry, Kim & Jed Gassen • Hager Jewelry, Mark Cormier • Hawthorne Jewelry, Erika Godfrey • Haywood’s Westlake, Joanna Hudzik • Herteen & Stocker Jewelers, Terry Dickens • James Martin Jewelers, Lucas Doland • Jay Flaming Jewelers, Inc., Marvin Jay Flaming • Jayson Jewelers Ltd., Jayne Ervin • Jewelers Mutuall Insurance Group, Sheri Ihde • Jewelry Ads That Work, Michael Buley • KE Butler and Co. Jewelers, Earl Butler • Keep Me Connected, Tiffany Gonzalez • Laurie Kottke Fine Jewelers, Laurie Kottke • Montage/Wasserman & Wexler (dba IJB), Brian McCluskey • Oz’s Jewelers, Oz Hefner/Brenda Hefner • Performance Concepts Inc., Kate Peterson • Plantation Jewelers, Alex Ramos • Podium, Chris Finken • Ritter Brothers, Tim Ritter • RJO, Inc, Connie Miller • RJO, Inc, Sarah Streb • Setterberg Jewelers - AZ, Kymberlee/Michael Setterberg • The Edge by Abbott Jewelry Systems, Lenny Prion • VEER, Kaushal Shah • Wickersham Jewelry, Deb Wickersham-Borgemoen • Winks Fine Jewelry, Jerry Miller • YCH, Inc., Johnny Wang
JewelConnect updates planned for the holidays
JEWELCONNECT, THE RJO-EXCLUSIVE marketing system, now in it’s eighth year, is in the process of updating its technology for the 2018 holiday shopping season.
“It may seem early,” says Andrew Boundy, JewelConnect’s designer, “but we like to have everything ready for October, to ensure all the upgrades are in place for the seasonal traffic.”
Recent updates, such as the mobile responsive basic template change, has increased monthly 2018 traffic around 20 percent over 2017, notes Boundy.
“It was known we would get a bump using responsive tech for the templates,” says Boundy, “but we didn’t know how much. A 20 percent bump was great, and we hope to increase this during November and December.”
The system also is in the process of going SSL (Secure Socket Layer) says Boundy, allowing the system to
gain important SEO bumps in Google from that technology.
“Some sites can benefit from SSL.” says Boundy. “If they are selling online—or are password-driven— SSL can provide some benefits over non-secure systems. Although we have always used specialized data encryption, this is another level to add to the platform”.
The JewelConnect system is being upgraded in stages over the next few months, during late August and early September.
Boundy confirms the popular RJO Diamond Library also will be getting a refresh, making the system stand-alone and allowing linking or embedding from different platform sites. He says the update will be officially released at RJO’s Winter Buying Show in Nashville, but hopes to have it readily available for the holiday season.
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RJO launches CustomHatch: Get multiple quotes on custom work from a variety of RJO Vendors
JEWELERS LOOKING TO INCREASE THEIR CUSTOM BUSINESS now have a new tool, courtesy of RJO’s CustomHatch platform, launched last month at the Summer Buying Show. The system is accessible to all RJO members at the dedicated website: RJOCustomHatch.com.
Members are walked through the details of their custom job, including any special requests or demands, and the quote is submitted into the CustomHatch system. Participating RJO Vendors then bid on the job and produce quotes, which are displayed to the jeweler in a chart, making it easy to compare the quotes in a variety of categories.
“At launch, we have 13 RJO vendors participating in CustomHatch,” says RJO CEO Sarah Streb. “This number should continue to grow as the service matures.”
Participating launch vendors include: • A&D Gem Corp. • A.Neal Originals • Diamond Expressions, Inc. • Gemco International • Guild + Facet • Jewel-Craft • Lustour by Aiya Designs • Overnight Mountings • Parle Jewelry Design/Idaho Opal • Star Gems • Stuller • Val Casting • Veer Diamonds
Vendors interested in joining the platform can contact system developer Andres Boundy of VRB Internet Solutions at: sales@vrb.ca. Though still in its early stages, the response from both jewelers and vendors is decidedly positive. “I was recently made aware of the fact I was the first
jeweler to award a job through the new RJO CustomHatch program.” says Robert Hunn of Hunn Jewelers Inc. in Ellisville, MO. “I’ve been a part of RJO for a very long time and joined because of the philosophy Ed Bacon always professed: ‘We exist to benefit the small jeweler, to give them an edge against the larger stores, to help our fellow jeweler.’ I believe the CustomHatch program is a brilliant design and a tremendous benefit to the RJO membership. CustomHatch system designer Andrew Boundy (of RJO vendor VRB Internet Solutions and JewelConnect), made it incredibly easy to input the necessary information, submit pictures, and receive bids on your custom job.”
