In “Kay, Zales, and Marketing Diamonds to the Middle-Class Man”—a recent feature for Racked—Chavie Lieber wrote about Signet Jewelers, the parent company that owns such household names as Kay Jewelers, Jared, and Zales. Signet became the largest specialty jewelry company in America by targeting the midmarket jewelry segment, knowing their customer base, and doing some serious marketing. Trust also plays a major role in jewelry purchases, and Signet has honed customer trust via an unlikely strategy: store location.
Location is another incredibly important factor in the company’s success, says Angie Ash, executive vice president of jewelry marketing firm Fruchtman Marketing. Stores for Signet’s three largest brands (Kay, Jared, and Zales, which make up 41, 21, and 14 percent of the brand’s sales, respectively) are strategically placed. Most Kay and Zales storefronts are located in suburban malls populated with shoppers, while Jared storefronts are “normally free-standing sites with high visibility and traffic flow, positioned close to major roads within shopping developments,” as per the company’s 2015 annual report.
This emphasis on location not only correlates to sales, it also helps build brand recognition among shoppers.
Echoes Ash, “A customer that walks past the same mall jewelry brand every single week is going to eventually feel comfortable enough going when he’s ready to buy something. These mall jewelers also don’t have many barriers. They are an open storefront where people can go right up there and talk to an employee. In most cases, they also have price tags so shoppers can easily look at the items and see what they can afford.”