Sales Strategy

Jeweler Sells $152K Of Dated Inventory In One-Hour Sale February 28, 2018 (0 comments)

Pocatello, ID--Talk about finding money while decluttering: Molinelli's Jewelers sold $172,000 worth of old jewelry (value before discount) during a special 60/60 promotion. The event, a program offered by James Porte, features a one-hour time block when (almost) the entire store is on sale for 60% off.

The jeweler invited its best customers to come and pre-shop the event for three days prior to the Feburary 24 sale, which displayed only inventory that was 20 months or older. In total, the promotion freed up over $60,000 of capital when it was over. 

Lance Buttars of Molinelli's called the promotion "still the most effective way to move aged inventory we have ever tried." The jeweler closed early Friday afternoon and remained closed Saturday afternoon to prepare, and customers were lined up waiting in 22-degree weather for the store to open at noon, he said. 

A packed house at Molinelli Jewelers' 60/60 sale, above. Below, Solomon's Jewelers in Plainview and Albertson, NY, also ran successful 60/60 sales in December 2017. The Albertson location (pictured) included some designer jewelry; the Plainview location excluded designer jewelry from the sale.

The Porte 60/60 program includes direct mail and first-class postage, email templates, Facebook posts and boosts, website banners, and guidance throughout the program, costs between $2,000 and $5,000, depending on mailing quantity and postage, says James Porte. For information, call him at (954) 817-3911.