Bridal Jewelry Advanced Jewelry Sales

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Bridal Jewelry Advanced Jewelry Sales
Bridal Jewelry

   Advanced Jewelry Sales
    Diamond Council of America © 2010
Bridal Jewelry Advanced Jewelry Sales
Progress Evaluation Reminder
I   f you have not yet completed Progress Evaluation 2, please
     do so before continuing further with your coursework.

The Advanced Jewelry Sales course includes four Progress
Evaluations. They come after Lessons 2, 5, 8, and 11. Each
one has three separate components – a Learning Evaluation, a
Training Evaluation, and a Satisfaction Evaluation.

For more information about Progress Evaluations and how to
complete them, see the Education Center FAQs page.

If you have other questions or need help, please contact us. You
can use this website – just click on Help.

You can also email studenthelp@diamondcouncil.org or phone
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Bridal Jewelry Advanced Jewelry Sales
Bridal Jewelry

In This Lesson:
• Getting Specific
• Gifts of Love
• Bridal Customers
• Buying Bridal Jewelry
• Selling Engagement Rings
• Selling Wedding Jewelry
• Selling Anniversary Gifts

GETTING SPECIFIC
    In the first section of this course (Lessons 2 through 5)
you examined critical variables in advanced jewelry sales –
customers, the buying experience, branding, and dealing with
changes. These variables affect the selling process for fine
jewelry of any kind, but they come together in different ways
with different types of merchandise.
    The second section of the course (Lessons 6 through 11)
will focus on specific product categories – bridal, fashion,
men’s designs, custom work, estate jewelry, and fine watches.
Some of these are important for every jewelry retailer. Others
represent possibilities for creating specialized niches in today’s
competitive market. Even if your store doesn’t carry the cate-
gory that’s discussed in a particular lesson, you’ll find things
you can use in selling other types of merchandise.
                                                                     This section of the course starts with a
Ring photo courtesy True Romance.                                    look at bridal jewelry.
Couple photo courtesy Samuels Jewelers.

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    For each category you’ll learn:
• What it includes – the types and styles of products that are
  available and popular.
• How important the category is to most “brick-and-mortar”
  jewelry retailers, and to the industry as a whole.
• Who the typical customers are in terms of gender, age,
  income, and other significant markers.
• Factors that affect the buying process, and distinctive
  behaviors that customers exhibit.
• Special approaches and techniques you can use in
  presentations.
• Unique aspects of follow-up and clienteling.
   We’ll start this section with the category that’s most important to
most stores – bridal jewelry.

                                      Lesson Objectives
                                      When you have successfully completed
                                      this lesson, you will be able to:
                                      • Recommend choices for all types of bridal purchases.
                                      • Identify today’s engagement and anniversary customers.
                                      • Explain steps and behaviors in buying bridal jewelry.
                                      • Manage the complexities of engagement ring sales.
                                      • Increase your sales of wedding and anniversary jewelry.

                                          Editorial Note: In this lesson the terms “bride” and “groom”
                                      as well as “fiancé” and “fiancée” are often used instead of longer
                                      but more accurate constructions like “bride-to-be” or “prospec-
                                      tive groom.” This is intended to make reading easier. Such distinc-
                                      tions are important to some customers, however. So, be aware
Photo courtesy JCK.
                                      of this issue in person-to-person dealings, and be careful not to
                                      offend. If you’re in doubt about using one of the shorter forms, ask
                                      the customer if it’s okay.

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GIFTS OF LOVE
   By strict traditional definition, bridal jewelry consists of
engagement and wedding rings only. In most stores today,
however, the bridal section also holds anniversary rings, and
perhaps gifts for the bride. It’s where the inventory of unset
diamonds is kept as well.
     This lesson will expand the category’s scope to encompass
all types of jewelry that are given and received to celebrate
engagements, weddings, and anniversaries. As you’ll see, this
expanded definition includes most of the merchandise in your
showcases.
    Product-wise, the focus will be on women’s “ready to
                                                                                No matter what the form
wear.” Men’s bridal jewelry will be covered in Lesson 8, while                  or style, bridal jewelry
custom jewelry of all kinds is the subject of Lesson 9. But you                 always sends a message
can apply much of what you learn in this lesson to selling any                  of love.

jewelry that will be given as a gift of love.                                   Photo courtesy Diamond
                                                                                Promotion Service.

                                      Measures of Importance
                                           No matter how you define the category, bridal jewelry is the
Bridal                                cornerstone of American jewelry retailing. This is also true regard-
                                      less of which statistics you use to measure importance – customer
 jewelry                              numbers, market share, contribution to store revenue, or poten-
                                      tial for future growth.
   is the                             • Customer Numbers – Each year there are about 2½
cornerstone                             million marriages and 56 million anniversaries in the US.

  of American
                                        More than 80% of brides receive an engagement ring, 95% of
                                        couples exchange wedding rings, and about 10% of husbands

    jewelry                             – or more than 5½ million – give fine jewelry for their anni-
                                        versary. Thus, the bridal category is built on a solid foundation
      retailing.                        of tradition and demand.
                                      • Market Share – The bridal category accounts for more
                                        than 1/4 of the value of all fine jewelry sold nationwide. For
                                        diamond jewelry sales, engagements and anniversaries are
                                        each as big as the year-end holidays.

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• Store Revenue – Sales of just the traditional
  bridal components – engagement and wedding rings
  – generate more than 1/3 of the average American
  jewelry store’s yearly revenue. For many stores the
  contribution is over 1/2, and for some it’s nearly 100%.
• Future Growth – Bridal sales are almost certain
  to grow in the future. The Millennial generation
  will produce a steady rise in the annual number of
  weddings over the next decade. The divorce rate is also
  declining and people are living longer, which means
  more couples will be celebrating bigger anniversa-
  ries. Further potential comes from the fact that many
                                                          The Millennial generation is going to create a
  married women have never received fine jewelry for      marriage boom in coming years.
  their anniversary.

                           Engagement Rings
                               Rings have been given as tokens of love and commitment for thousands
                           of years. At different times, they’ve been made of various metals as well as
                           less durable materials like leather, wood, and even plant fiber.
                               History first records a diamond engagement ring in the 1400s. For centu-
                           ries after that, diamond engagement rings belonged mainly to royal courtship.
                           They began appearing in the US in the late 1800s, and became a mainstream
                           American tradition by the 1950s.
                               Today about 84% of US brides receive a diamond engagement ring. By
                           some estimates, diamond engagement rings account for more than 1/2 the
                           total value of the entire bridal jewelry market.

