The Five Ws Of Selling To WomenPosted on Feb 09, 2015 by admin  | Tags: Main  | Comments (0)

By Marjorie Stevens, Communications Director

Well, it’s almost Valentine’s Day – or as some of us call it, Singles Awareness Day.

Valentine’s Day is BIG in the jewelry industry, I don’t have to tell you that. If you’d have seen

the stack of work orders in my inbox, you’d know that our jewelers have been ramping up for

hearts-and-flowers season long before last Christmas.

Most of the advertising centers around the types of jewelry that women want men to buy for

them. After all, it’s tradition. But if you want your business to grow, once in a while you have

to let tradition ride in the back seat and look at something new, or new-ish, or new to you. In

this case, I want you to throw tradition in the trunk – just for only a few minutes – and think

about another important market: (cue the drum roll and the echo) The Female Self

Purchaser.

In my family, a woman purchasing jewelry for herself is the norm. My mother supported more

than a few international economies; jewelry (we’re talkin’ the good stuff) was her travel

souvenir of choice. Yet for many fine jewelers, the female-self-purchaser remains an almost-

unknown, almost-untapped market.

And that’s a shame. If you’re not actively pursuing this market, you’re losing money.

According to a New York Times online article, “women are not waiting for a man to buy them

jewelry. They are buying what they like, when they want.” The article noted that women

control $20 trillion in annual global consumer spending, and that they’re often spending a

healthy portion of that on fine jewelry for themselves. Henri Barguirdjian, operations leader

for Graff Diamonds in the United States, was quoted in the article that about 25% of their

customers are women buying jewelry for themselves.

So how do you court this burgeoning market? Think back to those Five Ws you learned in

high-school composition class: Who, What, When, Where, and Why.  First, the Who. Think

of Who your customers would be. The typical female self purchaser tends to be over 40 and

has achieved a healthy level of wealth, often through success in her career.

Next, think about What your female self purchasers would buy for themselves. This is tricky,

because it’s a matter of personal choice. But it’s also a matter of Where and When they

would wear the jewelry. Especially for career women, look at adding more classic, stylish

pieces that can be worn every day (think high-end watches as well as other jewelry). Let’s

face it, no matter how beautiful those statement earrings are, they’re not the best choice for

the boardroom, or the hospital, or the courtroom.

Then think of Why she may be purchasing this. More often that not, it’s to mark a special

event in her life – maybe a raise or a bonus at work, reaching a personal goal, or celebrating

a milestone. Plan your advertising message accordingly, perhaps spun toward the idea that

she earned this or she owes it to herself to splurge. The message will be even more

attractive if you bolster it with the message that jewelry doesn’t wear out; it can be passed

down and cherished for generations to come. 

With all this in mind, you can haul the hearts and flowers back out and return to your

regularly scheduled Valentine’s Day marketing program, already in progress. But when

you’re done, take a good, long look at what you can offer the female self purchaser, and

keep that product and message prominent. And if you’re in my ‘hood, you may want to jot

down that I have a certain affinity for all things aquamarine. Just sayin’.