Comments on: How to Use a Loss Leader for Jewelry Sales?

By: Walter

Walter — Fri, 24 May 2019 15:40:41 +0000

In reply to Claireta. That is a very good point Claireta! Sometimes really nice looking jewelry even if it's a bit out of their budget can draw lot's of people to your store and it raises the perceived value of all your other merchandise. The best way to attract customers and make excellent profits is to take in a respectable brand of jewelry and replace what sells monthly. The constant flow of new designs brings the crowd and the faster turnover delivers the highest profits.

By: Claireta

Claireta — Sat, 05 May 2018 22:46:40 +0000

My take on loss leaders is a little different. I put my most beautiful and expensive pieces up front where they are visible to everyone They attract people to the booth and even if the price of what drew them to my booth is beyond their budget they look at less expensive items and usually make a purchase of one of those items. So they may not purchase the $100.00 item but if it attracts people to the booth and say 10 people make purchases of 15-45.00 the expensive item they didn’t buy stilll helped me make sales.

By: Rena Klingenberg

Rena Klingenberg — Tue, 13 Mar 2018 14:07:52 +0000

In reply to Linda Finnie. Linda, what a neat idea - it sounds like a lot of fun for customers!

By: Linda Finnie

Linda Finnie — Tue, 13 Mar 2018 13:56:38 +0000

I also use this strategy. At annual celebrations like Easter for instance. I make up small eggs with an item inside that I sell for a small amount. These items may be a small bracelet. earrings, ring or a voucher for a discount, or a larger item such as a necklace I have been having difficulty selling. It is sometimes useful to put the items that you cannot fit inside the eggs on display stating ‘find out if this item is inside your egg’ to entice people to buy the eggs. I do not use the terms ‘win’ or ‘prize’ as this would mean that the people were gambling to win and this requires a license.
You could also do this at Christmas inside a bauble or gift box.

By: Barbara MacDougall

Barbara MacDougall — Tue, 13 Mar 2018 11:33:16 +0000

Loss leaders work — most times I’ll make a necklace and then two or three pairs of coordinating earrings in different lengths, and offer the earrings of their choice with the necklace. People love that, especially when they’re buying a gift. And, even better, I’ve noticed when people get one thing for “free”, they feel they can splurge a little on something for themselves at the same time.

Barbara

By: Rena Klingenberg

Rena Klingenberg — Fri, 09 Mar 2018 20:06:08 +0000

Hi Stormy, you’re right that a loss leader is a product or service that’s sold at a price that’s not profitable for the seller, but it attracts customers who may purchase additional products or services.

If you want to have a loss leader to attract customers, I would recommend jewelry that’s quick and inexpensive to make – especially while you’re experimenting with this strategy.