Rings have been given          When customers choose diamond engagement rings, the most important
as tokens of love and      features are usually the ring’s design and style, the center diamond’s shape
commitment for thousands
of years.                  and carat weight, the metal the ring is made from, and the ring’s price.

                           Ring Design       and    Style
                               The diamond engagement ring carries tremendous meaning, and its
                           form is iconic. As a result, the engagement ring isn’t as strongly affected by
                           fashion as other types of jewelry. However, there’s still room for distinctive-
                           ness and individuality. The basic form has also evolved over the years, and
                           new styles have been added from time to time.

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    Much of this is due to designer creativity, industry initiatives, and
shifts in consumer taste. Other changes have come from advances in
technology. Some experts also say that engagement rings are growing
more varied because of brides’ increasing influence in purchase deci-
sions.
    Most engagement rings sold today can be divided into five design
categories – diamond solitaires, solitaires with accents, three-
diamond rings, diamond cluster rings, and diamond bands.
• Diamond Solitaire – The classic diamond solitaire ring is a
  single diamond with a prong setting in a simple band of precious
  metal. This remains the most popular version of the design.                    Brides today are influencing
  Modern variations may have different setting styles – bezel or                 engagement ring designs as well
                                                                                 as purchases.
  tension, for example – but most don’t stray far from the original
  concept. For many years diamond solitaires topped the charts in
  engagement sales. They’re still purchased by customers of all
  ages, but today only about 1/3 of brides choose or receive them.

                                                     • Solitaire with Accents – Essentially a solitaire
                                                       embellished with smaller diamonds, this is now the
                                                       favorite engagement design with most age groups.
                                                       More than 1/2 of brides currently receive a diamond
                                                       solitaire with accents. There are countless variations.
                                                       In many, the center diamond is flanked by smaller
                                                       diamonds of the same or complimentary shape. Other
The diamond solitaire with accents                     styles feature clusters or short rows of melee on either
is now the favorite engagement ring
design with most age groups.
                                                       side of the center. Small diamond or colored gemstone
                                                       melee may also be set partway or completely around
                                                       the ring’s shank.
                                                     • Three-Diamond – Originally created for anniver-
                                                       saries, three-diamond jewelry made its debut in 2000.
                                                       The concept is defined by three diamonds of significant
                                                       size representing the past, present, and future of a rela-
                                                       tionship. The concept has been applied to other jewelry
                                                       forms, but the symbolism of the three-diamond ring
         Three-Diamond Rings appeal to                 appeals to many younger brides. As a result, about 1 in
         many younger brides.                          10 diamond engagement rings fall in this category.
         Photo courtesy Diamond Promotion Service.

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• Diamond Cluster – Rings with diamond clusters are a little
  more popular than three-diamond designs, and they’re chosen
  by customers of all ages. To some they have an old-fashioned                               Photo courtesy Stuller.

  charm. For customers with limited budgets, cluster rings offer
  high visual impact combined with affordable cost.

                         • Diamond Band – Band-type designs usually have one or two rows of small
                           diamonds across the top of the ring. The eternity ring, which features a complete
                           circle of diamonds, also fits in this category. Research shows that band designs
                           gain appeal as women age. This may reflect the fact that many older brides
                           are beginning second or third marriages, and want an engagement ring that’s
                           different from what they previously received.

                                      Diamond Shape          and    Weight
                                          A single diamond is the centerpiece of most engagement rings, and
                                      also the biggest factor in cost. So, its characteristics are a top concern.
                                          When questioned specifically about the diamond, most customers
                                      rate all four Cs about the same in importance. But in decisions about
                                      the ring as a whole, cut shape and carat weight stand out.
                                      • Cut Shape – The round brilliant has been the preferred cut shape
                                        and style for more than a century, and it’s still chosen by about 1/2
                                        of all brides and grooms. Another frequent pick is the marquis cut,
                                        and princess cuts have been gaining favor in recent years.
                                      • Carat Weight – Increasing carat weight is another trend in
                                        engagement ring diamonds. Currently the average range for the
                                        center diamond is about 1/2 to 1 carat. Accents may add up to
                                        another 1/2 carat or more. This usually puts the total carat weight at
                                        about 1 to 1½ carats.

                                      Ring Metal
Photo courtesy Diamond
Promotion Service.
                                          Gold has been the metal of choice for engagement rings for more
                                      than 500 years, and it continues to hold that status today. About 1/2 of
                                      all brides and grooms decide on yellow gold. But over the last decade,
                                      more and more have been choosing white gold instead.

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    The growing demand for white gold is part of a long-term
trend that includes other white metals such as platinum, and more
recently palladium. (Silver is rarely used for diamond engagement
rings.)
    One reason for the white metal trend is symbolism. The color
white is associated with purity in Western culture. White metals
also enhance the appearance of colorless and near-colorless
diamonds.
   Another factor behind white gold’s increasing popularity has
been the resurgence of platinum. Since the 1990s, platinum has
                                                                               Metals like platinum and
been promoted as the ideal metal for bridal jewelry – especially               white gold owe their
diamond engagement rings. As a result, about 1/3 of brides now                 popularity in part to the
wish for their rings to be made of platinum.                                   symbolism of their color.
                                                                               Photo courtesy A. Jaffe.
     But platinum is much more expensive than karat gold, and this
creates a price barrier for many customers. Those who can afford
it often choose platinum. Others opt for white gold as a more
affordable alternative.

The cost                           Ring Price
                                       One more engagement ring trend is increasing price. Market
    of an                          research indicates that the average cost of a diamond engagement

engagement                         ring more than doubled between 2005 and 2010. But most brides
                                   and grooms spend less than the average, while a small group spends
 ring                              more – and a few spend much more.

   more than                           In many markets, most customers shopping for engagement
                                   rings are in their 20s. They’re at an early stage in their careers and
    doubled                        have relatively low earning levels. As a result, they also have small
                                   budgets for their engagement rings.
   between                            On the other hand, engagement rings for second or third
 2005                              marriages are often much higher in cost than those for first
                                   marriages – on average, about 60% more. And “upgrade” engage-
    and                            ment rings (same wife, second ring) can be very expensive.

