After months of anxiously awaiting the thumbs-up from our governors so that we could reopen our businesses and get on with our lives, now some of us are nervously awaiting a possible thumbs-down as Covid-19 continues to spread and disrupt our lives.
In previous editions of our Monday messages, we talked about re-opening plans and preparing your sales team for what was to come. How we should only be looking forward, setting new and loftier goals for ourselves and our businesses.
But what now? It sure seems like the challenges, and suggestions of how to deal with those challenges, have returned for many (or most) of us. What we needed to do a few short months ago is likely what we’ll need to do again, moving forward. Covid-19 cases are increasing in many states, and the spread seems to be inevitable with the reopening of any state.
We have been focused on creating demand and a safe re-opening plan, but now there are supply questions. India allowed diamond manufacturers to reopen, only to hear they had to be shut down again after reports of 700 new Covid cases in Surat. There are also new questions now about Hong Kong and mainland China, with intensified trade issues with the US, as well as new tensions between India and China over boundaries. It seems like the global quarantine has escalated simmering geopolitical tensions, while raising new and serious challenges for our industry. All of this results in manufacturing uncertainty, and more complications and concerns for suppliers and retailers.
At this point, as a business owner, with so much uncertainty, all you can do is focus on your business, and what you can control. We thought it was relevant to share some good advice that we have absorbed from listening to our industry colleagues….
From a podcast with Kate Peterson, Performance Concepts
- Whichever side of a decision or argument you take, be consistent
- Focus on what you can do, not what you can’t do
- Consider custom ordered masks. If nothing else, they’re a great conversation piece
- Like it or not, you must embrace the ecommerce side of your business. There will likely be consequences if you don’t
- Since crises tends to motivate change, whatever rules that might have been in place before may no longer apply
- Each member of your sales team must be more tech savvy, if they’re not already. In part it’s because this is how they’ll be communicating with many of your customers
- We need to be responsive to the customers’ new normal, not ours
- If you’re paying people while they’re remaining at home, it’s perfectly fine to tell them what to do (e.g. community assignments, or anything to keep them engaged)
- We must not remain complacent or comfortable doing the same old thing. We must rise up to the levels consumers are demanding.
JCK’s Victoria Gomelsky and Rob Bates….
- In the in store vs online purchasing, Victoria suggested ecommerce will not replace your in-store purchasing. That said however, in-store alone, without embracing ecommerce could also be a costly mistake. “The combination of human and digital is super successful, and surprisingly so for many people.”
- Rob referred to Christie’s auctioning a million dollar plus diamond online, suggesting there’s definitely a message to be considered in that
Alex Fetanat of Gemfind, when asked how consumers can trust the products they’re purchasing online, not having the benefit of touch and feel, as well as a salesperson’s expertise, suggested…
- The use of lots of visuals, including videos and images.
- Live chats will also become increasingly important.
Please continue doing all you can to keep your family and business safe. Be well. We hope to see you soon, and again on the other side.
Sincerely,
Don, Pam, & Angelo Palmieri, Steve Feldman, & 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…
From a room called fear to a room called hope: A leadership agenda for troubled times
-McKinsey & Co.
In the US, Covid-19 Concerns Grow As Cases Surge
-Bain & Co.
Five charts that track economic recovery in the U.S.
-CNBC
Can HVAC systems help prevent transmission of COVID-19?
-McKinsey & Co.
The July 15th Estimated Tax Deadline Is Here: What You Need To Know
-Forbes
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THE INDUSTRY
CHECK OUT THESE ARTICLES…
Uncertainty looms over Surat, India’s diamond hub
-Economic Times of India
India Extends Deadline for Duty-Free Reimports
– Rapaport
Updated Bible of Lab-Grown Diamonds (GCAL’s Sharrie Woodring Hand is a contributor)
-IDEX
Major Retailers Call for Mask Mandate
-National Jeweler
Customers Prefer Jewelry Stores—But Only Safe Ones
-JCK
Almost Half of Retail Jewelers Surveyed Say They’ve Had Issues Finding Merchandise
-InStore
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WEBINARS
CHECK OUT THESE SEMINARS…
July 14 at 2 PM EST
JA Retail Roundtable
– Jewelers of America
Join Jewelers of America’s Amanda Gizzi as she moderates a monthly check-in with jewelers across the country. Her panel of retailers will discuss current challenges and share ideas on how to move forward.
July 15 at 1 PM EST
A Picture Is Worth A Thousand Sales
– Rapaport
In the age of social media and digital commerce, a picture is worth a thousand likes… and shares, and even a thousand sales. Join us for a live webinar to get actionable advice and tips on how to use images and videos to sell more diamonds and jewelry.
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PODCASTS
CHECK OUT THESE LISTENS…
10 Tips To Strengthen Your Social Media
-The Plumb Club
Journalist, writer, and media personality Barbara Palumbo provides 10 Tips to help retailers strengthen their social media presence and gain traction! Barbara explains why Instagram is “The King” of social media and how a retailer’s social media should be looked upon as having an additional sales person. From consistency, to engagement, to the art of the hashtag, these insights and tips will help retailers boost their social media presence across all platforms.
Clicks & Mortar – Staying Relevant In Today’s Marketplace
-The Plumb Club
Author, retail consultant and sales-trainer Kate Peterson provides insights on how the evolution of consumer behavior has been drastically accelerated and how retailers must be innovative in order to stay relevant. She points out the shifting “information balance” between the consumer and retailer and provides tips and tools on both where and how to meet and work with this new customer in a way that will exceed their expectation and keep the retailer in the forefront of their market.
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TRAINING
CHECK OUT OUR EDUCATION…
Selling with GCAL
-GCAL Team
Energize your staff to close more sales with the help of GCAL’s many exclusive, differentiating features. Turn prospects into buyers by skillfully answering questions and explaining the Zero Tolerance, Money-Backed Guaranteed Certs. Email us to schedule a time.
Gemprint – Protection and Profit Center
– Gemprint Team
Gemprint’s rapid and secure fingerprinting system for diamonds is used by every level of our industry to protect diamond assets. Learn how Gemprint technology can be implemented in your business to do everything from streamlining inventory control… to identifying returned diamonds… to earning discounts on jewelers block insurance… to providing a true profit center.
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