The opinions of the entrepreneur are expressed.
When the most shopping, and retail sales have become increasingly enmity, while the most shopping has occurred, the jewelry of Polacheck stands apart. Calabasas luxury store is more than a store – this weekend is destination. Wealthy clients, Rolex, Papek Philippe and Cartier, enjoying brands, meals and freshness and chatting with a specialist staff.
“I turned my customers into friends” said the owner Brent Poacheck. “It’s important to me to know who is spending money with me, because I hope we will hold 10, 20, 30 years together.”
Ben Tippe started working 101 years ago when opening a small diamond store in Seattle. After transferring to Los Angeles in 1949, he became one of the first American retailers. Polacheck is the fourth generation to use his family.
With a bridal case, which demonstrates ten carat diamonds and watches that can cost over $ 2 million, is not for anyone in Polacheck. However, the most important thing understands the value of the most important: to build many generation relationships and provide a memorable experience. His approach offers valuable lessons for entrepreneurs in any industry.
In one day in a day, Jon Bier Podcast, Polacheck Amazon shared his views on the establishment of a resistant luxury retail business.
Create an experience worth returning
Many luxury retailers feel the same and inhumane in the chains, and Polacheck has become a community center. Converts the store to social destination by completing the store with a drink and sushi.
“If you will spend your money together, wouldn’t be in a big environment?” Polacheck asks.
The key is individual and memorable – employees are specialists in their field to create an atmosphere where customers and their families are not just tolerated.
Set up continuous relationships rather than transactions
For polacheck, businesses to make lunch with customers, which means to organize Geneva trips to auctions with collectors and even customers who are even about the most accurate. Speaking about a customer gift, his team will manage the team’s photos and gift gardens, saving a trip to the store. This individual approach goes beyond single purchases – it directs to customers who are actively outside the state, not a one-time buyer of the state, but also within the range of 15-20 miles that can be part of the store community. Lesson? Luxury retailers are more important to build deep contacts with proper customers and maximize individual sales.
WARNING THE COMPANY MARKETS
Luxury retail successes require vigilance and opportunities before opponents move. Polacheck moved rapidly to provide himself in the topanga area to another seller. Now there is a 3,500 square-meter Rolex boutique, one of about 20 people in the United States. At the same time, he refreshes the flagship store and plans to place the new Patek Philippe.
Choose your customers wisely
With thousands of ordering and limited inventory, Polacheck is carefully solved by each hour fields.
“Selling a section to sell an unit does not mean no sense,” he says.
The team focuses on the radius of 15-20 miles to be buyers, not external areas for fast profit, but to transform long-term customers to long-term customers. The approach means to easily turn the sales easily from selling. But the right customer is not the proper customer, finding the customer, the weight of gold is worth the weight.
Today, Polacheck is expanding new places, including new locations, including soon the Rolex boutique will soon be opened. Polacheck is finally preparing to capture his children, including the daughter of another jewelry store in Vermont, including the next generation of their children’s children.
“Most of my clients go in children, which means we do something right.”