      2010.

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    Other Engagement Gems

    M   ost engagement rings feature “white” (colorless or near-colorless) diamonds of nat-
        ural origin. But those aren’t the only possibilities. Some customers choose colored
    gemstones, fancy color diamonds, synthetic diamonds, or even diamond
    simulants.

                           • Colored Gemstones – Although diamonds are now the
                             “standard,” colored gemstones have always had a place
                             in engagement rings. Today about 5% of brides receive
                             a ring in which a colored gem is central. Many diamond
                             engagement rings also have gemstone accents.

    • Fancy Color Diamonds – In 2002 actor Ben Affleck
      started an instant trend when he gave actress-singer
      Jennifer Lopez an engagement ring set with a 6-carat pink
      diamond. While few customers can afford rare natural
      colors like pink or blue, a growing number are opting for
      affordable yellows and browns. Treatments put even the
      rarest hues within reach of many pocketbooks.

                               • Synthetic Diamonds – Synthetic diamonds didn’t
                                 appear on the jewelry market until the 1990s. But they’ve
                                 already found a niche in engagement rings. Since most
                                 synthetics are fancy colors, they’re part of the trend
                                 toward colored diamonds. However, “white” synthetics
                                 are becoming more available too. As synthetics become
                                 more plentiful and familiar, their share of the market is
                                 almost certain to grow.

    • Diamond Simulants – Few couples pick CZ or
      another diamond simulant as a permanent choice
      for their engagement ring. But some do this for a
      “placeholder” ring. The meaning and emotion can be
      just as great as with a real diamond. A placeholder
      purchase also represents the potential for an upgrade at
      some time in the future.

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Wedding Rings
   A wedding symbolizes the union of two lives, and for most
couples the exchange of rings is a focal point of the ceremony.
Wedding rings are typically worn by both partners in the                Wedding
marriage. Besides love, they usually denote a legal commitment
and perhaps a religious or spiritual bond as well.                        rings often
    For many people, this multiple function gives wedding rings          denote
even greater symbolism than engagement rings. It also makes
them even more resistant to style variations and the influence of       a spiritual
fashion.                                                                      bond.
    Nevertheless, customers do have choices when it comes to
wedding ring designs, gems, and metals. Matching is another
variable.
                                 • Designs – Wedding rings range from narrow rings to wide
                                   bands, and from plain metal circles to richly carved, gem-orna-
                                   mented creations. Younger brides tend to prefer fancier rings, but
                                   the choice really depends on personal taste and budget. In many
                                   cases, simple rings are eventually upgraded to more expensive
                                   designs.
                                 • Gems – Some bride’s rings are made only of metal, but most
                                   feature gems of some kind. Almost 3/4 are set with diamonds.
                                   Other possibilities include colored gems, fancy color diamonds,
                                   and synthetic diamonds.
                                 • Metals – Most brides opt for gold, but many prefer white gold
                                   even if their engagement ring is made of yellow gold. Platinum
                                   is favored by many brides, and palladium is a newcomer that’s
                                   gaining an audience.
                                    • Matching – Most brides and grooms purchase their wedding
                                      rings separately. The rings are usually selected on the basis of
Many younger brides prefer fancy
                                      personal preference and budget. They don’t have to match each
wedding rings like these white gold   other or the bride’s engagement ring. But matching is an option.
and diamond designs featuring         The most frequent choice is a wedding duo – a wedding ring that
elaborate openwork.
                                      matches the engagement ring. Another possibility is the trio – two
Photo courtesy Samuels Jewelers.      wedding rings that coordinate with the design of the engagement
                                      ring. Some couples decide on wedding rings that match each other
                                      but not the bride’s engagement ring.

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     Additional Wedding Jewelry

     I   n addition to the proposal and ceremony, a wedding can produce smaller occasions,
         settings, or circumstances that are appropriate for giving and receiving jewelry.
        Many couples exchange gifts the night before the wedding, the morning of the event,
     or after the festivities are over. Jewelry is a frequent choice for this intimate moment
     – especially the groom’s gift to the bride.
         In the weeks before or after the Big Day, the bride is likely to receive gifts – perhaps
     including jewelry – from her parents, other family members, in-laws, or friends. She may
     also give jewelry to her bridesmaids.
         Along the way, the bride might treat herself to jewelry too. Maybe she’ll do this to
     accessorize her wedding dress or an outfit she’ll wear to other functions. Or perhaps it
     will be part of a personal celebration of her life and the wonderful thing that’s happen-
     ing in it.

                                Anniversary Jewelry
                                    An anniversary is the day each year when two married or mutually
                                committed people celebrate the life and special relationship they share.
                                Apart from engagements and weddings, anniversaries are among the
                                three favorite occasions for giving and receiving fine jewelry. (The other
                                two are birthdays and the year-end holidays.)
                                   The potential selection for anniversary gifts includes diamond rings
                                and other types of diamond jewelry – plus almost everything else in
                                your showcases.

              Photo courtesy
                                Diamond Rings
              Kwait Diamonds.
                                    Diamond jewelry is the most popular choice for anniversaries – and
                                rings are the very top picks. These include upgrades and enhance-
                                ments, anniversary rings, rings with larger diamonds, and right-hand
                                rings.
                                • Upgrades and Enhancements – As you’ve already seen,
                                  many customers eventually purchase upgrade engagement or
                                  wedding rings. Enhancers, guards, and wraps for solitaires offer
                                  added possibilities.

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• Anniversary Rings – For decades, a favorite gift for anni-
  versaries has been the diamond anniversary ring. This is essen-
  tially the same as many band-type designs used for engage-
  ment and wedding rings. One version – the eternity ring – was
  created specifically for anniversaries, but consumers adopted it
  for other bridal occasions too.
• Larger Diamonds – Rings with fewer but larger diamonds have always
  been high on the list of anniversary gifts. In recent years, their symbolism
  has been enriched by the three-diamond ring with its “Past, Present, Future”
  message.
• Right-Hand Rings – Another choice is the diamond right-hand ring.
  This style is defined as any ring that’s worn on the right hand and features
  at least one significant diamond. Introduced in 2003, the concept was devel-
  oped for women self-purchasers. But men quickly identified it as a great
  gift idea, and now purchase more than 2/3 of all right-hand rings.

