Make Dreams Come True

December 1998

For Your Staff:Selling Diamonds

Make Dreams Come True

'Tis the season for sharing, snuggling & diamond engagement rings. Selling a diamond's romance is never more important than in December

BY DIANE WARGA-ARIAS

In this season of warm fires and close friends, a couple's hearts turn to romance, making December the overwhelming choice for "popping the question." Almost 20% of all engagement rings sold this year will be sold this month. Are you ready to help these couples have a breathtaking diamond moment?

Sales at your bridal jewelry counter are about to explode. You already know grooms-to-be will visit you in the next few days to buy a diamond for the special women in their lives. The inventory is there –now what? Maximizing the diamond engagement ring sale requires knowledge and skill. Let's look at some statistics and what they mean to you.

  • When the diamond engagement ring is bought separately from wedding bands (his, hers or both), the average price paid for the engagement ring is 20% to 40% higher.
    To maximize: Show solitaires, not sets. Go for the investment in the best diamond engagement ring, then encourage the couple to select their bands. Some retailers offer discounts when the wedding rings are bought later. Be sure to get your customer's telephone number to follow up and assure you make the second sale.
  • The average price paid for diamond engagement rings in December is 11% less than the annual average engagement ring sale.
    To maximize: Keep the focus on the long-term aspects of the purchase, help the couple look to the future and realize this is not just a holiday gift; this is their piece of forever.
  • When the woman is involved in discussions about how much to spend, the price goes down. When the woman's involvement is directed toward the diamond quality, diamond size or the style/design, the price goes up.
    To maximize: If the woman is present, keep her focused on finding the ring that matches her dreams, then concentrate on finding one in his price range. Grooms report they expect to spend more than they eventually do, so find her dream first then let him decide whether she's worth it.
  • Couples who know the 4Cs and the two-month salary guideline spend more.
    To maximize: Take the time, even during the busy holidays, to educate your customers. Explaining the 4Cs in terms of rarity takes fewer than three minutes, and it's easier than ever if you use the DPS Diamond Quality Pyramid sales tool. More than 56% of couples considering an engagement ring know the two-month guideline and most find it helpful.

Creating Memories
Keep the focus on the experience. The moment a woman receives her diamond engagement ring will live forever in her memory. You can help create that memory – you owe it to her, and to them. Take the time to find out who they are and what they are truly celebrating with their diamond.

Find the diamond that takes her breath away. Remind him the romance of the moment will be with them both forever. Encourage him to be the romantic hero, to create a memory they will both cherish. The story of how she got her ring will be told and retold, until the grandchildren and great-grandchildren have their own stories to tell. That is the power of the diamond moment. The experience of giving, receiving and wearing a beautiful diamond is what makes people want diamonds, and more diamonds.

Here's hoping your holidays hold diamond dreams!

Diane Warga-Arias is director of education for the Diamond Promotion Service. For information on DPS services and products, call (212) 210-7590.



Copyright © 1998 by Bond Communications.


 

HomeAsk the ExpertBrainstormStatsSite of the WeekConsumer Press Scan
Your Business On-LineCalendarMagazine & Site ArchivesStaffSite Map
Professional Jeweler EventsGuide to Electronic Services
Classified On-LineJA Certification Study Session

Home Ask the Expert Brainstorm Stats Site of the Week Consumer Press Scan Your Business On-Line Calendar Staff Site Map