STORES Magazine - January 2018 - 55

with the app to determine value on the
secondary market and then sell easily
to Govberg Jewelers, if desired - and
explore all things horological (the study,
art or skill of making watches). Watchbox
has drawn new customers to the retailer,
Govberg says.
Blogs on the Govberg Jewelers website
are brimming with information from
true watch experts to meet the needs
of aficionados; recent topics included
"How to Read and Use a Tachymeter."
Another recent venture for the retailer
was its acquisition of WatchUWant.com.
Once the name is changed, the site will be
Govberg Jewelers's international platform
for all preowned watches to facilitate
buying, selling and trading.
BUILDING TRUST
Govberg has designed what he calls
"Retail 3.0," a new way to sell luxury
items to customers.
"Retail 3.0 includes four components
of omnichannel solutions for luxury
sales and reinventing retail," he says. An
integral part of luxury sales is "learning
commerce," consumers learning about
products online.
"You can lose customers if you just
depend upon the store to educate the
customer," Govberg says. Beyond its
website, the jeweler uses YouTube and
other social media to help customers learn.
Govberg Jewelers has a complete studio
at a retail location in Philadelphia where
customers can be on a show produced
in-store - a fun place to be, with many
events to educate and entertain. "It really
creates a buzz when you have a studio in
your store," he says. "Education must be
merged with entertainment."
Learning commerce feeds into
ecommerce, or "click and buy." Govberg
says standard ecommerce on its own has
been a failure for high-end products such
as watches priced at $4,000 or more.
Luxury purchases inspire a different level
of worry. Customers must have more
confidence in luxury purchases than they
do when buying a $150 pair of shoes.
"In luxury, we decided to coin a
different level between ecommerce
and bricks-and-mortar - personal
commerce," Govberg says. "This means
STORES.ORG

"The No. 1 luxury today is
time. We put time savings into
every piece of our business
model. We learn all we can
about our clients' habits and
preferences when buying."
- Danny Govberg, Govberg Jewelers

the customer can go from education to
the phone, learning commerce to a phone
call, ecommerce to a phone call." Once a
customer is on the phone, it is much easier
to gain his trust.
Govberg Jewelers handles phone sales
differently from most retailers. There
are no transfers from one salesperson or
department to another.
"When a customer calls us, the person
on the phone is an expert and can answer
all questions," Govberg says. "We try to
eliminate any friction between the client
and the store."
THE PERSONAL TOUCH
"The No. 1 luxury today is time,"
Govberg says. "We put time savings into
every piece of our business model. We
learn all we can about our clients' habits
and preferences when buying."
Personal commerce leads to "personal
touch," he says, which is building the
highest level of trust with customers. This
includes meeting clients outside the store,
on the golf course or in a restaurant.
Data mining is another facet of
Govberg's Retail 3.0 practice. "It's easy
to data mine online but not so easy at the
retail level," he says. "When clients come
in the store, we're on the phone trying to

find out what other watches they own,
what are their hobbies. We find just a
couple of things that make it easier to
communicate with them in the future."
If Govberg Jewelers discovers that a
customer owns 10 watches, the retailer
might call and ask if the customer would
like to sell or trade one, providing a
reason to engage and get him into the
store, a constant aim.
Having good sales data is the
least-worrisome part of marketing to
customers, Govberg says. "If you educate
them and establish their trust, even if you
do not get the sale that day, you may in
the future."
Govberg Jewelers has moved from
paying its salespeople solely based on
commission. Sales associates learn that
luxury sales do not just occur on the spur
of the moment in stores, they are taught
about using social media and they are
given their own company pages.
"People don't always follow brands
on social media," Govberg says. "They
follow people. The biggest influencers
are people."
Sales associates become influencers with
professionally created shows on YouTube
that generate calls from customers
worldwide. Customers often call the store
to speak with specific sales associates.
"Stores can be local, but you have to
think global," Govberg says. "It works
both ways."
Virginia-based D. Gail Fleenor has written
hundreds of articles about retail, technology and
consumer research following nearly two decades
as a supermarket research manager.
STORES January 2018 55


http://www.WatchUWant.com http://www.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - January 2018