“I submitted my job requirements,” says Hunn, “and within 24 hours I had four bids. I was able to easily peruse the bids and select the vendor that most closely matched my criteria. It saved me quite a bit of time not to have to send this info to multiple vendors and scroll over emails to collate all the information. With any new program there is a learning curve on both sides, but overall my experience went wonderfully smooth. I highly suggest my fellow jewelers embrace this wonderful tool that has been placed at our doorstep—free of charge. In my opinion, you would be foolish not to utilize this. Thank you RJO and VRB Internet Solutions!” “We were awarded our first job this week and everything has gone smoothly,” says Mike Hatfield of Jewel-Craft. CustomHatch is very easy to use and gives us the opportunity to quote jobs on an even
playing field with the other vendors. We have been looking for a way to push our ‘Made in the USA’ custom department, and I think this is a great way. CustomHatch is bound to streamline the process of CAD and custom pieces for stores requiring less time and effort on their part. We see this as a great opportunity to increase our custom sales and— more importantly—help bring new customers to us.”
A brief video tutorial is available for viewing here, and signing in is straightforward. First-time uses will follow these steps: • Visit RJOCustomHatch.com • Click ‘Retailer’ on the home screen • As a new account, click ‘Get Password’ • Enter your email address and click ‘Get New Password’ An email will be sent to your email address verifying your address and providing a link to create your password. Click the link. • Enter your new password and confirm your password. • Then enter your newly created login credentials and begin using the system.
Once users have logged into the system for the first time, they will be able to use the shortcut login section at the top right of the page.
“CustomHatch was developed using secure email addresses we have on file for your store,” says Streb. “Should another owner, manager, or employee need access to the site, we ask members to please contact the office so we can set up the secure account.” Streb also notes that if members have any difficulties logging in, they should call the RJO Main Office at: (800) 247-1774 or send an email to: rjo@rjomembers.com.
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Vendor Profile
KIM: American values … integrity, service and respect
MIKE KIM, President of Kim International Manufacturing (KIM), is proud to head up a family-owned business, and he finds that sense of family an attractive quality of RJO, as well.
“We have found RJO members are a closely knit community who rely on each other to share information, offer support, and give advice,” says Kim. “RJO builds loyalty to vendors, and we appreciate the relationships we have developed with them. The RJO model is ideal for both supplier and retailer. As a vendor we are guaranteed payment from RJO, and alternatively, buyers get a discount through RJO vendors. It is a win-win situation for everyone. The RJO Buying Shows are a great place to network, as well as enjoy events, expand your education, and preview new trends.”
Based in Dallas, TX, KIM was founded in 1975 by Mike’s father, B.K. Kim. Dedicated to serving the independent jeweler, the company is still owned and operated by the Kim family.
hard work and dedication is what this company was founded on. We strive to sustain his legacy and offer that same dedication and service to our customers.”
KIM has three bridal brands which fill most price points for RJO retailers: the flagship Romance Bridal Collection in 18kt gold, the LaVie Diamond Bridal line in 14kt gold, and the Radiance Bridal and Fashion line in 14kt gold.
“Our bridal lines fit every bridal niche and price point a store could need,” says Kim. “Getting the most attention at the Minneapolis Buying Show was Radiance, our new and rapidly expanding line which offers a composite head design. As an example, 1/3ctw of diamonds gives the appearance of a 1ct center stone for a fraction of the cost. It offers great value and a quick turn,
with most items retailing from $1,500 to $2,999. Our design, quality and five year warranty makes Radiance a great choice.”
Kim says the company’s fashion lines also were popular, as stores prepared for the fall and holiday buying season. This included KIM’s Tesoro 14kt gold line, which features diamonds and colored gemstones in popular designs at competitive prices. KIM’s newly revamped Eleganza line is created in sterling silver with 18kt gold accents with diamonds and gemstones; most pieces retail between $79 to $499.
KIM recently launched a Custom Orders Department, focusing on rings and bands.
“KIM’s custom ring department can help you create the perfect ring for your customer,” says Kim.
