CHEAP JEWELRY PROMOTIONS

You see those special promotional offers all the time.

Jewelers advertise great deals with insane coupons, giveaways, discounts and even free items to get customers in the door.

FREE?

You bet.

Do these promotions work?

Are they worth it?

An example of a promotional sale would be this box chain shown below.

This box chain is 10kt yellow gold, 7″ long, with a spring ring clasp on it.

We sent out (many many years ago) 30,000 fliers promoting the fact that this one day (and one day only), we would allow customers to come into the store and purchase this box chain bracelet for $5.00.

FIVE BUCKS?

That’s a hell of a price. Really it is. You can’t go anywhere and buy a gold bracelet for $5.00…

Even if it is cheap…

Five bucks normally wouldn’t even buy you the spring ring clasp, let alone the entire bracelet.

Spring rings cost around $10.00+ (give or take).

So was it a deal?

Did it work?

Did it drive people in to buy?

You bet it did!

It drove people in like crazy. It was a sea of wall to wall customers. All of them trying to decide if that little bracelet was worth the $5.00 purchase.

It was a hoot!

I showed one lady the bracelet in the box (we pre-boxed them to make the selling process faster). I said to her “This is a box chain…“

And she cut me short and replied… “You’re right about that! It’s too thin to wear, it stays in the box!” ha!

You see, those bracelets were super skinny, thin and very, very narrow. If you placed it on your arm, it all about disappeared.

What was the goal?

The goal was, of course, to upgrade the customer into a bigger and nicer (more expensive) bracelet for only about $30.00 more (this was not considered bait and switch because we did have the bracelet in stock and we were selling it for the advertised price).

Some people bought the nicer bracelet. Others took the $5.00 one. Still others pondered this for a good hour or so, and then decided to ponder it some more… ha! It was only $5.00…

Some wanted to know what the gram weight of the bracelet was?

(3 grams?)

Then they wanted to know if that was with the tag or without the tag??? lol

Promotions like these usually do work.

Everybody loves a deal, no matter what it is. A $5.00 bracelet is cheap, but it’s still a $5.00 bracelet.

The point is, you get what you pay for.

Some places give away cheap pearl earrings (like these HERE at Amazon). Some run promotions on free silver charms (see image). Others have gift certificate giveaways or great contests where you can win flat screen HDTV’s.

Either way, it’s cheap.

It’s fun.

And it gets people in the store.

Goal accomplished!

Jewelers may not make any money on these crazy promotions… (the box itself costs a buck, and then you still got a box and a bag).

Most jewelers lose money running these deals…

But it gains them clientele.

And that’s worth every penny.

Box chain anyone?

There’s only 345 left.

Cheers! :)