                                   Other Anniversary Choices
                                       While rings are most popular, anniversary diamonds can deliver
                                   their messages in other forms, such as earrings, necklaces, bracelets,
                                   and pins. Sill more possibilities are supplied by Journey Diamond
                                   Jewelry and other products in your showcases.
                                   • Journey Jewelry – This concept was created especially for
                                     anniversaries and other gift occasions. Journey jewelry is available
                                     in earring and pendant designs. It features diamonds of gradu-
                                     ated sizes that symbolize how love grows over time. Introduced
                                     in 2006, Journey quickly became one of the best-selling diamond
                                     jewelry design categories, and one of the most popular anniversary
                                     gifts.
                                   • Other Products – As varied and appealing as it is, diamond
Photo courtesy Samuels Jewelers.     jewelry doesn’t provide the only choices for anniversary gifts.
                                     Almost every item in your store – colored gemstones, cultured
                                     pearls, watches, metal-only, new, custom, or estate – is something
                                     a husband might purchase for an anniversary, and a wife would be
                                     happy to receive.

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BRIDAL CUSTOMERS
    In Lesson 2 you learned that jewelry customers can
be analyzed in terms of demographics, psychographics,
and behavior. In this section, you’ll focus on the first two
factors. In the next section, you’ll examine shopping and
buying behaviors.
   Most customers for bridal jewelry fit into one of two
groups – those who are shopping for engagement and
wedding rings, or those who are seeking anniversary gifts.
These groups share certain traits and concerns, but the
complete profiles are distinctive.

                                      Engagement and Wedding Customers
                                          As far as jewelry purchases are concerned, the most important
                                      demographics are based on gender, age, and income. Customers
                                      for engagement and wedding rings illustrate how these factors
                                      apply – but there are some surprises too.

                                      Gender
                                         Men purchase virtually all engagement rings and bride’s
                                      wedding rings, and women receive them all. For this reason, men
                                      have traditionally been considered the primary customers for
                                      engagement and wedding rings. But that probably never was true,
                                      and it’s certainly not today.
                                           Receiving any gift of fine jewelry – and especially bridal
                                      jewelry – usually isn’t a totally passive act. Brides have always
                                      dropped hints about the rings they’d like to have, and most
                                      still do. But many now take a more “hands-on” approach. For
Purchase decisions about              example, showing their fiancés photos of rings in magazines or
engagement rings have to please       on websites, window-shopping with them at jewelry stores, or
brides as well as grooms.
                                      guiding them inside for a look at what’s in the cases.

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   As a result, most brides today have some level of participation in selecting their engagement and
wedding rings – and many get very involved. In fact, studies show that brides have more influence than
grooms in most decisions about engagement rings.
    More than 1/2 of brides receive the diamond shape they like best; 2/3 receive the metal they prefer;
and 3/4 receive the ring style they wish for. More than 60% of brides even have a big say in choosing
the store where the ring is purchased.
    So, in an engagement or wedding ring purchase, your mission is to satisfy both the groom and the
bride.

Age
   Most of today’s jewelry customers belong to three generational cohorts – Baby Boomers,
Generation X, or Millennials. Here’s a “snapshot” of their birth years and ages at specific points in
time:

   Cohorts                   Born           Age in 2010           Age in 2015           Age in 2020
   Baby Boomers          1946-1964               46-64                 51-69                 56-74
   Generation X          1965-1979               31-45                 36-50                 41-55
   Millenials            1980-1995               15-30                 20-35                 25-40

                                Engagement and wedding customers tend to be young. In any given
                            year, about 3/4 of all US marriages are for the first time. The rest are for the
                            second time or more. The median age at first marriage is currently 26, and
  Many                      at second marriage it’s 33. Thus, about 1/2 of all first or second marriages
                            occur between the ages of 18 and 33. This age range also accounts for
Millennials                 about 80% of all engagement ring sales by value.

   are now                     In most markets Millennials are the top engagement and wedding
                            customers, while Gen Xers rank second and Boomers third.
 in their                   • Millennials – Many Millennials are now in their prime “marrying
     prime                    years,” and many more are on the way. As a result, members of this

  marrying
                              cohort will make the majority of engagement and wedding ring
                              purchases until about 2020, and they will stay important for years after

years.                        that. The Millennial generation is also huge – nearly 80 million people.
                              For this reason, the annual number of engagements and weddings in
                              the US could rise as much as 30% in the period from 2010 to 2020,
                              compared to the average from 1995 to 2005.

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• Gen Xers – Between 2010 and 2020, Gen Xers will
  steadily become less important as a group for engage-
  ment and wedding purchases. Individually, however, they’ll
  remain significant. Per capita incomes are likely to rise as
  members of this cohort advance in their professional careers.
  Those who marry may have the spending power to celebrate
  at levels many younger customers can’t afford.
• Boomers – By 2020 Baby Boomers will be rare among
  customers for engagement or wedding rings. In the mean-
  time they’ll be important in the same way and for the same
  reasons as Gen Xers. Some will be marrying again – or            Gen Xers will become less important for
                                                                   engagement and wedding sales as a
  perhaps for the first time – and on average they’ll have the     group, but they will remain significant
  highest discretionary income of any age group.                   on an individual basis.

                                 Income

Income                               Income is an obvious factor in who buys jewelry and how much
                                 they can afford. As a group, affluent and wealthy consumers spend
   is an                         proportionately more than those who make less money. But middle-
                                 and lower-income consumers are much more numerous, and thus
     obvious                     form important market segments.

       factor in                     There’s no published research that directly matches income with
                                 engagement and wedding ring purchases. But it’s possible to make
    who buys                     inferences from data that is available. For example, customers can be

  jewelry and
                                 divided into four groups based on spending:
                                 • Customers who spend less than 50% of the average for
 how much                          engagement and wedding rings make about 1/2 of all

   they can                        purchases, and those purchases represent about 30% of
                                   the total value of all sales.
       afford.                   • Those who spend 50 to 100% of the average make a
                                   little less than 1/3 of purchases and account for almost
                                   30% of total value.
                                 • Those who spend 100 to 200% of the average make
                                   about 1/6 of purchases and account for 25% of value.
                                 • Those who spend more than 200% of the average
                                   make less than 1/20 of purchases (actually only 3.5%),
                                   but account for 17% of total value.