“I handle daily operations of our office in Dallas,” says the younger Kim, “as well as oversee the manufacturing in our overseas factory. My sister, Aeran Kim-Park, is the Vice-President and head of the Diamond Division, which handles design and creation of our bridal and fashion lines. Although my father is retired and will turn 90 next year, he still comes to the office daily to visit with the staff and reminisce with interesting stories about his journey to America and founding his company from the back of a van, traveling from town to town. His
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“We can solve your custom ring headache with our knowledgeable staff and our own factory to produce it in. Whether it is a more custom ring or just a slight modification of our existing styles, we provide quick turnaround, great value, and the same incredible quality and workmanship you have come to expect from KIM. Our custom department can change metal type or color, change stone shapes and types, and add engraving or special finishes. Maybe your customer wants to combine aspects of different rings together—or design a truly custom piece—we can do it all. Our CAD renderings are always free, and we provide you with a photo-realistic drawing within 24 hours. Upon your approval, we custom make your ring in our own factory and deliver the finished piece within 2-3 weeks.”
KIM also notes all of the company’s custom rings and bands are produced using the same quality diamonds and craftsmanship as their other bridal collections, and all KIM custom rings carry a lifetime warranty.
In addition to the manufacturing service the company offers RJO members, Kim says he’s proud of the work of their direct sales representatives, as well. KIM’s Bill Harrison was awarded the RJO Sales Rep of the Year award at last month’s Buying Show.
“Bill is very deserving of the award,” says Kim, “and we are proud to have him as our regional representative for the Southern and Southeastern regions. What makes Bill special is he never over-promises or under-delivers. He is genuine and always has the best interest of the customer in mind. He brings years of experience and
enthusiasm to his job and develops lasting friendships and business relationships that make him a valued member of our KIM team.”
Although its home office is in Dallas, KIM owns its own factory in China.
“We are not an importer, but a manufacturer who carefully crafts all our jewelry,” explains Kim. “Having our own design staff and manufacturing facility allows us to control the process from concept to completion. That is why we can offer such quick turnaround on our custom jobs, as well as ensuring the quality of all our product.”
”As a member of the Responsible Jewellery Council (RJC), we commit to operating our business in accordance with the RJC Code of Practices,” Kim continues. ”KIM adheres to integrating ethical, human rights, social, and environmental considerations into our day-to-day operations, business planning activities, and decision-making processes. KIM is fully committed to sourcing only ethically obtained and conflict-free diamonds and metals. Our factory performs a two-stage test of our diamonds to ensure no lab-grown diamonds enter the workflow. All diamonds are tested when they are received and tested again when the finished piece of jewelry is ready to be shipped. Since we source our materials and manufacture our product, you can be assured of the quality and integrity of every item.” Kim International Manufacturing (KIM) is located at 14840 Landmark Blvd., Dallas, TX. Phone: (800) 275-5555 Websites: www.kimint.com, www.lovemyromance.com
PLAN NOW FOR OUR NEXT BUYING SHOW! January 2019 Nashville, TN
Future Show Locations July 2019 • Schaumburg, IL January 2020 • Houston, TX July 2020 • St. Louis, MO January 2021 • Palm Springs, CA July 18 2021 • Cincinnati, OH
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Save time and money when shipping jewelry SHIPPING JEWELRY HAS LONG BEEN a source of frustration in the industry. Consider how much time you spend shipping jewelry in a week and the costs associated. Here are a few tips to help you save time when shipping
Even if it doesn’t seem like you spend much time at first, consider all the steps it takes to successfully complete a single shipment: • Looking up the shipping address for sending to • Selecting packaging options to get a quote • Comparing quotes across carriers for the best rates • Verifying your insurance • Preparing the merchandise to ship safely
This is just a small sample of every day procedures most jewelers go through, but your business may have additional checks and balances to guarantee shipments arrive on time, on budget, and securely.
Add it all up and a single package could take up to an hour to send off. You can cut that down to only a few minutes by using an online platform that automates parts of the process for you.
Online platforms and software have probably made your business more productive in many other facets like managing your inventory, transacting at the point of sale, and communicating with your customers. Now it’s time to become more productive at shipping jewelry.
Before you ship your next package, think about how a platform like
JM Shipping Solution™ can put time back on your calendar with the following features.
• Keep an address book of common destinations
Chances are if you’re going to send jewelry to a customer or client, you’ll probably ship to them again in the future. Why would anyone waste a couple minutes looking up and entering their address to get a quote every time you ship something to them?
JM Shipping Solution lets you save each address you ship to so you can easily reference again and again. Plus, it validates addresses for you. That way you’ll know the destination you intend to ship to is in fact a valid address.
