Stocking platinum sells platinum, PGI says
By http://www.nationaljeweler.com
Platinum Guild International’s (PGI-USA) 2011 Mystery Shopping Analysis reports that the likelihood of a customer returning to a store to purchase platinum increases significantly when inventory levels of platinum bridal jewelry are 25 percent or higher.
“You can’t sell platinum unless you stock platinum,” John Green, president of Lux Bond & Green, said. “Brides and grooms rely on us to show them the finest jewelry available. Platinum wows them. So we stock platinum because it sells.”
The analysis found that the 25 percent platinum stock inventory threshold positively affected the consumer’s desire for the jewelry. Retailers carrying more than the 25 percent found that more than 70 percent of consumers would consider purchasing platinum engagement rings and wedding bands.
The report also suggests that sales associates’ dedication and belief in platinum is affected by the store’s commitment to inventory of the metal. Furthermore, PGI says that with the price of platinum and gold so close, “there has never been a better time to increase platinum’s share of bridal inventory.”
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