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Platinum: The Power of Three

Platinum Guild International wants you to remember that there's power in numbers. You can dramatically multiply the revenue from your platinum bridal sales by turning one into three. The platinum bridal sale is not merely the chance to sell one platinum engagement ring—it's a three ring sales opportunity.

That's why all platinum consumer ads will now feature all three rings to reinforce the message that both partners deserve the ultimate in precious metals. Each platinum engagement ring you sell is the beginning of a platinum relationship that can only be fulfilled with platinum bands. Two people, three rings.

Wedding rings may be the jewelry category in your store with the most potential for increased sales, in particular men's bands. Although our culture places the most importance on the engagement ring, the wedding rings are the real symbol of the union.

"It's a very interesting finding of our research," says Huw Daniel, president of PGI USA. "There is so much emphasis on the engagement ring but it's just a statement of intent. The wedding band is where the rubber meets the road. It's not given the emphasis it deserves as the primary symbol of a marriage. Wedding bands are a big opportunity for the jeweler."

Introducing wedding rings and their symbolic role into your customer's mind as early as possible, most conveniently at the time of the engagement ring purchase, helps to convey their importance. Additionally it helps to ensure the additional sale at a later date. Retailers who fail to link the sale of the engagement ring and wedding band are more likely to lose the second purchase to another retailer. Some stores offer layaway or other incentives for couples to return for the wedding band purchase.

Although matching bands are a thing of the past, most couples do prefer to have the same metal for the two rings, especially if it is suggested. Men are open to the choice of platinum for their own ring, especially if they have purchased platinum for the engagement ring. They generally have no idea of the wide selection of men's rings available today and the fashionability of platinum and diamonds for men.

The reward for retailers who approach every sale as a three-ring platinum sale is a higher transaction size and larger profit dollars.

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Three rings by Jeff Cooper, (800) 637-9873.
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Three rings by Hearts On Fire, (800) 343-1224.