Welcome to GCAL’s sixth installment of links to articles, webinars, and podcasts aimed at helping us all cope with the pandemic crisis, and providing important insights to help keep us productive now, and making sure we can maximize productivity as we return. And we’re beyond thrilled to say that many of you have returned. Welcome back!
We began last week’s edition with a message about the growing importance of selling on your websites, as more and more consumers look to purchase online, in the comfort and security of their homes. Retailers around the world are acknowledging the need to step up their current and long-term e-commerce strategies are a necessity. You really have no choice. And perhaps immodestly, GCAL guaranteed certificates (not reports) provide unmatched assurance and guarantee of quality, in support of this effort.
Today we’d like to focus your attention on what many believe will be consumers’ expectations as we deal with the “new normal” for doing business in the jewelry industry With the myriad of conversations about Covid-19 protocol, PPE, vaccinations, testing… stimulus checks, unemployment, on and on and on… what consumers want… what we should all want is the simple truth. These expectations will surely carry over into shopping and buying patterns. When suppliers deliver goods to retailers, those retailers have expectations the product will be exactly what they believe it to be. When retailers deliver goods to the ultimate consumer, those consumers have those same expectations. The world’s patience has worn thin, and we all expect, no demand, the simple truth. This might be especially true with diamonds and diamond jewelry. Are the documented 4Cs accurate? Is it natural or lab grown? Does the value warrant the cost?
GCAL is proud of our reputation for providing the most accurate, consistent and reliable grading in the world. And no other lab in the world stands behind their grading…none. And we are ready when you are to train your sales teams to close more sales with that philosophy and guarantee.
Thank goodness some of you have reopened your business, while others of us continue to anxiously await the thumbs up from our governors. All of us at GCAL are looking forward to helping our retail, manufacturing and wholesale partners bring your businesses back to where they should be.
With continuing heartfelt sympathy to any of you who have lost a loved one… with hope for a speedy recovery to those who are ill… please stay safe and be well. We look forward to seeing you and working with you all again soon.
Sincerely,
The GCAL Team
See an example of the GCAL Certificate with Hearts & Arrows and 360 Video (Link)
See an example of the GCAL Lab Grown Certificate with Hearts & Arrows and 360 Video (Link)
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YOUR BUSINESS
CHECK OUT THESE ARTICLES…
Stores Stress Over How to Handle Mask-Less Customers
-MSN & WSJ
SBA Releases Paycheck Protection Program (PPP) Loan Forgiveness Application: A Deep Dive
-Forbes
J.C. Penney store closings coming: Retailer trying to avoid liquidation in Chapter 11 bankruptcy
-USA Today
Memo to Big Brands: It’s Too Soon to Write Off Insurgents
-Bain & Co.
From thinking about the next normal to making it work: What to stop, start, and accelerate
-McKinsey & Co.
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THE INDUSTRY
CHECK OUT THESE ARTICLES…
Should Jewelers Require Consumers to Wear Masks?
– JCK by Rob Bates
Apple’s retail reopening plan: Temperature checks, mandatory masks
– CNBC
10 Questions with De Beers CEO Bruce Cleaver
– National Jeweler by Michelle Graff
Back to Business Toolkit
– Jewelers of America
Maharashtra government allows designated export units of diamond and jewellery to begin their operations in Mumbai
– India Times
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WEBINARS
CHECK OUT THESE SEMINARS…
May 19 at 8 am EST
Marketing During and Post Covid 19
– hosted by DeBeers
To join, you must register by Monday, May 18th
Username: debeerspublic
Password: publicEvents!2020
May 19 at 2 pm EST
Getting Back to Work — How to Produce Marketing Content That Works
– hosted by InStore
As jewelry stores reopen, the challenge is to find ways to bring customers back through your doors. ANDREA HILL of Hill Management Group will address what it means to produce quality content, the many types of content, which parts are easy, which parts are more challenging, the tools to break through the challenges, and all the different methods for dispersing that content to bring traffic back.
May 19 at 2 pm EST
Online Actions to Drive Traffic to Your Brick & Mortar Store
– hosted by AGS
Presented by: Elle Hill, Hill & Co. Almost 80% of your POTENTIAL clients are looking for info about their next purchase online first. Whether they plan to purchase in your store or on your website, they want to learn about you and explore your product online. You are already an expert at how your brick and mortar store should look, what your clients should see when they walk in the door, how you greet them, where product is placed, what events will engage them.
May 21 at 1 pm EST
Mapping Your Business: Where to Go from Here
– hosted by MJSA
The COVID-19 crisis affected every aspect of the way we do business, from supply chains to customer outreach, and many companies are now struggling to forge a new path as they ramp back up. In this session, Andrea Hill will show how you can “map” your business, identifying value gaps to be filled and uncovering any potential legal or economic exposure, to ensure that your return to business starts off strong.
May 21 at 2 pm EST
Understanding 1k Gold & the New Jewelry Advertising World
– hosted by Jewelers of America & JVC
The new Federal Trade Commission Jewelry Guides has brought changes to how the US jewelry supply chain should advertise their products. Perhaps the most drastic change was eliminating the 10K floor for gold and the 900 PPT floor for silver. In this webinar, you will get a review of the significant changes to the Guides and how the JVC is seeing the trade adapt in the marketplace. Sara Yood from JVC will use real-life examples of advertising that have been running since the Guides were released to show what the FTC finds as deceptive conduct and how to avoid compliance issues.
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PODCASTS
CHECK OUT THESE LISTENS…
Is the Diamond Trade Prepared for Change?
-Rapaport
As diamond markets start to return, the Rapaport news team discusses prospects for the industry in the coronavirus era.
In the latest episode of the Rapaport Diamond Podcast, we discuss the extent to which things have fundamentally changed in the past two months and what that means for the trade’s future. We assess whether the industry will maintain its sense of community in the new virtual reality, how its pivot to digital will look, and some positives that the trade can take away from the coronavirus experience.
Working from Home and His Last Big Project
-InStore: Larry Rickert, Owner, Jim Kryshak Jewelers
In a wide-ranging discussion, Larry shares with Jimmy and co-host Doug Meadows how he thinks customers will change as a result of the pandemic and and also offers timely guidance to jewelry business owners on how to adjust to working from home. In fact, Larry is something of an expert on the matter — having stopped working on-site at Jim Kryshak 15 years ago.
The most important lesson Larry has learned since deciding to work remotely? Stop micro-managing and trust your people. “Since 2005, the store has continued to grow,” says Larry. “Because of the people at the store, not because of me. It actually was in spite of me. Because I wasn’t there, I couldn’t micro-manage. I broke my micro-managing tendencies and everybody did just fine.”
Reinvigorating Retail – Visual Merchandising Tips that Stimulate Sales
-Plumb Club: Pam Levine, Levine Luxury Branding
Pam Levine, Brand Experience Specialist, President of Levine Luxury Branding, presents Retail Reinvigoration- Visual merchandising tips that stimulate sales. The ultimate goal of successful and engaging product presentations is to inspire customers to touch, try on and buy. When you think of your merchandise presentations, window displays and your environment, do you consider it your “space of engagement”? Visual merchandising and retail experience are the silent sellers that express and impress your brand experience in the hearts and minds of your customers. Pam provides: pertinent questions that enable you to conduct your own store assessment, learn about silent selling techniques, design and merchandising resources and the psychology behind product arrangements that stimulate buying decisions.
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