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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.
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