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Deutsche Bank to pay $60 million to settle US gold price-fixing case

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Deutsche Bank has agreed to pay $60 million to settle private U.S. antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense.

The preliminary settlement was filed on Friday with the U.S. District Court in Manhattan, and requires a judge's approval.

Deutsche Bank denied wrongdoing. The bank in October agreed to pay $38 million to settle similar litigation over alleged silver price manipulation.


Can a solid returns policy make or break a luxury goods sale?

Think back to the last time you shopped online. What were some of the factors you took into consideration before putting an item in your cart and hitting the checkout button? Product reviews, maybe? Discounts or promotions? Free shipping, perhaps? And, if you’re like me, you looked for an easy and hassle-free returns process.

IGI featured on National Public Radio

Institute executive provides insight for consumers on lab-grown diamonds

(NEW YORK) - A hot topic in the news of late, National Public Radio (NPR) recently tapped IGI for its independent expert assessment of the lab-grown diamond development landscape. Along with other highly respected industry advocates, IGI Executive Director David Weinstein was featured on last week’s segment, titled “Lab-Grown Diamonds Come into Their Own,” which spotlights Weinstein’s view on the history and progression of lab-grown diamonds.

Police searching for man who stole $1.6 million bucket of gold

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The New York City police are looking for a quick-thinking thief who stole an 86-pound bucket of gold flakes worth nearly $1.6 million off an armored truck in Manhattan.

The unidentified thief swiped the 5-gallon metal bucket off the back of the vehicle on September 29 when a guard briefly went to the truck's cab, reportedly to retrieve his cellphone.

The incident occurred in broad daylight on West 48th Street in Midtown Manhattan.

The armored truck was making a pickup in front of 48 West 48th street between Fifth and Sixth avenues. The police say the suspect most likely didn't know what the bucket contained.

National Jeweler publishes “State of the Majors”

Report returns for the first time since 2012

(NEW YORK) - National Jeweler has released the “State of the Majors,” a report which analyzes the performance of the country’s largest jewelers and the state of jewelry retailing today. The release of this once-annual report marks the first time National Jeweler has published editorial content in print since 2010.

The SJG Smart Business Report - Protecting your domain name

Sponsored content from Southern Jewelers Guild

“Customer experience is the next competitive battleground. It’s where business is going to be won or lost.” ~ Tom Knighton

Like it or not, the holiday season is upon us once again. You’ve had your store decorated for weeks, your holiday marketing strategy has already rolled out, and yet, despite the best laid plans, you aren’t seeing the traffic you had hoped to draw from Black Friday and Small Business Saturday.

If your customer count is feeling a little thin, and your year to date seasonal sales aren’t quite where you had hoped them to be, we’ve got a few last minute tips that can help you engage customers and build up your bottom line during the last few weeks of the 2016 holiday season.

#1) Marketing plans aren’t set in stone. If the marketing strategy you’ve decided to use for the holiday season isn’t giving you the returns you’d hoped for - change it up! Seasonal ad buys for radio and television may be concrete in terms of the dollar amount you’ve committed to, but media outlets want their customers to be happy. If you don’t think the ad dollars you’ve committed to local radio and television are bringing you the customer response you had hoped for, talk to your sales rep right away! Don’t be shy about asking for some special considerations, such as some extra on-air spots, or more social media promotion. Traditional media companies are losing money, and customers, by the minute, and they want you to be happy. Chances are they will be happy to work with you to help you reach your goals. A happy advertiser is a great customer, and we all want great customers!

#2) Consider hosting a last-minute holiday event, such as a trunk show or a “Stocking Stuffer” jewelry sale. These types of events can be planned with minimal effort, and if your staff is stretched to its limits, consider using a company such as TK Enterprises, Inc., to maximize your customer reach and success. I spoke with Heidi Kaufmann, who manages the events division for TK Enterprises, Inc., and asked her to share some information on how their Retail Marketing division can help with last minute holiday events. 

Heidi explained that the Retail Event Marketing division of TK Enterprises, Inc. provides a service specifically designed for jewelers who are looking to increase event traffic. TK Enterprises, Inc. places phone calls to existing customers, and personally invites them to store events. Heidi says phone calls are highly effective at delivering the message of the event to the customer, due to the fact that the TK Enterprises, Inc. callers will either speak directly with the customer or leave an enthusiastic voice mail about your upcoming event. Heidi says it’s important to remember your in-store holiday event can not only serve as encouragement for your customers to purchase their gifts, but also as an opportunity for them to do a little holiday shopping for themselves. Find more information on holiday party planning with TK Enterprises, Inc., online at www.tomkaufmann.com/holiday-parties-and-jewelry-go-hand-in-hand/  or contact Heidi directly at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 519-250-3955.

#3) There’s still time left to incorporate the spirit of charity and holiday giving into your 2016 seasonal sales. Now is the perfect time to establish charitable giving into your store by getting involved with the Million Key Movement. The Million Key Movement is a nationwide, causal-related jewelry program created to generate the largest ever charitable contribution to Jewelers For Children with a goal of raising over $1,000,000 as well as to spread the positive brand message of Love is the Key®. Whether love is found in family, friends, life, faith, happiness or success, Love is the Key® jewelry is meant to empower, support, and inspire us to put love in everything we do.

Vardi Company, in conjunctions with participating retailers, will donate 10% of the retail price of these specially-designed jewelry pieces to Jewelers For Children. Please join the Vardi Company this holiday season and make a meaningful impact on the lives of children in need and help spread happiness and love all around! You can find more information on the Million Key Movement online now at www.millionkeymovement.com/.

And last, but not least, if you find yourself with a few minutes to spare during the next few weeks, I’d like to encourage you to participate in a quick survey for one of our Southern Jewelers Guild partners, 1 Step Technologies. 1 Step Technologies is seeking feedback from retail jewelers about their perceptions of jewelry management software. Whether you are happy or not with your current software, do not use one or are considering, it does not matter, your feedback to the 10 questions are crucial for our market research. All responses are anonymous and confidential unless you indicate such with notes. 

The survey will take no more than 60 seconds. Please visit www.surveymonkey.com/r/YCRGLX6 and provide your insight.  Thank you, in advance, for taking the time to participate!

Have questions about the Southern Jewelers Guild or want more information about membership? I’m here to help! E-mail me at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 504-615-1191.

 

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