• Save your shipping preferences
Much like sending to the same address multiple times, you probably use similar carriers, service types, and packaging options when you ship to them. Unlike entering a street, city, state, zip code, your shipping preferences are probably much more complex.
Repeating these details for every shipment gets especially burdensome, but pre-defining these preferences for different scenarios can turn a 10-minute process into a 10-second process. You could save yourself hours over the course of a month, let alone a week!
Now you can use all your extra time to research different options to see if there are better rates if you change parts of your shipping process. The great part about JM
Shipping Solution is saving these preferences gives you the flexibility to change without disruption.
• Compare shipping options and costs in one place
Now that you’ve saved your addresses and set your preferences for shipment details, it’s time to choose a quote. Finding one that fits your needs and budget can involve searching in many different places, taking notes by hand, and then comparing your notes only to find prices have changed or options are now unavailable. This is often the most timeconsuming shipping activity. Thankfully, JM Shipping Solution brings the same concept of booking travel online to shipping jewelry. You can easily tweak your shipment details and quickly see how those changes impact prices across the board. The best option when you started may now be less attractive after you start altering things like your delivery date or the size of your package. Cost saving tip: Did you know carriers upcharge for an “adult” signature service? Keep this in mind if you are shipping to a business location as the chances of a minor working at a business are slim. The exception to this rule is if you are sending to a residential address, such as a consumer or home-based business. Then, it’s better to require an adult signature and pay the upcharge.
• Track your packages
After your package has been shipped, the last thing you want
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to do is spend extra time chasing it down and worrying if it has been lost or stolen. If you thought choosing a quote was a lengthy process, this is definitely not something you want to experience.
If you’re shipping with different carriers and not using a platform like JM Shipping Solution, it can be frustrating trying to locate the details of how multiple shipments are progressing toward their different destinations.
The advantage of using the platform explained here is you can track packages out with multiple carriers using a single dashboard and view your shipment history in the same way. Plus, if something were to happen to the shipment, JM
Shipping Solution can be used to file a claim.
• Manage return shipments wisely
Suppose you’ve managed to send your package quickly and ensure it arrived safe and sound only to have your customer or client want to return it.
Now you have to rely on another party to coordinate logistics, which is not only time-consuming and potentially more expensive, but also extremely frustrating.
There’s a better way than working out details after the fact - JM Shipping Solution allows you to create a return label for the other party involved and you can change the shipping options by carrier, service type, and other details like insurance. You control
all of these details and won’t be charged until the other party prints the label you have designated.
If you‘re tired of spending too much time and money shipping, sign up for JM Shipping Solution today. It’s free to get started and you won’t be required to meet any quotas to use the platform. Visit our blog to find more tips on how to cut costs when shipping.
To learn more about streamlining your shipping needs, including tracking and package insurance, call your Jewelers Mutual agent.
Brand yourself as your customers’ connection to overseas treasures
RJO’S ANNUAL OVERSEAS BRANDING TRIP provides vital education to you and your stores’ sales staff to make sure customers know where to go for a direct connection to overseas diamond and colored-gemstone cutters.
The trip includes a Trainer’s Guide and Notes, an extensive PowerPoint presentation, and an associates training notebook. This year RJO is also excited to announce two new initiatives. Vendor education modules designed to help train your sales staff and provide valuable selling tips from each overseas vendor, and partnerships with select custom vendors to help build and promote custom
design both pre- and post-trip.
To learn more about this annual RJO-hosted trip, which is a great opportunity that has shown a great return on investment for your fellow RJO member stores, contact RJO trip coordinator Connie Matsen (at right—with husband Steve—at the Winter Buying Show in Savannah) at: cmatsen@rjomembers.com.
Be Sure to Mark Your Calendars for Antwerp/Idar-Oberstein in October 2018
2018 Dates
First Europe Trip Hosted by Liz Schlauch & Jeff Horlacher Antwerp: October 6-11 Idar-Oberstein: October 11-15
Second Europe Trip Hosted by Connie & Steve Matsen Antwerp: October 13-18
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Selling jewelry by befriending Millennials THERE WAS AN INTERESTING ARTICLE in the June 20th Wall Street Journal about Millennials and their thoughts on purchasing jewelry. Millennials are for sure a different animal, and they need to be addressed and treated differently. As the father of two Millennials, I can attest to those differences.
I like to refer to this group as the “I deserve it.” generation. They are full of self-confidence and possess a solid helping (or two) of selfworth. Years of participation medals and ribbons have confirmed their specialness!
