member spotlight simplexdiam

JA Supplier Member SimplexDiam have been the source for closeout diamonds and closeout jewelry in the fine jewelry marketplace for three decades, selling to more than 1,500 retail accounts globally. Recently, they launched consulting services to help jewelers maximize their assets with increasingly-necessary event sales, including store closings, retirement, and consolidation events. Director Darren Fries discussed their new consulting division with us, while offering advice for jewelers on planning for retirement.

Why did SimplexDiam decide to offer consulting services?

This was a division that Simplex contemplated on doing for a long time. It seemed like a natural fit as one of the largest closeout buyers in the industry and being able to offer the inventory during our sale promotions is a terrific service for our potential customers.

What challenges for retail jewelers do the new consulting services address?

The challenges facing retailers today are so great. Between the internet companies, shopping channels and the buying habits of new customers creating effective marketing plans are really challenging. The promotions we put together are unique in itself as each retailer faces its own challenges. There is no one particular way to solve everyone’s issues each situation whether it’s the fact that the retailer is over inventoried or they don’t have enough of the correct inventory creates different potential sale promotions.

What sets SimplexDiam apart from businesses with similar services?

When we started the division it was our vision to provide exceptional services at reasonable pricing. I truly think the inventory capabilities that can be provided by Simplex puts us at another level.

What is a piece of advice you would offer to retailers nearing retirement?

Retailers nearing retirement need to prepare far in advance of their actual retirement date. Whether they hire a professional or not, they should look to a consultant to help guide this process. Developing a plan in advance will make this process a lot more effective. There are issues that need to be addressed such as how to maximize the conversion of your assets into cash. Things like potential volume, inventory levels, advertising budgets are just a few of many issues that need to be addressed.

What's the question you get asked most by jewelers?

"Why should I hire a professional consulting company to help with my sale?" Not every situation requires a professional sale consultant. However, like I have told hundreds of potential clients, when you need legal advice you hire an attorney or if you need help with your taxes you hire an accountant. In many cases, a professional sale consultant will more than pay for themselves when doing these events.

To learn more about SimplexDiam services and how they can help your jewelry business, visit Simplexdiam.com
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