Page 12 - Demo

STRATEGIC STORE CLOSING EVENT
THE LONDON JEWELRY COLLECTION
––– Central Valley, NY –––
The London Jewelry Collection had a position in the Woodbury Common Premium Outlets in New York and chose to close the store after 10 years of operation due to lease considerations. Based on the long-standing reputation of The Gordon Company, the Udell Family chose Gordon to orchestrate the store closing sale event in the late summer/early fall of 2017.
The sale itself was unusual in many respects. Store management had never run a store closing sale and the store itself was located in a major outlet mall. Since this was almost exclusively a tourist destination comprised of mainly Asian and other foreign visitors, promoting the sale event required an entirely “out of the box” strategic plan.
The Gordon Company customizes every sale event. But because the location catered so heavily to tourists with only a negligible local customer base, it required some creative thinking far beyond any other event Gordon Company had done prior to this sale. Half of the store signs were therefore written in Mandarin, and ads were run in specialized media, again with Mandarin text. Even an Asian translator was hired and used at the store to assist in the facilitation of sales.
All of this made it challenging to gauge financial projections, yet the strategy devised and the overall results proved to be outstanding.
The Gordon Company Project Goals:
• Develop an event strategy that would reduce the aged inventory from other London Jeweler stores
• Devise a totally new promotional strategy that would drive traffic to a tourist destination
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