CD Peacock’s Post

Consider the psychology behind the customer drive to buy luxury jewelry and meet your sales goals. Read the article from National Jeweler: https://hubs.la/Q02S_jJD0 #JBTLearns #JBTKnowledgeShare #LuxurySales #LuxuryJewelry #JewelrySales #Jewelry

POV: You’re a Watch Reseller in New York City I’m on a mission to build the world’s longest resume. This is what I learned while working as a Watch Reseller with Julia Watchbyjuls: 1. The secondary market for luxury watches is massive, valued at $22 billion and growing rapidly. Resellers not only connect buyers with rare and sought-after timepieces but also with beautiful, everyday luxury pieces they can wear regularly, combining style with function. 2. New York’s 47th Street Diamond District is an iconic center for luxury watches and jewelry. With over 2,600 independent businesses packed into a single block, it’s known for its rich history, expert craftsmanship, and global reputation. 3. The secondary market for watches, especially for brands like Rolex, Cartier, and TAG Heuer, typically involves a 20-30% markup. Vendors purchase pre-owned watches, then negotiate the selling price with buyers. Even after the markup, these watches are often cheaper than buying new, making the secondary market a smart option for collectors and wearers alike. #career #salary #luxurywatches #watches

In a recent tale of #luxury gone hilariously awry, a seller in #Saudi Arabia is marketing a pair of flip-flops for nearly $1,200, causing a stir on the internet. People in India, where similar #flip-#flops cost around $4, are particularly amused. This highlights how a brand's name can magically transform everyday items into luxury goods. Luxury brands like #Ferrari, #Louis #Vuitton, and #Hermès have perfected the art of #creating must-have items that scream exclusivity. However, sometimes they push the envelope so far that people are left scratching their heads, like with these $1,200 flip-flops. Social media had a field day with this, with users joking about the absurdity of the price. This isn't an isolated incident. Other brands, like #Balenciaga and Gucci, have also sold mundane items at exorbitant prices. Balenciaga once launched a "trash pouch" for $1,700, and #Gucci sold distressed stockings for nearly $200. #Prada even offered a simple paperclip for $185. These brands rely on their reputation, history, and the allure of exclusivity to justify the high #costs. They've mastered the art of making customers drool over new offerings, even if it means taking out a second mortgage. But sometimes, the plot seems entirely lost. An investigation into #Dior and #Armani revealed shocking practices. Dior pays its suppliers $57 to make a bag that sells for $2,800. Similarly, Armani's bags cost $99 to make but sell for $1,900. These revelations have sparked debates about whether consumers are paying for quality or just the brand name. As someone who owns items from these brands, I can attest that it did give me a sense of validity and social recognition. However, I now find myself questioning how many bags, belts, and shoes from such high-fashion labels would ever be enough. It's a never-ending cycle. Seeing how these fashion brands release new articles, it feels more like they're mocking us than selling goods. This is compounded by how newcomers are treated by salespeople, who often act entitled, making the actual buyers feel insignificant. Having said that, I must admit, I might still be tempted to buy another bag someday...

Last week I spoke to 5 jewelers in Mayfair and they all had the same problem.. ‘Footfall has dropped and I don’t have time to find new customers’  I realised a lot of these CEO’s are cash RICH and time POOR My natural response was..   ‘But why look for new customers? When you should have new customers looking for you’ I was shocked that none of them had a clear plan to help their ideal customers find them    So I gave them these 3 simple solutions.. > Optimise your marketing to target your ideal customers and avoid everyone else > Isolate your brand to cut off your customers optionality and remove competition  > Give your ICP a clear and frictionless call to action The problem with most jewellery brands is that they focus on quantity and not quality But the truth is with just 5 quality customers a month you can generate well over £600k in revenue So the goal of any luxury brand should be 1. Identify where your ideal customers are most of the time 2. Market your jewellery to them in a sleek and elegant manner 3. Provide a clear call-to-action and make it easy for them to take to next step in buying your jewellery If your ideal customer is someone who lives in London and has disposable income then you’ll already know that this ICP rarely uses their own vehicle to travel around London We’ve now made it possible for jewellery brands to sell their pieces directly to the affluent Londoners who use our iconic London taxis as their main form of transport To learn more about selling your jewellery to over 300,000 people travelling in London. You can send me a dm or use this link to whatsapp me https://lnkd.in/eiEQKFEW

Ever wonder why some brands, like Tiffany & Co. and Gucci, can price their items in the stratosphere and still have people lining up? Or why travellers fork out thousands for a first-class flight experience? 🤔✈️ It's all about perceived value. 💲 Perceived value isn't just about the actual product; it's the experience, the brand prestige, and the feeling of exclusivity. Take a Tiffany & Co. necklace or a Gucci bag, for instance. You're not just buying a piece of jewellery or a handbag; you're buying into decades of heritage, craftsmanship, and the status that comes with wearing these brands. 💎 And that first-class flight? It's more than a seat; it's about the luxury, the comfort, and the elevated service that makes you feel like royalty. 👸 So, if you've ever been told your prices are too high, remember this: Maybe you aren't too expensive; maybe you just haven't found the right audience yet. The right customers understand and appreciate the value of what you offer. Your task is to find them, connect, and watch as they embrace the exclusive experience your brand provides. 👐 #branding #branddesing #businessbranding #brandstrength

Are you a lover of luxury jewellery? If so, you may be wondering how to confidently make informed buying decisions when shopping for these prized pieces on Amazon. With the vast array of options available, it can sometimes feel overwhelming. However, fear not! #Amazon #informedbuyingdecisions #luxuryjewellery

Ever wonder why some brands, like Tiffany & Co. and Gucci, can price their items in the stratosphere and still have people lining up? Or why travelers fork out thousands for a first-class flight experience? It's all about perceived value. Perceived value isn't just about the actual product; it's the experience, the brand prestige, and the feeling of exclusivity. Take a Tiffany & Co. necklace or a Gucci bag, for instance. You're not just buying a piece of jewelry or a handbag; you're buying into decades of heritage, craftsmanship, and the status that comes with wearing these brands. And that first-class flight? It's more than a seat; it's about the luxury, the comfort, and the elevated service that makes you feel like royalty. So, if you've ever been told your prices are too high, remember this: Maybe you aren't too expensive; maybe you just haven't found the right audience yet. The right customers understand and appreciate the value of what you offer. Your task is to find them, connect, and watch as they embrace the exclusive experience your brand provides.

Are you a lover of luxury jewellery? If so, you may be wondering how to confidently make informed buying decisions when shopping for these prized pieces on Amazon. With the vast array of options available, it can sometimes feel overwhelming. However, fear not! #Amazon #informedbuyingdecisions #luxuryjewellery

Attention luxury jewelry enthusiasts and collectors! We've just released an essential guide for anyone considering selling their Harry Winston Snowflake Collection. This comprehensive resource covers everything from understanding the collection's unique value to navigating the luxury resale market. Key takeaways: • Valuation insights for Snowflake pieces • Tips for preparing your jewelry for sale • Strategies for finding the right buyer Whether you're looking to upgrade your collection or simply curious about the market, this guide is an invaluable resource. Don't miss out on maximizing the potential of your luxury assets. Read the full article on our website and stay ahead in the world of high-end jewelry. #LuxuryJewelry #HarryWinston #InvestmentInsights