David Weisz & Sons, a 70-year-old diamond house in New York city with a great heritage contends that diamond studs is an under-exploited category and should be contributing at least 10% of a store’s total jewelry sales, and so they commissioned a survey by MVI Marketing LLC to see if jewelers agree.
74% of jewelers in the study are doing 6% or less of their business in diamond studs currently. The same number (74%) also believe that 10% to 20% or more is possible but say they have not had the support to do it profitably.
“Studs are the most successful jewelry style of all time, while diamonds are the most sought-after gemstone. Putting a marketing push behind them is a win-win for jewelers who want to grow their total business,” stated Liz Chatelain, President of MVI.
As a solution to help jewelry retailers grow their diamond stud business to at least 10% of their jewelry business, David Weisz and Sons has developed a “white-label” program. This program consists of marketing materials with the retailer’s own brand. The program also includes advertising creative, co-op funding, in-store signage, special pop-up promos, website and social media content, and in-store sales training for the retailer’s staff.
One retailer in the survey stated that it was great that a supplier is “finally putting emphasis on this category and providing assistance to grow my business.”
This ‘white label’ program called the WEISZ 10%+ Solution will coordinate with David Weisz & Sons’ one-stop-shop for all diamond stud earrings starting at .25ct TW and will be in place for this holiday selling season, according to Chatelain.
For more information, please visit: www.davidweiszandsons.com.
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