{"id":22071,"date":"2018-01-11T08:52:34","date_gmt":"2018-01-11T13:52:34","guid":{"rendered":"https:\/\/www.jewelry-secrets.com\/Blog\/?p=22071"},"modified":"2018-01-11T08:52:34","modified_gmt":"2018-01-11T13:52:34","slug":"credit-limits-make-you-spend-more","status":"publish","type":"post","link":"https:\/\/www.jewelry-secrets.com\/Blog\/credit-limits-make-you-spend-more\/","title":{"rendered":"CREDIT LIMITS MAKE YOU SPEND MORE"},"content":{"rendered":"
\"Jewelry<\/div>\n

Charge It!<\/h2>\n

\nFinancing is a way of life<\/strong> at the jewelry store.<\/p>\n

\nBut it can also be tricky<\/strong>.<\/p>\n

\nOn one hand, I love it, it helps me sell more jewelry<\/strong>. In fact, I use it as a selling tool<\/strong>…


\nEspecially with engagement rings. Customers who are looking at rings, and sitting on the buying fence<\/strong>, will lead me to say things like:<\/p>\n

\n“Why don’t we just fill out a quick application and see what your credit limit is?<\/strong>“<\/p>\n

\nGenerally customers will say “SURE<\/strong>“, because it takes the heat off them<\/strong> to make a Yes or No decision. It overcomes that difficult moment.<\/p>\n

\nSo I check their limit, and if it’s good<\/strong>, if it’s high<\/strong>, I’ll come back to the counter and say something like:<\/p>\n

\n“You’re all approved, do you want us to wrap it up for you?<\/strong>”<\/p>\n

“YES” is usually the Response<\/h2>\n

\nSo never did the customer actually say “Yes I’ll take it…<\/strong>” Rather, they just said “YES<\/strong>” to wrap it up.<\/p>\n

:) See how that works?<\/h2>\n

\nSmooth…<\/strong><\/p>\n

\nHere’s something else that works…<\/p>\n

Up-Selling<\/h2>\n

\nBecause if their limit is high, chances are, the customer will SPEND MORE!<\/strong><\/p>\n

\nLet’s say they decided on an engagement ring selling for $2,500<\/strong>. I’ll say: <\/p>\n

\n“They’re approved you for 6 grand<\/strong>, do you want to look at that more expensive engagement ring<\/strong> you liked and see what the payments are?”<\/p>\n

It works like a charm.<\/h2>\n

\nPeople are easy to upsell<\/strong> because of their limits. <\/p>\n

\nSo while it benefits salespeople<\/strong> and the jewelry store<\/strong>, and it may also benefit the customer (for they’ll be able to get a much bigger and better ring than they ever imagined)…<\/p>\n

You have to be Careful!<\/h2>\n

\nSure interest free financing<\/strong> sounds incredibly tempting<\/strong>. And sure a $6,000 ring will “WOW<\/strong>” her…<\/p>\n

\nBut you still have to make the payments<\/strong> (And don’t ever miss a payment or be late, because you’ll default into a very high interest bearing account<\/strong>)…<\/p>\n

It could be out of your Budget<\/h2>\n

\nIf you’re thinking about financing options, decide on your pocket book limits first<\/strong>. See what feels comfortable to you, doesn’t stress you out, you don’t want to be maxed.<\/p>\n

\nBecause it needs to be affordable<\/strong>. Just because banks (and stores) offer you more, doesn’t mean you should take it<\/strong>.<\/p>\n

Set a Budget<\/h2>\n

\nStick to it<\/strong>.<\/p>\n

\nEveryone wants that “OMG<\/strong>” moment when you get down on one knee and open the box…<\/p>\n

\nBut trust me, you have an entire life to upgrade<\/strong>. You don’t need to do it all in one day.<\/p>\n

Right?<\/h2>\n

\nThe average engagement ring sale<\/strong> is just $3,000…<\/p>\n

\nCredit limits are awesome<\/strong>, and helpful, but don’t overextend yourself<\/strong>.<\/p>\n

\nBe careful.<\/strong><\/p>\n

She’ll still love you.<\/h2>\n

\nAnd the ring<\/em><\/strong>.<\/p>\n

\nBut she sure won’t like the debt<\/strong>.<\/p>\n

\nCheers! :)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Charge It! Financing is a way of life at the jewelry store. But it can also be tricky. On one hand, I love it, it helps me sell more jewelry. In fact, I use it [Read More…]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":22073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jewelry"],"_links":{"self":[{"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/posts\/22071"}],"collection":[{"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/comments?post=22071"}],"version-history":[{"count":0,"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/posts\/22071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/media\/22073"}],"wp:attachment":[{"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/media?parent=22071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/categories?post=22071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jewelry-secrets.com\/Blog\/wp-json\/wp\/v2\/tags?post=22071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}