Spinning into 2024, CVD-style, this editorial focuses on how modern merchandisers convert a lackluster sales month into a powerful New Year profit starter.
We’ll begin with LVMH’s Tiffany & Co.
While this iconic retailer doesn’t presently offer LGDs, they’re a clear leader in engagement ring and diamond jewelry sales. Let’s learn how they’re remodeling and why unexpected “sales props” have been deployed within their European concept stores.
Seating for two
“Minimalistic” isn’t the first word most people think of when they hear the name Tiffany & Co.
It’s hard to frame a luxury retailer’s minimalistic mindset when you’re seated below a half a million-dollar crystal chandelier. Updated Tiffany chairs lack armrests and are secondary to cushiony love seats.
Testing overseas, the remodeled shops are airy and almost entirely off-white, except for their trademarked Tiffany blue color.
Couples shop for engagement rings, so the new Tiffany shops offer unobstructed cushiony seating for two. Large enough to fit two individuals, yet small enough to make a couple feel instantly intimate. Eliminating chair arms is less formal and restrictive. Tiffany tables are also tiny. They’re positioned to place your croissant or teacup upon… a marketing maneuver to lengthen a shopper’s in-store time.
An uncluttered off-white motif allows the Tiffany branded blue to resonate with shoppers at their new stores in London and Tokyo. Image: LVMH
That’s why current Tiffany Blue Box Cafes are parallel to their jewelry stores. Or, if you’re in one of their concept stores, a festive self-serve concession stand is featured.
There are dozens of Tiffany & Co. remodeled stores throughout Japan, but now the legendary jewelry brand is opening a Tiffany Cafe in Tokyo with a new hallmark – Tiffany @Cat Street logo and merchandise. If Tiffany were to test LGDs, this inventive side brand would be the place to do it.
The 2024 sales psychology
It’s not surprising that a vending machine didn’t make the new Tiffany interior sketches.
“Vending machines are clumsy, outdated and don’t speak to luxury,” said a former Tiffany executive. That individual was escorted out after voicing constant concerns about installing such.
While the iconic diamond brand maintains an elevated and sophisticated presence, they often leverage calculated risk. Whimsical interactive in-store attractions invite younger customers while keeping their luxury namesake on a pedestal.
“We’ve integrated uniquely playful displays that reflect the wit and humor of Tiffany to create a one-of-a-kind experiential destination,” said Richard Moore, Creative Director of Store Design and Creative Visual Merchandising at Tiffany & Co.
Some Tiffany & Co. European stores offer a French style concession stand. A nod to LVMH’s country headquarters and an inviting, self-serve way to increase shopping time with in-store refreshments. Photo: Tiffany & Co.
As for vending machines, credit card activated teal blue devices are retro appearing, but won’t dispense candy. These machines release Tiffany fragrances. The sales psychology: deliver unexpected interaction and make visitors feel in control via self-shopping while conditioning them to reach for their wallet.
Something blue
A North New Jersey jewelry salesperson is a consistent top performer. “He’s a sales magician!” the storeowner exclaimed. “He closes more sales in a day than our competition does in a week!”
I was invited to witness how this over achiever works his magic. No slight of hand was found, but there were a lot of customer-initiated handshakes. I also noticed a lot of friendly eye contact. That, and the wearing of blue.
Attorneys frequently wear navy blue in court and advise their clients to do the same. Humans equate a deep blue hue to honesty, and this sales executive always wears something blue. It could be his suit, shirt, or his tie. On some days he’ll wear all three – that’s “my trifecta ensemble,” he said. He references the legendary English rhyme, “Something old, something new, something borrowed, something blue.” This phrase is meant to impart good wishes to the newly married couple. Blue is one of the world’s leading colors, if not the most popular. The color blue also symbolizes trust, hence the phrase “true blue.” There’s much more to great sales than wearing a certain color, however.
Here’s your chance to eavesdrop on a masterful LGD conversation. The salesman allowed me to record his talking points to repurpose them here.
The walk around
It was obvious the optics of this jewelry store wasn’t contributing to this salesperson’s mega success. This retailer’s incase layout was traditional and dated. “That’s why I don’t stand behind the counter,” this seasoned salesman said. “I always come to the customer – no barriers.”
While the store is stocked with tasty refreshments, he doesn’t use that offer for the couple he’s about to meet. He does ask a consistent opening question, though: “What brought you here today?” This open-ended inquiry allows him to hone-in on the shopper’s intentions.
This couple is engagement ring shopping and they have done their diamond grading research. They are fixated on diamond value and price. They’re also enamored by LGDs and reference they have “a busy day ahead of them.”
