There are three categories of jewelers. A jeweler is either Brick & Mortar (B&M--has a physical store front); Virtual (internet based-- no physical store front) or combo B&M & Virtual. I am not including TV vendors for this article because they only deal in commercial quality and costume jewelry.
Within all three categories of jewelers there are four distinct approaches used in selling based on four customer types: the Discounter, the Bargain Shopper, the Brander, and the Better Thans.
A. The Discounter: The discount shopper isn't particularly interested that an item is top of the line as long as their particular need gets satisfied. They focus on "category needs" not "detailed needs." A discounter buys a car to get from point A to B, not because of how sexy they will look in it or what their neighbors will think. A discounter buys toilet paper, cars, bikes, trucks, & TVs. The rest of us buy Charmin, Lexus, Harley, Ford, and Sony. The Discounters' motto is "Get the job done at the lowest possible price." These are the people that will be in line at 2:00a.m. outside Best Buy in the frigid cold on Black Friday (day after Thanksgiving) in order to get something for as close to nothing as possible.
B. Bargain Shopper: Wal-Mart has proven that most of us are bargain shoppers; quality merchandise at a low price. Unlike the discounter mentality, the bargainer isn't willing to waste the time and effort that it takes to buy at the absolutely, positively, guaranteed lowest price. They want quality merchandise (generally name brand) but at a savings. Bargainers love to compare notes with other bargainers about what a great deal they got on their new Sony DVD or flat screen. Bargainers will make the effort to visit a few stores until they are reasonably sure they've done well and quit shopping. Whereas the Discounters will only tend to stop shopping when they've been to every store in their area. Of course with the internet it's taking longer & longer to "shop around."
C. The Brander: Like the Bargain shopper, the Brander wants quality but he's also looking for an emotional connection with the brand. Something that represents him or her. Something that tells the world who they are. Price is less important to Branders than actually having the item that other people have so they can connect with them. That's why celebrity endorsements work so successfully. If an individual sees a celebrity endorse a product, or better yet actually use the product, they form a bond with the product. "Let's see, Robert DiNiro uses the American Express card. If I have an American Express card, then Robert and I have something in common! We're connected in some cool cosmic way!" Branders want to buy products that other groups tend to buy. These groups are not limited to but include women, men, the wealthy, the affluent, the sexy, the smart, etc. A Brander may not even "need" a product but purchases it anyway because others in their identity group have the same item.
D. The Better Thans: As the title insinuates, the Better Thans honestly believe that on some social, economic, intellectual level they are "better than" others. There's the right religion, the right political party, the right everything. Naturally, for them to be right, many have to be wrong or "less than." Better Than shoppers only want products that the masses can't have and if the masses get it, then they don't want it. Yesterday, I was shopping with my wife and we wandered into Cartier. They had a pink diamond, yellow diamond, & white diamond, tight knit pave, rolling ring that I could produce for about 5K. They were selling it for $52,000! And you know what? They are selling them!? And the reason they are selling them is that they are so expensive. It isn't enough to just own jewelry any more. The consolidators like Costco, Sam's, Wal-Mart, J.C. Penny's, & Blue Nile burst that bubble. People are hung up on where they bought it; when they bought it (the right season); and what they spent. Louis Vuitton has made a fortune as a mega successful brand name because of recognition of their line. When people see someone with one of their hand-bags, every one immediately knows,
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