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    These four groups probably correspond to lower-income,
middle-income, affluent, and wealthy customers. In that case, the
traditional bridal components are much like the rest of the jewelry
market, in which the wealthiest 30% of customers make almost
70% of all purchases measured by value.
    But most customers are also willing to trade up for special
purchases, and spend more than they might normally feel they can
afford. This happens often with engagement and wedding rings.
So, be careful not to make assumptions based on first impres-
sions. Take time to get to know the customer and determine what
he needs to express the emotions he’s feeling and the messages he
wants to send.
                                          Anniversary Customers
                                              A good way to get a picture of anniversary customers is
                                          to compare and contrast them with engagement and wedding
                                          customers – to look at what’s the same and what’s different.
                                          • Gender – The marital status is different (already
                                            married vs planning or hoping to be), but the basics of
                                            the situation are exactly the same: The purchase needs to
                                            please both husband and wife.
                                          • Age – The current ranking of cohorts is reversed. Baby
                                            Boomers are now the top customers for anniversary
                                            gifts, but over the next decade they’ll begin to give up
                                            that position. Meanwhile, Gen Xers and Millennials are
                                            likely to be buying more jewelry as a result of rising
                                            incomes. So, they’ll start to become your best anniver-
                                            sary customers – and they’ll probably stay that way for
                                            the rest of your career.
                                          • Income – The patterns and circumstances are the same
                                            as for engagement and wedding customers, and for
Baby Boomers are currently the top
customers for anniversary gifts of fine     customers of fine jewelry as a whole. Those with higher
jewelry.                                    incomes are likely to spend more – both in absolute
                                            terms and proportionately. But every customer is impor-
                                            tant, no matter how much he makes or plans to spend.

Advanced Jewelry Sales 6                                                                                 15
Bridal Jewelry

BUYING BRIDAL JEWELRY
    As you learned in Lesson 3, the buying process normally
consists of six steps – triggering, pondering, searching,
selecting, committing, and evaluating. Typical behaviors
include setting a budget, deciding where to shop, comparing
options, and seeking the best deal.

Triggering
    Triggering occurs when an event of some kind begins the
buying process for a particular purchase. With bridal jewelry
the triggers are obvious. For an engagement ring, it’s when
the groom decides he’s going to “pop the question,” or the
couple agree that they’re ready to “make it official.” If the
                                                                   The trigger for an engagement ring
wedding rings are purchased separately from the engagement         purchase may occur when the groom
ring, they have their own trigger. That’s usually when the day     decides to “pop the question.”
of the ceremony is set. The trigger for an anniversary purchase
comes when the yearly date begins to approach – or the
husband remembers it.

                             Pondering
                                 The second step in the buying process is usually pondering whether
                             to invest in jewelry or something else. For engagements and weddings,
Some                         tradition dictates the purchase of rings. So, pondering is often replaced by

 customers                   planning, which includes budget setting.

   set the                   Budgeting       for   Engagements
                                 Research shows that almost 2/3 of grooms decide on the engagement
engagement                   ring budget by themselves. Some couples set the budget together. But the

 ring                        groom almost always makes the final decision on how much to spend.

   budget
                                 A budget isn’t an exact or fixed amount, however, and it can change
                             as the buying process moves forward. Grooms often spend more than

    together.                they originally plan.
                                 Another thing research indicates is that engagement ring budgets
                             aren’t very sensitive to the downsides of economic cycles. In the middle
                             of the “Great Recession” of 2007-2009, more than 3/4 of couples in one
                             survey said they weren’t spending less for their ring as a result of the
                             economy.

16      Advanced Jewelry Sales 6
Bridal Jewelry

Options         for    Anniversaries
    Budget setting is also part of the pondering step for an anniversary

                                                                            3/4 of
purchase. But there’s a bigger issue as well. The list of gift choices is
much more open than with engagements and weddings. So, the husband
has to decide whether to spend the money on jewelry or something like
a luxury vacation.
                                                                             wives want
     In offering jewelry, you’ve got the person who counts most on your         jewelry
side. One study found that more than 3/4 of wives would like to receive
jewelry for their anniversary. But that desire may not be conveyed at
                                                                             for their
all, or there could be miscommunication. Then the husband might buy         anniversary.
jewelry the wife doesn’t like.
    This underscores the importance of building relationships and
staying in touch with both partners, and getting the wife involved in the
buying process from the beginning.

                                       Searching
                                           In the searching step of the buying process, the customer seeks
                                       basic facts about the purchase. The goal is to develop a clear idea
                                       of what options are available in selection and cost.

                                       Timeframes
                                           Most brides and grooms begin the searching step for engage-
                                       ment rings more than six months before the wedding, and about
                                       1/3 start more than 12 months ahead.
                                           The timeframe for anniversary purchases can vary from year
                                       to year. The average searching period is about three to six weeks.
                                       For milestone anniversaries it can expand up to six months or
                                       more. But if the husband doesn’t remember that it’s his anniver-
                                       sary until he’s on the way home from work, the entire buying
                                       process may get crammed into a single hour of very intense and
                                       anxious shopping.
Many couples begin searching for
engagement rings more than 6
months before the wedding.
                                       Info Sources
Photo courtesy Samuels Jewelers.
                                          The information that’s gathered in the searching step can come
                                       from a variety of sources. Today most brides and grooms find
                                       much of it on the internet. Many brides also window-shop, and
                                       some venture into jewelry stores to look at rings and try them on.

Advanced Jewelry Sales 6                                                                               17
Bridal Jewelry

    Grooms are likely to ask recently engaged or
married peers for advice. They may also visit stores,
read brochures or watch DVDs supplied by retailers,         Grooms
and browse through their fiancées’ wedding magazines.
                                                             are likely to
     When husbands start searching for anniversary
gifts, they may turn to a number of sources for infor-         ask engaged or
mation. Some pick up suggestions from ads they’ve
seen. Others seek advice from friends, coworkers, or
                                                                 married peers
family members. Many are guided by memories of                 for advice
                                                             about
comments their wives have made. The lucky ones have
a good idea about what to look for and where to find
it. This might be based on clear input they’ve received
from their wives – or perhaps a timely reminder from a
                                                            engagement
jewelry professional like you.                                     rings.

