Pricing of Diamond Jewellery at the Jewellers
Why High-Street Jewellers Charge More
Most of my readers know I enjoy the craftsmanship of a good jewellers but that I advocate online shopping. But last week I was reading an article in a professional magazine that I needed to brew on for a few days.
In a town in England was a jewellers who practices for many years. As he reached retirement age he decided to close the shop and announced a 50% discount to clear the stock.
This was the message and I could have just turn the page and continue reading the magazine. What made me ponder about it was the massive discount that jewellers was giving. In all the business books it is advised that the prices one charges must cover at least the overheads, such as rent; wages, electricity etc. or you end in a loss. If this jewellers is now having a half price sell, assuming he is not selling at cost prices, how much did he charge his loyal customers all those years? And what did they pay for? Was it his soft leathery sofas? Did he offer Champagne to a loving couple about to get engaged? And what quality of diamonds did he sell for those prices?
Now it is your turn to ponder! What do you want to pay for? And what would you like to get?
Leathery sofas and glasses of Champagne do not count as good customer services the way I see it. It is taking the extra mile to get the best quality diamond under the budget your client want to spend that counts. It is meeting them more than once to show them all the possible options. This way customers can have an objective decision that is not based on what the jeweller has in stock and wants to sell. It is getting the customer exactly what he wants without compromising.
I think you get my point. Now it’s your choice!