Editor’s Page
President’s Page
Retail Politics
NRF News
TRENDS
Retail People
Disruption Is the New Normal in Retail
20 Ideas Worth Stealing
Drug Store Cowboy
C2W
TECHNOLOGY
WORKFORCE MANAGEMENT
OMNICHANNEL
AI
MARKETING
FINANCE
BUSINESS OPERATIONS
STARTUP SPOTLIGHT
SECURITY
HUMAN RESOURCES
POV
Communities
End Cap
STORES Magazine - January 2018 - intro
STORES Magazine - January 2018 - cover1
STORES Magazine - January 2018 - cover2
STORES Magazine - January 2018 - 3
STORES Magazine - January 2018 - 4
STORES Magazine - January 2018 - 5
STORES Magazine - January 2018 - Editor’s Page
STORES Magazine - January 2018 - 7
STORES Magazine - January 2018 - President’s Page
STORES Magazine - January 2018 - 9
STORES Magazine - January 2018 - 10
STORES Magazine - January 2018 - 11
STORES Magazine - January 2018 - Retail Politics
STORES Magazine - January 2018 - NRF News
STORES Magazine - January 2018 - TRENDS
STORES Magazine - January 2018 - 15
STORES Magazine - January 2018 - 16
STORES Magazine - January 2018 - 17
STORES Magazine - January 2018 - 18
STORES Magazine - January 2018 - 19
STORES Magazine - January 2018 - Retail People
STORES Magazine - January 2018 - 21
STORES Magazine - January 2018 - Disruption Is the New Normal in Retail
STORES Magazine - January 2018 - 23
STORES Magazine - January 2018 - 24
STORES Magazine - January 2018 - 25
STORES Magazine - January 2018 - 20 Ideas Worth Stealing
STORES Magazine - January 2018 - 27
STORES Magazine - January 2018 - 28
STORES Magazine - January 2018 - 29
STORES Magazine - January 2018 - 30
STORES Magazine - January 2018 - 31
STORES Magazine - January 2018 - 32
STORES Magazine - January 2018 - 33
STORES Magazine - January 2018 - 34
STORES Magazine - January 2018 - 35
STORES Magazine - January 2018 - Drug Store Cowboy
STORES Magazine - January 2018 - 37
STORES Magazine - January 2018 - 38
STORES Magazine - January 2018 - 39
STORES Magazine - January 2018 - C2W
STORES Magazine - January 2018 - TECHNOLOGY
STORES Magazine - January 2018 - 42
STORES Magazine - January 2018 - 43
STORES Magazine - January 2018 - WORKFORCE MANAGEMENT
STORES Magazine - January 2018 - 45
STORES Magazine - January 2018 - OMNICHANNEL
STORES Magazine - January 2018 - 47
STORES Magazine - January 2018 - AI
STORES Magazine - January 2018 - 49
STORES Magazine - January 2018 - MARKETING
STORES Magazine - January 2018 - 51
STORES Magazine - January 2018 - FINANCE
STORES Magazine - January 2018 - 53
STORES Magazine - January 2018 - BUSINESS OPERATIONS
STORES Magazine - January 2018 - 55
STORES Magazine - January 2018 - STARTUP SPOTLIGHT
STORES Magazine - January 2018 - 57
STORES Magazine - January 2018 - SECURITY
STORES Magazine - January 2018 - 59
STORES Magazine - January 2018 - 60
STORES Magazine - January 2018 - HUMAN RESOURCES
STORES Magazine - January 2018 - 62
STORES Magazine - January 2018 - 63
STORES Magazine - January 2018 - POV
STORES Magazine - January 2018 - Communities
STORES Magazine - January 2018 - End Cap
STORES Magazine - January 2018 - cover3
STORES Magazine - January 2018 - cover4
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