                                              Selecting
                                                  Selecting is the step in which the customer compares
                                              options, identifies the most likely possibilities, and
                                              begins working toward a decision about the purchase.
                                              With engagement rings, some couples or grooms
                                              move to the selecting step more than a year before the
                                              wedding, and a few do so less than a month in advance.
                                              But about 1/4 shift to this step six to 12 months before,
                                              1/4 do it at three to six months, and 1/4 at one to three
                                              months.
                                                  Many anniversary customers arrive at the selecting
When buying anniversary gifts, many           step about two weeks before the celebration. But the
men are guided by comments their wives        timing can vary depending on the importance of the
have made in the past.                        anniversary and the amount and quality of guidance the
Photo courtesy Samuels Jewelers.              husband receives.

18         Advanced Jewelry Sales 6
Bridal Jewelry

Deciding Where         to   Shop
    One of the first things that happens in selecting is that customers
decide where to shop. During the searching step, they develop a good
idea of what various stores offer. In selecting, they narrow the list to a
manageable number – usually three to five stores.
   Decisions about where to shop are usually based on customers’
knowledge, perceptions, or expectations regarding:
•   The price range of the store’s merchandise.
•   The quality of that merchandise.
•   The size of the selection.
•   The store’s reputation.
•   The knowledge and helpfulness of its professional team.
•   The amount and quality of personal attention that will be
    received.

                                               Comparison Shopping
                                                   Once the list of stores is finalized, comparison shop-
Millennial                                     ping begins. Millennial couples shopping together are
                                               likely to look at nearly 30 rings over a three-month period.
   couples                                     Grooms shopping alone and husbands seeking anniversary

shopping together
                                               gifts may not look at as many pieces or take as long, but
                                               the thought processes and emotions they go through are

  may look at                                  much the same.

nearly 30 rings
                                                   The ultimate objective is to find the best – hopefully,
                                               perfect – combination of features, benefits, meanings, and
     over a                                    feelings for both the gift and the buying experience. But
                                               this can be hard to do. If you total up just the possibili-
  three-month                                  ties for an engagement ring, with the 4Cs for the center

        period.
                                               diamond, basic ring styles, settings, and traditional metals,
                                               there could be more than 100,000 possible combinations to
                                               consider.
                                                   That’s why customers for bridal jewelry – or any other
                                               category – need the assistance of professionals who have
                                               the knowledge and skill to explain the factors that affect
                                               beauty, quality, and value, and guide them in making
                                               educated decisions.

Advanced Jewelry Sales 6                                                                                 19
Bridal Jewelry

Committing
    Committing – or saying “Yes” and making the purchase
– completes the main phase of the buying process. Nearly all
engagement and wedding customers eventually buy rings. The big
questions are: “Will they do it at your store or from a competitor?”
And “Will the buying experience encourage them to acquire more
jewelry in the future?” Similar questions exist with anniversary
customers.
   In order to commit to you, your store, and one of the choices
                                                                       Nearly every engagement customer
you offer, customers need four things – certainty, trust, confi-       will buy a ring. But will it be from you?
dence, and assurance.

                                  • Certainty – Customers must feel certain that they understand
                                    the factors that should affect their purchase decision; that they
                                    have received accurate and adequate information about those
                                    factors for the choices they’ve been offered; that they have consid-

In order                            ered the choices intelligently, and have found the one that repre-
                                    sents the best balance of factors among the possibilities they’ve
  to commit,                        seen, or might reasonably expect to find.

    customers •                      Trust – Customers must trust you, your store, and your entire
                                     team. They have to know that you do business in a way that’s
  must trust you,                    consistently honest and fair; that you’re able and willing to work

your store,
                                     for their best interests; that you’ll keep your word and deliver on
                                     promises you make; and that you – more than any other store or

  and your                           professional they’ve encountered – are the best one to assist them
                                     with this important decision.
    entire team. •                   Confidence – Customers must be confident that the purchase
                                     can accomplish what they need and want it to. To do that, the gift
                                     must send all the right messages in all the right ways.
                                  • Assurance – Customers must be sure that if there are problems,
                                    you’ll do your best to fix them. This starts with issues like faulty
                                    workmanship or a mix up with a special order. But it extends
                                    to situations over which you have no control – like a girlfriend
                                    saying “No” to a proposal, or a wife deciding she doesn’t want
                                    something she had on her wish list.

20      Advanced Jewelry Sales 6
Bridal Jewelry

    Customers think you might be able deliver all these things
when they put your store on their list for comparison shopping.
You can start showing them that they’re right in the early steps of
the selling process. But you have to continue to confirm and rein-
force all the way through closing and follow-up.

                                           SELLING ENGAGEMENT RINGS
                                               Engagement ring sales can be long and complicated. But
                                           when you consider everything that’s going on, it’s easy to
                                           understand why. You’re often dealing with a mix of complex
                                           psychology, strong emotions, deep messages, profound
                                           symbolism, and high monetary investment. Many of the
                                           grooms you work with are buying fine jewelry for the first
                                           time, and they’re starting with the most important purchase
                                           they may ever make. You also have at least two people to
                                           please – the bride and groom – and the list may extend to
                                           many others on both sides of the aisle.
                                               As a result, you need to bring your “best game” profes-
                                           sionally, and be ready to guide customers through a lengthy
                                           buying process.
                                               Sales for engagement rings often go through a series of
                                           three distinct phases – brides and grooms searching sepa-
Engagement ring sales can be               rately, couples shopping together, and grooms coming back
long and complicated. So, you              to commit and “close the deal.”
need to bring your “best game”
professionally.
                                            Phase 1 – Separate Searching
                                              In the first phase of an engagement ring sale, the bride
                                           and groom are likely to visit your store separately, perhaps
                                           more than once. Both are in the searching step of the buying
                                           process.
                                               Brides and grooms have different shopping styles and
                                           priorities, but their goals are similar. They have to do with
                                           your products, your store, and you.