That being said, they have money and do not mind spending it on themselves. They marry later, buy homes later, and have kids later. Many times they spend their money on luxury items with brand names and strong reputations. They also do a lot of online research before they buy. They don’t watch; they stream. Social media is like a second home for them, and it is critical to their day. They spend time less and less on Facebook, but Twitter, Instagram, SnapChat—and all of those other places that soak up oodles of time—are still key to their communications.
They will want to see unique opportunities with their jewelry, whether it is a day-to-day piece like earrings, an investment in an engagement ring, or simply rewarding themselves with a fine timepiece. They are not looking for the same old thing their parents have. They embrace words like “funky” and “eclectic.”
So how do you infiltrate this group and become their go-to resource
for jewelry now, as well as in the future? I’ve got a few ideas which I feel can help you get down that road quite a ways.
Establish a foothold! You need to be on their radar. Even if it is just a little top-of-mind awareness, that will help.
Go social Take a few steps into social media, if you are not there already. You will need help doing this well. If you are not going to make the modest investment to do it well, you should not do it at all. Find out who in your community is good at social media and can help you. Traditional local media have people, but they will most likely be more costly. Twitter might be a nice place to start to get the word out. Be sure your account looks professional, but have fun.
Invite them in Have a modest-sized (less than 20) group into your store for an afterhours open house. Is there a young professionals group in your community? That would be a great place to start. Cheese and craft beers go a long way to gaining an in with this group. Do not try to sell them anything; simply provide a welcoming environment and answer questions. Encourage them to post pictures of the event on their social media.
A further outreach might be to find a different group, and do the same type of thing. Look at breakfast groups, chamber associations, men’s groups, women’s groups—they would all love to be “courted.” Keep focused on the younger members of those groups. They represent the future of your business.
Everyone wants to do business with a friend or someone they trust. Your efforts along these lines will help you become both to what could represent a whole new group of customers.
If the events are successful and fun, make it a monthly or quarterly effort. As you move deeper into this group, it will likely expand as they send friends to you. Set up private meetings before and after work with this group to show them pieces they might love. Ask them to sketch a ring, and see if you can create it or something close.
Between the original group—and any subsequent groups that are added—your business name will start growing, as will the awareness of what you do and how. Eventually your revenue lines will begin to reflect this new energy you are creating. Whether they do business with you now or in a few years when they marry and start having kids, you are their friend, and they trust you. Both of those go a long way with any group of customers, but especially the Millennials.
Good luck with these efforts ... and don’t forget to have fun.
Michael C. Woody is President and Chief Idea Officer of Capital Ideas, an advertising and marketing firm. He has been in the advertising and marketing industry for more than 30 years. Phone: (515) 556-5373. E-mail: MichaelC@ideas2burn.com Website: www.ideas2burn.com
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July 14-16, 2018 Minneapolis, MN
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Continued on next page
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( Click on the photos below to have larger versions pop up in a new window )
Photos: Steve Matsen
Purchase Voucher Frenzy!
(Note: Multiple vouchers were available from these vendors and multiple stores won more than one voucher)
Winners Andrew Grant Diamond Center Becker Jewelers Bowers Jewelers Buskala Jewelry Cameo Jewelers Cornerstone Jewelry Danwerke Jewelers DBK Family Jewelers Elliott Jewelers Ellis Jewelers Gregory Filo Jewelry
Haywood Jewelers Herteen & Stocker Jewelers Horlacher Jewelers Jayson Jewelers Jewelers Workshop K E Butler Jewelers Krueger Jewelers Marks of Design Nelson Jewelry Ruby & Sons Jewelers Sturhahn Jewelers York Jewelry
Vendors A Neal Originals, Inc. B & B Jewelry (Sandra Biachi) BELLARRI Berco Jewelry Company Color Merchants/Brevani Concepts Earrings & Jewelry Promotions Darling Imports Dia Expressions Diamond Emotions Frederick Goldman, Inc. Heera Moti
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Italgem Mercury Ring (Div of Kiran USA) Nice Diamonds OďŹƒcina Bernardi Oro International RJO, Inc. T R Jewelry Concepts Tavannes Watch Tokio Marine/Jeweler Promotions.com Wilkerson Y.C.H. Inc.
LIFETIME ACHIEVEMENT AWARD Ron Gilbert Gilbert Jewelers
RJO Award Winners 11TH ANNUAL ANTWERP PROMOTION AWARD Sponsored by Schurhammer Mfg. (Steve Shurhammer above)
Jeana Gilbert-McBride, Daniel Lee (not pictured) Gilbert Jewelers
VENDORS OF THE YEAR
Loose Goods: RDI Diamonds
Finished Goods (tie): Ostbye
Service/Specialty Products: Jewelers Mutual Insurance
Clock/Watch: Citizen Watch Co.
