12 Steps for Successful Holiday Renting Season

By Bryan Collins
The Bryce Company

"Done correctly, jewelry will be the most profitable 10 square feet in your store"
Bryan Collins

The busiest renting/selling jewelry season of the year is fast approaching. Dealers who want their slice of this profit pie can follow these easy steps to maximize the Christmas Season.

1. Make sure you have a Live program
   • Some suppliers offer alloy (fake) display models. Using an alloy program will reduce your rentals. Jewelry is often an impulse item and customers will be disappointed if they have to wait for a special order. It is not uncommon for dealers to quadruple jewelry agreements with a live program vs. alloy. An alloy program is an invitation for your customer to shop around.
      
2. Make sure inventory levels are adequate, especially best sellers.
   • You cant rent what you don't have. No other category offers more immediate gratification to rental customers than jewelry. If you cant deliver today...your competition will!
      
3. Check supplies; ring boxes, gift boxes and wrapping paper.
   • Be prepared. Jewelry is often rented as a gift. In most cases, it is an impulse item. Little things like free gift wrapping will separate you from the competition.
      
4. Make sure all merchandise is tagged properly.
   • You wouldn't dream of displaying big screen TV's without price tags. Price tags give the shopper valuable information and allow them to compare items.
      
5. Check merchandise for cleaning or refurbishment needs.
   • Pre-rented jewelry is virtually maintenance free. However, proper cleaning and maintenance are key to a quality presentation.
      
6. Have a Christmas marketing plan in place.
   • Include jewelry in all marketing materials. Begin marketing your jewelry now for increased rentals in December.
      
7. Clean jewelry case inside and out.
   • A clean display case is as important as a clean carpet. It is the 'showroom floor' so to speak for your jewelry.
      
8. Dress case with Christmas decorations.
   • Give your customers a reason to rent jewelry. Decorate your display case to match the season.
      
9. Have proper signage.
   • Hang banners and signs prominently announcing your program. Add a "We rent Jewelry" sticker to all price tags
      
10. Schedule Training refresher for employees.
    • Renting jewelry requires product knowledge. Insure your jewelry supplier provides regular in-store training sessions for all sales associates.
       
11. Remind customers of number of shopping days until Christmas.
    • Hang a 'countdown to Christmas' calendar next to your jewelry display.
       
12. Have salespeople get into the jewelry case more often and do Show & Tells with customers.
    • Never let a customer leave the store without encouraging the customer to "try on" a piece of jewelry

Done correctly, jewelry will be the most profitable 10 square feet in your store. Preparation is the key to a successful Jewelry Renting Christmas Season. Make the extra effort and reap the profits.

A printer friendly version of 12 Steps for a Successfully Renting Jewelry is available here