Advanced Jewelry Sales 6                                                                                   21
Bridal Jewelry

• Products – During initial searching visits, brides and
  grooms gauge the size and appeal of your selection, as well
  as the general ranges of quality and price. Brides often look
  for preferred styles and familiar brands.
• Store – Brides and grooms also want to get a “feel”
  for your store. They’re looking for a place to shop that’s
  comfortable and interesting, with a team that’s knowledge-
  able, helpful, and attentive.
• You – They want to find out if you know what you’re
  talking about. Are you honest, friendly, and enthusiastic
  – genuinely able and willing to assist them with the buying          In the first phase of an engagement
  process? How easy will you be to work with?                          ring sale, the bride may visit your
                                                                       store on her own.
   You have your own professional objectives for this phase.
You need to establish rapport, get into profiling, show the
choices you have to offer, and do some presenting. Most of all,
you have to sell your store and yourself.

                             Separate Brides
                                 Brides might come alone, or maybe with one or two friends or family
Your                         members. Today most have definite ideas about what they want. Your ulti-

  mission is                 mate mission is to help turn their dreams into reality. In the first phase of
                             the sale, however, your top priority is to make brides and whoever’s with
    to turn                  them feel comfortable and welcome.

 brides’                        If they want to do some “just looking,” let them know that’s fine and
                             you’re there to assist whenever they’re ready. Then stay nearby and alert.
dreams                           Look for a chance to start building rapport. When it comes, give

  into                       most of your attention to the bride, but get everybody involved. Make it a
                             party!
   reality.                  Profiling the Bride
                                 As soon as you find out why the bride is in your store, you need to
                             take four specific verbal actions. Congratulate her, anticipate success,
                             translate what’s happening into symbolic and emotional terms, and
                             appreciate the opportunity she’s giving you.

22      Advanced Jewelry Sales 6
Bridal Jewelry

• Congratulate – Express joy and good wishes. You don’t
  have to be fancy or wordy – just sincere. “Wow! That’s
  great! Congratulations!” This flips on the spotlights, pops
  the confetti, strengthens the personal bond between the two
  of you, and puts you on her side.
                                                                   Acknowledge
• Anticipate – Also express confidence in a successful               the honor
  outcome. “We’ve got a big selection of gorgeous rings,
  and I’m sure we can find some you’ll love.” This sends the
                                                                       a bride gives
  message that she’s found the right place to shop.                  you by
• Translate – Put the real reason for the visit into words.
  “You’re looking for a symbol of all you mean to your
                                                                   including you
  future husband – and all he means to you.” This lifts the           in her search.
  experience out of the level of everyday shopping and
  elevates it to the realm of romance.
• Appreciate – Acknowledge the honor the bride has
  given you by including you in her search. “I know this
  will be an important choice, and I want to thank you
  for letting me help.” This shows respect, empowers the
  customer, and frames the dynamics of the interaction going
  forward.

                                             Through your profiling you need to obtain essential
                                         information about both the bride and groom. Specifics for
                                         the bride include preferences – as well as dislikes – in ring
                                         style and metal, plus diamond shape, size, and color. Be sure
                                         to measure the bride’s ring size. Also learn how actively she
                                         expects to be involved in the buying process.
                                             In profiling for the groom, try to find out what he’s like
                                         as a person. If the bride won’t be directly involved in the
                                         purchase, also get a sense of how much she trusts his taste.
                                         If she will be involved, ask for suggestions on how to deal
                                         with him if he visits the store alone, or when the two of them
You need to determine the bride’s        come back together.
preferences for both the diamond
and the ring.

Advanced Jewelry Sales 6                                                                            23
Bridal Jewelry

Presenting to the Bride

                                                                       Use words
    When you present possibilities to the bride, create lots of
involvement. Encourage her to try on rings. Highlight features
and benefits based on what you’ve learned in profiling. Add
emotional involvement by using descriptive words like “breath-
                                                                         like
taking,” “classic,” “elegant,” “gorgeous,” “timeless,” and            “breathtaking,”
                                                                        “classic,”
“unique.” Also paint verbal pictures … of how the bride will
look and feel when she receives the ring and wears it … of what
others will think and feel and say … and how her groom will
feel when he presents the ring and sees “that look” in her eyes
                                                                          “elegant,”
and the expression on her face.                                       “gorgeous,”
    Answer any questions the bride has. But keep the spotlight
on romance. If there are people with her, don’t get sidetracked
                                                                          “timeless,”
by them. Give the bride her rightful share of your attention.            and
     At an appropriate point, be sure to deliver your value propo-
sition – to sum up the strongest reasons why the choices you
                                                                      “unique.
offer represent the best value the bride can find. Also articulate
your store’s brand essence and promise, and your own as well.

                                           Other topics to cover include aesthetics (for example, ring
                                       size vs hand size); practicality (matching the ring with the bride’s
                                       lifestyle); and the relationship between beauty, quality, and value.
                                       More possibilities are the signatures and stories for branded rings
                                       you show, and fashion or celebrity connections that might add
                                       interest and appeal.

                                       Planning with the Bride
                                          The bride won’t make the purchase. But you shouldn’t let her
                                       walk out the door and simply hope that she or her groom will
                                       come back. Instead, be proactive.
                                           At the close of the visit, discuss lead times for special orders,
                                       sizing, engraving, and so forth – whatever’s appropriate based
                                       on the choices you discussed. If the bride has her heart set on
When you’re presenting to the
bride, be sure to deliver your value
                                       one particular ring, urge her to take the next step soon. “Several
proposition.                           couples have expressed interest in this ring. If you really want it, I
                                       want to make sure you have it. Maybe we could arrange a time for
                                       you and your fiancé to come in and talk more about it.”

24       Advanced Jewelry Sales 6
Bridal Jewelry

    Set up an appointment for the bride and groom to come in
together, or make plans for him to come alone. Give her your
card, and ask her to have him contact you. If you’ve estab-
lished strong rapport, ask if it would be okay to contact the
groom yourself. And if she says “Yes,” do that promptly.
    If the plan is for the groom to come in alone, work with
the bride to select three to five rings she’d be happy with. Aim
for a range of prices. Also get her to rank her picks in order of
preference and include that information in your notes.