VENDORS OF THE YEAR
Finished Goods (tie): Allison Kaufman
SALES REP OF THE YEAR
Bill Harrison KIM International
The RJO Foundation held a 50/50 RockStar Raffle in Minneapolis, and the winner as Mike Pribyl of Cahill-Pribyl Jewelers. Mike donated his 50 percent portion of the winnings back to the RJO Foundation, for a Foundation donation total of $3,220 from the RockStar Raffle.
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Jeweler Profile
Huntington Fine Jewelers: Oklahoma's Premier Jeweler
MARKETING CONSULTANTS often include an in-store event or trunk show on their list of initiatives for retail jewelers, and many stores do hold these events. Sometimes several a year. In Oklahoma, Huntington Fine Jewelers takes this idea up a notch.
“We LOVE events,” says Lauren Clawson, the stores’ Advertising and Marketing Executive. “We strive to have at least one event each and every month, sometimes having multiple events and trunk shows during a single month. Business owners, vendors, and customers alike have all asked us what our secret to success is, and we always have the same answer: Events!”
“Our Advertising and Event Coordination team diligently works to ensure each event is different than the one before,” Clawson continues. “The team is continuously looking for new and exciting ideas that speak to different target audiences, to ensure no one-part of our customer base is fatigued. Radio, direct mailers, billboards, social media, and emails all work fantastic when brought together in the right way. We take a holistic approach to reach current and new customers alike, by blending several types of advertising, while targeting the specific audience we want to reach.”
The approach must work, as Huntington Fine Jewelers is a jewelry store that has been a fixture of the Oklahoma City area for more than 31 years. Continuously family-owned and operated, Clawson says Huntington
Fine Jewelers has strived to bring the finest jewelry to the men and women of their community. The owners are Lantz and Lisa Smith
“For more than three decades, Huntington Jewelers has been building friendships with satisfied customers as they’ve built their business,” says Clawson, “bringing a new generation into the store’s ongoing legacy as the Smith’s children have grown up and entered the trade. Huntington Jewelers has grown as well, expanding into a 4,500-square-foot treasure trove of breathtaking beauty in Oklahoma City, as well as opening the doors to their second location in the beautiful community of Shawnee just this year. Huntington’s success and growth have been based on providing a personal experience while offering excellent value on pieces of impeccable quality.”
Clawson says they enjoy being part of RJO and the family of independent jewelers.
“We have the freedom to create our own goals and surpass them,” she says. “There is no limit to our success, and we are striving daily to become innovators in the jewelry industry while providing each guest with a personalized experience.”
That experience includes being greeted by a smiling team member knowledgeable about—and with a love of—fine jewelry.
“Customers are invited to take advantage of our many white-glove services,” says Clawson, “including appraisals completed in-house by
GIA certified gemologists, jewelry and watch repairs, engraving, and a full custom design center. While Huntington Jewelers is known to be ‘Oklahoma’s Premier Jeweler,’ we are fundamentally a place where you can find something beautiful to create a special oneof-a-kind moment for any occasion.” Taking care of customers extends to potential customers across the state, as well.
“This last Christmas, Huntington Fine Jewelers donated $5.2 million to educators and support staff across the state of Oklahoma—to over 584 schools,” says Clawson. “We partnered with a few other local businesses to create a holiday gift for our educators, to remind them they are an important part of our community and how much Huntington Jewelers appreciates all they do for the children of Oklahoma. Each educator, administrator, cafeteria worker, bus driver, and every other support staff member received a $100 no-strings-attached gift card to our store to treat themselves. In addition to our gift cards, these educators received gift cards to other businesses as well. Lantz and Lisa hold a special place in their hearts for our community’s educators and were beyond excited to jumpstart this special project.” Huntington Fine Jewelers has two locations: 10633 S. Western in Oklahoma City, OK and 4006 N. Kickapoo in Shawnee, OK Phone: (405) 590-1418 Websites: www.HFJOKC.com www.HFJShawnee.com
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Cover Story
The Ins and Outs of Discounting
IT’S EASY TO SEE WHY CONSUMERS GET HOOKED on discounting. Research by Justin Gunn, found that discount pricing is the most popular pricing strategy, used by 99 percent of retailers. This figure is not an exaggeration, writes Gunn, “retailers across sectors responded with high praise for the effectiveness of discount pricing. Here are the percentages of retailers claiming that discount pricing is “very effective” or “extremely effective:“
• 57 percent of e-commerce retailers
• 67 percent of specialty retailers
• 75 percent of general retailers
• 87 percent of grocery retailers
If these figures are accurate, it would appear about two-thirds of jewelers enlist discounting as an effective marketing tool. Discounting manifests itself in many ways in the retail jewelry world: - Sales staff pressured to close more sales may feel compelled to discount on the spot.
