February 2024 | Lab Grown Magazine

February 2024 | The Lab Grown Diamond Resource Book 12 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | February 2024 13 DISCLAIMER: Lab Grown Magazine assumes no responsibility for content, articles, or advertisement in publication. All rights reserved. Reproduction in whole or in part in any form without prior written permission of the publisher is prohibited. The publisher reserves the right to edit all articles for clarity space and editorial sensitivities. Publisher Zev Oster Manager David Oster Features Writer Dan Scott Graphics / Production Kim Kennelly LabGrownAds@gmail.com Advertising & Sales LabGrownMagazine@gmail.com Circulation 24,000 Magazines Printed &Mailed Monthly Distributed at Show Bins PO Box 683 Pomona, NY 10970 T: 888-832-1109 F: 212-257-7056 www.LabGrownMagazine.com Find us on A division of Zev January’s Bottom Line: Consumer Communication While the “J” months are always challenging for jewelry retailers, January is always particularly difficult. Since it’s the first month of a new year directly following one of the busiest shopping periods of the previous year, retailers must always be thinking out of the box. With LGD prices finally stabilizing and consumer demand continuing to grow, more retailers are featuring lab grown diamond in new and exciting presentations. In this month’s feature story of Carbon by Dan Scott, we’ll learn how one exceptionally savvy and seasoned jewelry retail sales executive leverages the art of storytelling and personalized conversation with diamond education and eye contact. We’ll gain a first-hand read on why this particular salesperson closes more laboratory-grown (and natural) diamond jewelry sales in one day then the average jewelry store in his area closes in a week. While this individual didn’t share his name or store location, he did openly share his thirty-five years of tips versus tricks in closing high-ticket sales consistently. Dan also illustrates how a LGD ring that may appear to be ostentatious to many was never expected to sell... not on its own anyhow. To coin an old apparel retail phrase “it’s the plaid that sells the plain white.” In other words, the most eye-catching, unusual diamond designs are meant to grab attention. These over-the-top styles also provide an instant comparison to more traditional and popular styles - those may have otherwise been overlooked due to their more commercialized appearance. Expect the unexpected in this month’s editorial. We’ll examine how Tiffany and Co. is testing concept stores in London and banking on tasty ways to usher in shoppers while keeping them in-store longer. We’ll also look at Pantone’s 2024’s Color of the Year, and see how smart designers and retailers are leveraging this peachy tone in their fancy colored LGD assortments. We’ll also see why the right presentation of loose, fancy colored LGDs diamonds are gaining shopper’s attention by allowing them to be their own designer of sorts. The take-away is color creates shopping conversation, and leads to an elevation of sales conversion. In 2024, let’s increase our diamond camaraderie and team spirit. May we each be reminded that LGDs are a fantastic technology meant to support the diamond industry worldwide - not to compete with it. Also, please remind yourself that the consumer controls the sale. The selling environment and sales personnel are a mere conduit to establishing and maintaining a prosperous and powerful sales portfolio. Here’s to your January sales exceeding expectations and ushering in your finest sales year yet!