JIC’s Marketing 101: Go for the Gold

In the final installment of “JIC’s Marketing 101” Tips Series, JIC’s Amanda Gizzi says retailers should consider buying back gold jewelry, as a way to entice customers to buy from their stores. “Everywhere you turn, consumers are faced with companies offering to buy their gold.  We always tell consumers to only deal with reputable jewelers and that is YOU!,” explains Gizzi. “Offering to buy their old, broken or pair-less earrings can be a great way to bring new customers into your store.” 

When buying back gold jewelry, Gizzi advises retailers to:

• Offer to trade their old jewelry in for new jewelry.
• Instead of handing them cash, hand them store credit.  It is a win, win.  

Comments

[Jewelers of America]

Hi Valerie,

Thanks for your question. Requirements for buying back gold vary depending on where you’re located, so you should check with local officials to see what they specifically require. For more information, we also recommend you read these two earlier tips:

Protect Yourself When Buying Back Gold (http://tips.jewelers.org/2009/08/protect-yourself-when-buying-gold.html
Go for the Gold Buyback (http://tips.jewelers.org/2008/06/go-for-the-gold.html)

Best,
Susan Thea Posnock,
Jewelers of America Public Affairs Manager

[Valerie Friscia]

Do you need a permit to exchange their gold?