- Marketing strategies suggest discounting through sales will surely bring in more customers. - Accounting may tell you the old inventory has to get off the books.
In a small jewelry store, it’s possible that one person is the sales staff, marketer and accountant, but according to Becka Johnson Kibby, G.G.,
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Ten Tips for Running Sales Without Killing Your Profits
Define your objectives Blindly implementing discounts is one of the biggest mistakes you can make as a retailer. Before running a sale or offering a hot new promo, see to it that you have a clearly defined purpose for doing so.
Segment shoppers and tailor offers accordingly Creating discounts or offers based on different customers’ preferences or purchase histories can greatly increase conversions. Take the time to segment your customer base so you can market and sell to them accordingly.
Make sure the timing is right When it comes to discounts and offers, timing can be just as important as relevance. Sending out deals at just the right time (i.e. when customers need them) will greatly increase your conversion rates.
Be mindful of your margins To ensure you don’t give away too much or end up losing money with your discounts, set an “acceptable range of margin” for your products.
Implement psychological pricing Another way to offer deals without giving away too much or hurting your brand is to implement creative pricing and discount strategies.
Test different discounting tactics The right discount method will vary, depending on your business, products, and customers. The best way to figure it all out? Implement various tactics and see what works best.
Run conditional promotions A good way to protect your margins while implementing discounts is to set conditions. Rather than running blanket promotions, set certain limits or conditions that customers have to meet before they can redeem the offer.
Put the spotlight on new items first Some retailers have found that by running fewer sale events, they started moving their sale items to the back of the store, to increase sales for their fashionable, full priced products at the front.
Promote impulse buys, up-selling and cross-selling Discounts can drive more people to your store, so take advantage of the increase in foot traffic, by up-selling or cross-selling. Encourage your associates to suggest products or upgrades to customers shopping around in your store.
Director of Operations, Edge Retail Academy, “No matter the rationale or the size of the store, when you discount, your gross profit is negatively affected.” Kibby presented a seminar at the most recent Buying Show in Minneapolis, entitled, “Train Your Staff to Sell at Maximum Profits.”
According to Sherry Smith, a colleague of Kibby’s at Edge, “There are a lot of reasons that go into jewelers discounting, and the first thing to understand is, they had the product priced at whatever their retail price is, but they sold it for less.” Typical reasons to discount would be: - a sale - moving an aged item - store allows sales people to use discounting as a close - store marks their retail prices up higher than they should so it looks like customer is getting a discount - salespeople haven’t been trained • or had discounting conversations • or to add value instead of jumping to discounts • or to offer a smaller discount
“There are proven ways to help slow down and lessen discounting.” says Kibby, “During my presentation, I walk through a typical sale—from the beginning—and pointing out what steps can be taken to insure maximum profitability. While many RJO members may wish to do things the way they have always done them, many are not getting the desired result.” Kibby says most stores can make simple changes to increase their sales and profitability.
“The first question retail jewelers should be asking themselves,” she says, “is ‘What do my customers want?’” Next, says Kibby, once they know what their customers want, retailers need to set the sale up to create the relationship, ask questions, show jewelry options pepper in the store’s benefits and present a store experience they aren’t getting other places.
