So often I go into quality jewellery stores that stock expensive gem-set jewellery pieces and Swiss-branded automatic watches and see, there on the most prominent wall, $80 clocks - probably the same kind you would find at a discount department store.
That's like putting a pair of rubber thongs alongside Florsheim men's shoes, or a Holden Astra alongside the latest Aston Martin - it just doesn't fit the offer for your target customer.
If you have customers who are willing to spend $3,000 on a custom-made diamond ring or a Swiss watch, why on earth would you try and sell them an $80, low-grade, unbranded clock?
The missing link is a quality clock story. Use the brand power and reputation of the German and American clock industries to your advantage and reinforce your reputation for quality pieces.
If you cannot put quality clocks on your walls or floors then really, you are better off leaving them blank, focusing instead upon the categories where you do want to tell a quality story.
Customers recognise quality and brands. The Swiss are known for watches and the Germans are known for clocks. With most items in a jewellery store "considered purchase" products, customers are looking for knowledgeable sales staff to help them with their shopping, and they expect to be told the story behind any piece that interests them.
There's no doubt the worldwide clock industry has not done a good job over the past 20 years in training and educating staff - unlike the jewellery and watch industries. But the tide is changing, with some clock manufacturers providing professional training and merchandising support for their branded goods.
There's also another really simple, pragmatic reason for stocking better quality clocks: more profit per transaction. This is coupled with reinforcing your reputation as a retailer of quality goods.
Take a look at the brands of clocks on your wall and ask yourself, "Do they match the rest of my merchandise? Do they give me a point of difference? Can my staff present these clocks as a quality product?"
Many traditional jewellers argue that clocks don't sell but when they are merchandised like diamonds, watches or any other category in your store, then they do sell. If you have a thundering Grandfather clock sitting over in the corner with no price point, no brand identification and no one in the store knows about the thing, it's no surprise it won't sell.
I've seen many independent jewellery stores with the one grandfather clock and perhaps a mantle clock sitting on the side.
Nine times out of 10, the product has been sitting there for a few years. Again, frankly, I'd suggest retailers got rid of them and used the space productively for something the market wants or make the decision - since no one else in town has got the business - that you are going to use clocks to reinforce your point of difference. And one of the best places to start the process is to talk to a number of clock suppliers.
From your supplier you should get reasonable assistance in range planning and stock selection, visual merchandising and point of sale support and local advertising materials, as well as specific staff-training sessions for all staff.
Clocks won't sell themselves; they need a story and a range behind them. How many rings would you sell if you only stocked one or two? Like any business - you need to look like you are in the business, and your staff must have the knowledge to present the product confidently.
The clock industry does not compete with the watch or jewellery industry. The players are smaller, but no less innovative. Over the years, the standards of the few remaining manufacturers have risen immeasurably but clocks are the under-merchandised category for today's quality jewellery store. Ensure you have the right clock range for your customer base and they will pay dividends for you.
About the author
Name: John Cookson
Company: Timepieces Australia
Position: Director
Qualifications: Fellow of the Australian Institute of Company Directors and the Australian Marketing Institute
Years in industry: 5, with 25 in consumer product marketing
Soapbox is a monthly column that aims to allow industry figures the opportunity to discuss specific industry problems and how they can be solved. If you would like to appear in soapbox and have your say, please contact the editor on 03 9696 7200 or email: ajed@gunnamattamedia.com.au