THERETAIL JEWELER | 23 Continued to Pg 24 Use Loss Leaders to Draw in Sales Try a Fun Promotion Use Social Media to Reach Another Consumer Group Look to the Future Meet with Vendors Face to Face January is the perfect time to get rid of slow-moving items that didn’t sell well. Discount them to rock-bottom prices to get people into your store. And then entice those customers with well-merchandised displays of full-priced items. After the holiday’s consumers are likely to feel a letdown as they head back to work and open their credit card statements that reflect high balances from all of their recent spending. Put them back in a good mood with fun giveaways. Give away a free gift with purchases. Hold a drawing in the store for a prize such as a $100 gift card or a desirable product. Call it “The Perfect Gift- From Me to Me” promotion! Reward customers for being connected with social-only incentives. A discount for Facebook friends or Twitter followers may be leveraged more effectively and efficiently than printed coupons, direct mail or print ads. The new year is a time when people are ready for change. Promote how your business can help them usher in “the new.” Most people are looking to lose weight or update their look – so capture this customer by offering a jewelry wardrobe makeover party. Better yet- team up with a clothing boutique in town to add to the fun and focus on the female self-purchase customer who will be looking for new styles and looks in the New Year. When was the last time you actually spoke face to face with one of your suppliers? Though it might seem easier to simply shoot off a quick email or text message to the people who literally ‘bring you the goods,’ building personal relationships with vendors is a huge plus. It’s not only nice to get to know the people behind the merchandise but can also lead to better service from your suppliers. 04 05 06 07 08 New Year’s Solution: KIR’s 925 sterling hoops in 3 sizes and various stones. Customers will want to buy multiples! Kircollection.com $165-$220 New Year’s Solution: Samuel B’s Live, Love, Laugh, Sing & Dance cuff from the new Silver Story Collection. The prefect resolution! samuel.b.com $555.00 New Year’s Solution: PiYaRo- cutting edge silver designs for the 21st century consumer. Silver bangle with 14K solid gold and 1/4ct diamonds piyaro.com $1799.00 New Year’s Solution: Belle Etoile – offering strong design and the Retailer Solutions Program- helping to drive traffic to brick and mortar stores. belleetoilejewelry.com $325. New Year’s Solution: Bastian Inverun- focused style movement and beautiful style perfect for the female self-purchase. Bastian-inverun.com $249.