Offer discounts to select consumer groups Consider offering exclusive discounts to specific groups of consumers (ex. students, military, senior citizens etc.). This strategy allows retailers to leverage discounts without hurting their margins or being defined as a discount brand. - VendHQ, July 2018
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- First Insight, Inc., 2017
Cover Story This begins upon the first interaction with the customer. By focusing on the customer—it’s all about them—jewelry sales should start with creating a comfortable environment, one in which conversation is casual and you’ve discovered just enough information to build a rapport and create a chemistry. Kibby says this interaction should be enjoyable for the customer and fun for both parties. Once you’ve got some communication going, “it’s show time.” Kibby is a firm believer in using Romance (with a capital R) to create a jewelry buying experience for the customer. “Once you find out the customer is in your store due to a special occasion, it’s your job to fuel your client’s excitement. By ‘romancing the occasion,’ you can make it even more joyful for the customer, making their visit an experience, not just a shopping trip to buy a piece of jewelry.” Kibby acknowledges the wisdom of an anonymous quote she cites during her seminars: “A sale is not something you pursue, it is something that happens to you while you are immersed in serving your customer.” Once these steps are in place, jewelers need to review discounting strategies to determine which ones—if necessary—will work best, for both the store and the sale. During this review, Kibby says it’s important to remember that customers often are not paying your price because the price is too high, but rather they perceive the value too low. In addition to the fact that low pricing is not a sustainable competitive advantage (See “Gap is doubling down on one of retail’s deadliest mistake.”) but many companies don’t discount and yet still thrive, including Starbuck’s, Carmax, and the world’s largest retailer, Apple.
Finally, stores need to establish an action plan once a customer asks for a discount, because it means they are interested in buying the item. An effective action plan can comprise 10 steps, as offered by Kibby:
1) Explain that the item is not priced for discounting.
2) Go back and explain again the item’s features and benefits.
3) Offer an alternative or incentive; provide twothree options if possible.
4) Ask some pointed questions to better understand the request for a discount.
5) Continue to withhold offering a discount.
6) Never offer a discount in regular percentages or flat dollar amounts.
7) Step away politely, and take some time to brainstorm your path forward. 8) Keep calculators, phones and other sales devices out of the sales environment.
9) Negotiate by letting the customer give something up.
10) Don’t engage in discounting because the customer wants a fast sale.
Kibby is a strong believer in developing a solid strategy to reduce or lessen discounting.
“If RJO members would like to discuss discounting further, or would like help developing an action plan or other strategies, I encourage them to contact me at Edge Retail Academy.” The Edge Retail Academy. Phone: (714) 925-2456 Email: becka@edgeretailacademy.com
Reading List
Markdown Mania: Consumer Perspectives on Retail Discounting Strategies First Insight, Inc., 2017
Analysis: Is it time for a discounting detox? Retail Week, January 2018
Gap is doubling down on one of retail’s deadliest mistakes Business Insider, May 2018 The Top Retail Pricing Strategies For Your Business Blog, Justin Gunn June 2018
How to Discount in Retail: 10 Tips for Running Sales Without Killing Your Profits VendHQ, July 2018
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MILESTONE
Marjorie Ann Pribyl, retired founder of Cahill Pribyl Jewelry & Gifts in Keokuk, IA, died on Friday, June 8, 2018. She was 89. With her husband, Hugh, they started Pribyl’s Jewelry in 1952. In 1969 they bought Cahills Jewelry and—after a fire in 1985—rebuilt and changed the name to Cahill Pribyl Jewelry & Gifts. She retired in 1991. Our thoughts go out to the Pribyl family.
CALENDAR August 2018
23 All invoices must be received in RJO Office
September 2018
3 Labor Day — RJO Office closed 9 Grandparents Day
10 All payments must be received in RJO Office 21 All invoices must be received in RJO Office
NEW MEMBERS
Comfort and Son Jewelers Adam and Mike Comfort Vestal, NY
Referred by Rochelle Levine Kliger, Ruby and Sons, Endwell, NY
Gholson Originals Fine Jewelry Bobby and Sissi Gholson Waco, TX
Referred by Fred Hornshuh, Carlson Brothers Jewelry, Tacoma, WA
Little Treasury Jewelers Linda and Steve Hammalian Gambrills, MD
Referred by Aubre Ford, RDI Diamonds, Rochester, NY
Milano Jewelers Carol Garcia Pembroke Pines, FL
Referred by Stacey Eichorn Stauch, Crew’s Jewelry, Grandview, MO
RN Jewelers Ulises Garcia Margate, FL
Referred by Stacey Eichorn Stauch, Crew’s Jewelry, Grandview, MO
Todd’s Jewelry Repair and Design Jeannie and Todd Ratliff Christiansburg, VA
Referred by Tim Hiatt, Ellis Jewelers, Lexington, NC
Turner’s Jewelers, Inc Mark and Elaine Turner Seneca, SC
Referred by Thomas Hill Jewelers, ARRK, Bergenfield, NJ, and Hadley Roma, Roma Designs, Largo, FL
Thank you to the jewelers referring new members to our group. These jewelers will receive a $1,000 finder’s fee for their referral, payable after a new member has been in good standing for at least six months.
MARK YOUR CALENDAR TODAY!
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