|Precious Metals:Data & Statistics
Choosing Wedding Bands
Jewelers can reap a windfall with weddings, considering engagement and
wedding ring sales plus gifts. But too often they focus on the engagement
ring alone, standing by while the couple choose plain wedding bands instead
of engraved or diamond versions or, worse yet, letting them slip away to
buy their wedding bands elsewhere.
"The plain ring robs you, not of margin, but of profit dollars,"
says Cap D'Amato, vice president of sales at Frederick Goldman Inc., New
York City, who spoke at last summer's JCK Show Conference in Las Vegas.
Among his suggestions:
- Put plain rings under the counter (case space is too valuable for $100
- Increase or correct your engraved wedding ring selection.
- Merchandise your engraved and platinum wedding rings separately to
give customers distinct options.
- Eliminate commissions from plain wedding rings and increase them for
- Pay a bonus when an associate sells an engraved or diamond wedding
ring at the same time as the engagement ring.
- When selling an engraved ring to the groom, suggest the bride get the
- Always show diamond wedding rings first, engraved rings second and
plain rings last.
- Demand sales training from your supplier of gold and platinum wedding
rings, everything from manufacturing to selling procedures.
Meanwhile, D'Amato offers the following factors that couples consider
when buying wedding rings, based on a survey by Frederick Goldman Inc.:
Copyright © 1999 by Bond Communications.