                                                                    Before saying goodbye to a bride
                                                                    who’s searching separately, plan for
                                                                    the next step in the buying process

   Hints and Helps

   W       hen you’re working with a bride who won’t be directly involved in purchasing her
           engagement ring, here are some strategies you might suggest:
    Tell Him – As opportunities arise, the bride can describe to her groom the ring styles,
       diamond shapes, metals, and other features she likes – and also those she doesn’t
       like.
    Show Him – The bride can get her groom to look at websites or magazines with her,
      and point out rings she likes. She might also send him images by mobile phone, leave
      web pages open on the computer, or cut photos out of magazines and put them in
      places where he’ll see them.
    Send Him – She can arrange for a close friend or family member to go shopping
      with the groom. This works especially well if it’s someone who accompanied her on
      searching visits. Otherwise, she can give her “stand-in” a detailed briefing on her
      likes and dislikes.
    Bring Him – Taking the groom window shopping is another good option. If they’ll be
       coming by your store, you might arrange to have the rings she likes in the display.
      The best strategy depends on the bride and groom’s personalities and where they’re
   “at” in their relationship. But a little creative collaboration between you and the bride will
   almost always reveal a way to get the message about ring preferences delivered.

Advanced Jewelry Sales 6                                                                               25
Bridal Jewelry

Separate Grooms
    When they begin shopping for engagement rings, many grooms have never purchased fine jewelry.
In their initial searching visits, they seek answers to basic questions and assurances on critical issues. If
they bring someone with them, it will probably be a close friend.
     For you the visit is mainly about rapport building, profiling, and presenting.

Building Rapport with the Groom
    When the groom enters your store, he’s probably a little anxious – at least. So, you need to get him
to slow down and remember why he’s there.
    The best approach is a simple, sincere, and friendly greeting followed by a little no-pressure rapport
building. The message you need to send indirectly through your words – but clearly through your vocal
tone, smile, and body language – is: “Relax! You’re safe! You’ve made it to the right place!”

                                          Profiling the Groom
                                              When you bring the subject around to business and learn the
                                          reason for his visit, do the same things you would with a bride
                                          – congratulate, anticipate, translate, and appreciate.
                                              As you move forward with your profiling, find out about him
                                          and his bride. Remember to use an emotional approach. Keep the
                                          focus on romance. Word your questions so they’re open-ended.
                                          Listen actively, and watch for nonverbal signals.
                                              You might start with the biggest question first: “What do you
                                          want this ring to say to your bride, to you, and to others who see
                                          it?” This transforms the experience from shopping to a romantic
Ask the groom, “What do you want          quest.
this ring to say to your bride, to you,
and others?”                                  Take time to get acquainted. What does he already know about
                                          the purchase? … What else does he need to know? … Just as
                                          important: What does he really want and need from this buying
                                          experience?
                                              Also get to know the bride. “Tell me all about her.” … “How
                                          did the two of you meet?” … “How long have you been together?”
                                          … “What kind of work does she do?” … “How about her outside
                                          interests and activities?”

26        Advanced Jewelry Sales 6
Bridal Jewelry

Presenting to the Groom
    If the bride has visited your store and made some prelim-
inary selections, start with these in your presenting step.
Otherwise, do some profiling to help you make the right
suggestions.
    You might first try being direct: “Has she told you what
                                                                     If direct
she likes in terms of the diamond’s cut or the style of the
ring?” … “Maybe shown you some pictures?” … “Pointed
                                                                       doesn't work,
out rings she liked in a store window, or that friends were              try detective.
wearing?”
   If that doesn’t work, switch to detective mode: “Would
you say her taste in clothing and décor is traditional or
contemporary?” …“Tell me about the jewelry she already
owns.” … “Is there anything she loves and wears all the
time?”
                                              Once you start showing rings, get the groom physically
                                          involved by letting him touch them and hold them. Show him
                                          the diamonds under a microscope or with a loupe. Use a ring
                                          stick or ask someone in the store to act as a model.
                                               As always, create mental involvement by translating
                                           features into benefits, and add emotional involvement with
                                           romantic descriptive words. Also paint verbal pictures of three
                                           specific scenes – giving, receiving, and enjoying.
                                           • Giving – Describe the love, pride, satisfaction, and joy
                                             the groom will feel when he presents the ring, asks the
                                             question, and hears his bride say, “Yes!”
                                           • Receiving – Also depict the look in her eyes and on
                                             her face. How happy she’ll be with the ring and him.
                                             How much in love – and how loved – she will feel at that
When you show engagement rings, get          moment.
the groom physically involved by letting
him touch them and hold them.              • Enjoying – Then flash forward to the bride wearing her
                                             ring. To the reactions of her family, friends, and coworkers
                                             – or his – when they see it. What they’ll think and say
                                             about the ring and her and him. And what the ring will say
                                             to them about the love he and his bride share.

Advanced Jewelry Sales 6                                                                                27
Bridal Jewelry

    As with the bride, find opportunities to deliver your value proposition and to
articulate the brands of your store and yourself. Explain how the 4Cs relate to beauty,
quality, and value. Make the groom aware of how important diamond shape and ring
style probably are to his bride. Also be sure to cover aesthetics and practicality.
    You’ll probably need to discuss business details like your store’s guarantees, return
policy, and credit arrangements (if you offer them). Another likely topic is spending
guidelines. Most grooms have heard of the two months’ salary recommendation that’s
been promoted by the jewelry industry for decades – and most ignore it. They regard it
as unrealistic, pretentious, and greedy.
    You’re probably better off pointing out that the groom is making a long-term
investment, and sending important messages to his bride as well as others. He should
buy the best he can afford. But what’s most important is that the ring should show his
bride how much she means to him.

                                      Planning with the Groom
                                          Very few grooms buy an engagement ring on their initial
                                      shopping trip. But you should be ready to make the sale anyway.
                                      Attempt trial closes periodically, and if you see that the groom’s

Offer                                 ready, go ahead with the final close.
                                          Don’t be discouraged if you hear something like, “I need to
 to work                              look around some more.” Urge the groom to take as much time as

   with the                           he needs. Assure him that you’ll be ready whenever he is. But – as
                                      with the bride – don’t just let him leave. Try to get him to do some
  groom                               planning and committing.

any way                                   Discuss the lead time for special orders, ring sizing, and so
                                      forth. This establishes concrete deadlines for decision-making
    he likes.                             If you haven’t yet seen the bride, also discuss her involvement.
                                      Does she want to select the ring herself? Does she want to be
                                      surprised? Or maybe something in between?
                                         Offer to work with the groom any way he likes, and ask if it
                                      would be okay to call him in a few days to see how the hunt is
                                      going. Be sure to follow up. Then try to get him to schedule an
                                      appointment to come back in.

28      Advanced Jewelry Sales 6
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