Sales Strategy

Jimmy DeGroot: Stop Giving It Away, Protect Your Margins in Jewelry RetailBy Jimmy DeGroot, Train Retail |  August 21, 2025 (0 comments)

Appleton, WI--One of the greatest threats to profitability in our stores isn’t competition, it’s self-inflicted. Too often, we let fear, guilt, or insecurity drive us into discounting our jewelry to the point where the margin disappears.

In a recent conversation on the Slow Growth Business Podcast, Kyle Bullock and I reminded ourselves and our listeners: you don’t have to live like a refugee, and you don’t have to give away your product for no margin.

Let’s be clear, discounting is easy, but it’s not leadership. When we slash prices out of habit or pressure, we’re essentially telling our team and our customers that our jewelry isn’t worth what we’ve priced it at. That mindset erodes confidence, confuses buyers, and ultimately reduces the trust your community places in your store.

Instead, we need to anchor ourselves in the value we provide. Your independent jewelry store is not a big-box discounter. You offer expertise, care, artistry, and a personalized experience that cannot be duplicated by an online retailer or a chain. The right strategy is to consistently communicate that value, both in how you present merchandise and in how your team approaches each customer.

Here are three takeaways for every jeweler to put into practice:

1. Price with confidence. If you don’t believe in your prices, neither will your team or your customers. Train your staff to present jewelry with assurance, not apology.
2. Build value before price. Show the design, the craftsmanship, the story—then let the price feel like a natural reflection of that worth.
3. Use discounts sparingly and strategically. A discount should be a tool for clearing aged inventory, not a reflex at the counter.

At the end of the day, deep discounting is not generosity—it’s sabotage. Your team deserves to work in a store where the products and the pricing are respected. And your customers deserve the confidence of knowing they purchased something special, not just something cheap.

So stand tall. Believe in your value. And remember, protecting your margin isn’t just good business—it’s good leadership.

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.