Sales Strategy
Jimmy DeGroot: Memo is the Most Misused Tool in the Jewelry Store July 23, 2025 (0 comments)
Appleton, WI-- Kyle Bullock and I dove deep on a hot topic in our latest podcast: So, what’s the deal with memo? Well… it’s a tool—and like any tool, it’s only helpful when used right.
Memo (memorandum merchandise) has helped many jewelers open their doors with full cases and little upfront investment. That’s one of the reasons using memo is good. But here’s the bad: it often becomes clutter, filling your showcases so you feel good about the amount of inventory, all the while taking the focus off your paid asset. Then it becomes aged inventory that isn't yours, draining your energy, dulling your showcases and confusing your staff.
We’ve seen stores defend memo pieces like family heirlooms that don’t even belong to them. You’re paying to clean, insure and showcase someone else’s product—often at a premium. And the kicker? When you sell it, you pay for it, and then still must cover the aging stock you already own.
Memo, when used right, is powerful. Use it for:
- Testing new styles or vendors before committing.
- Filling high-end price points without tying up capital.
- One-of-a-kind estate or custom pieces that elevate your store’s presentation.
But using memo as a case filler is like trying to paint with a hammer. It’s the wrong tool for the job. If your memo’s been sitting more than six months, it’s not working for you—it’s working against you.
Check out the full episode here: Watch the podcast
James (Jimmy) DeGroot is a professional jewelry sales and operations trainer from the jeweler’s side of the counter. Having been in management and the jewelry business for over 20 years, Jimmy offers weekly training to jewelers nationwide via the Train Retail website. Jimmy and his partner Kyle Bullock help jewelry stores grow their profits and their people to fulfill their greater purpose! We do it through one-on-one business coaching, sales training, and leadership development. Contact Jimmy at jimmy@trainretail.com or call 920-492-1191.