What happened next was a reason for the couple to be seated. Instead of showing engagement rings, this sales person surprises his shoppers with a small tray of loose LGDs.
“This month I’ll be celebrating thirty-five years of helping couples find their right ring. My job is to prepare you so when you walk out you’ll know you did well – no matter where you go and what diamonds you look at.” The couple slowly nods in approval and inches closer to the stones.
“A lot of diamond sales people will reference color, but it’s actually a colorless white diamond you seek. Focus on what you can see,” he emphasized. “If you have the money, the whiter the better. ‘D,’ ‘E’ or ‘F’ are completely colorless. ‘G,’ ‘H,’ ‘I,’ and “J” are near colorless.”
LGD growers and retail partners are leveraging Pantone’s peachy Color of Year via variances of pink LGDs often set in rose gold. Photo: Brilliant Earth
He pauses. Noticing the customer’s gaze he says, “As you go down that line the stone gets a little warmer; a little yellow tinge. “Oh, we want as colorless as we can get,” the male of the couple insists. “Well, I never recommend going below a ‘G’ “ the salesperson suggests. The couple’s reply said it all… “We definitely budgeted for an ‘E’ or better.” To which the salesman exchanges trays. Now, two LGD ‘E’s’ and two ‘F’s” ranging from 1.5 to 3.2 carats are on display. “Could we see this one in a ring?” the female shopper asked pointing to a 2-carat ‘F’ colored LGD`. “I’ll do the next best thing,” the diamond expert said reaching for an 18kt white gold, 2.3 carat LGD ‘F’ colored solitaire ring.
The diamond tray transition was as smooth as the supercharged sales conversation. It lead to the fastest engagement sale I’ve ever seen. Watching his other sales conversations proved equally surprising. Yet the way he closed each interaction was unforgettable. He handed each shopper his business card. After they took it, he reached for his pen and asked for the card back. He’d say, “If you think of any questions, feel free to give me a call.” I later asked him why he didn’t have his mobile number printed on the card. “That takes all the personalization away,” he stated. Giving out your business card is expected. Asking for it back to write your mobile number on it was not. From the response each couple gave after accepting his card the second time, I could see why this gesture was so compelling.
Maybe there was some magic going here after all.
The plaid LGD
Why would any retailer waste precious display space to highlight an engagement ring that no one will try on? Because “the plaid sells the plain white shirt.” This old apparel reference stresses the importance of merchandising the unusual. Not to sell it, but to use it as a catalyst to sell a lot of traditional engagement rings that may have otherwise been overlooked.
This method embraces the element of surprise. Highlighting an odd ball offering turns heads and provides an instant visual comparison to traditional rings thus giving them a clever advantage.
While some may find this LGD engagement ring to be unattractive, it made you look, and that’s precisely the point. Photo: Barker’s Jewelry
Color me multi
A superior advantage LGD have over natural diamonds is color. Most could never imagine owning a large fancy colored diamond. Hollywood has been busy making the youth of America desire such though.
Barbie, a $1.4 billon blockbuster film released in 2023 had a level of on-site protection typically reserved for a US President. This was due to constant wardrobe changes each featuring larger than life multi-colored diamonds and precious gem jewelry worn by the lead actress.
Smart retailers are stocking up on colored LGDs by mirroring some of the world’s most sought after multi-colored diamond jewelry. Offering multi-colored LGD designs with down to earth prices is paying off. While the practice of duplicating a luxury brand’s protected style is ill advised, being inspired by such and selling with integrity is always on the menu. ◆
Left: Margot Robbie wears the famed Chanel ’95 necklace as Barbie in Warner Brothers fantasy comedy blockbuster. Photo: Leavesden Right: One of Saks Fifth Avenue’s most popular jewelry design is a multi-colored diamond ring by Fabergé
Dan Scott is a Brand Architect with New York/metro-based Luxe Licensing, a marketing, video production and licensing agency catering to bespoke clients including Dior, Gucci, Harry Winston, and introducing demi-fine, natural and man-made diamond designs. Dan may be reached by texting + 1 201 294 3697, emailing dans@luxelicensing.com or visiting www.LuxeLicensing.com. Dan Scott also operates a non-profit organization: The Mined and Man-made Diamond Alliance (MMDA.world), the only unbiased mined and manmade diamond global group supporting both sides of the diamond and gemstone sector, to build unity, provide research and bridge the diamond divide. MMDA.world hopes to work closely with the Natural Diamond Council (NDC) and the The International Grown Diamond Association (IGDA)
