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SurveysMay 15, 2017
50 Jewelers/50 States: Connecticut
Soon to reach 120 years in business, one of the keys to Lux Bond & Green’s success is being open to changing with the times.
Connecticut jeweler Lux Bond & Green opened in 1898 in Waterbury. Today, the company has six store locations, four in Connecticut and two in Massachusetts.
West Hartford, Conn.--Amid the changing and challenging retail environment, the editorial team at National Jeweler wondered how macro trends--from online shopping to serving new generations of consumers--have affected jewelers in disparate parts of the country.
In order to find out, we launched a series called 50 Jewelers/50 States, in which we interview one retailer in each of the 50 U.S. states.
Connecticut retailer Lux Bond & Green opened in 1898 under the leadership of M.A. Green.
Nearly 120 years later, Green’s great-grandson, John A. Green, who joined the family business in 1978, is the president and CEO.
Today, Lux Bond & Green has six store locations, four in Connecticut and two in Massachusetts.
Green spoke to National Jeweler about the importance of staying open-minded and embracing new methods of communication.
National Jeweler: What’s the biggest challenge your store is facing?
John A. Green: I think the same thing that challenges every brick-and-mortar business today: evolving your business in today’s new retail world.
People’s habits are changing, the way people shop is changing, the way we do business is changing, and we have to bring a great professional staff into those changes.
My challenge really is bringing 90-plus people into the new retail world.
NJ: What’s the top-selling item or brand at your store?
JAG: The two-top selling categories are definitely bridal and watches.
NJ: What’s the most popular style of engagement ring with your clientele?
JAG: The round brilliant is still our bread-and-butter engagement ring, ranging from 1 1/2 to 2 carats. We pay close attention to the beauty and value of the gemstone.
Our customers’ favorite setting is always platinum with brilliant diamonds on the side and most ladies prefer four prongs set low. It’s both practical and beautiful.
NJ: Describe your regional customer.
JAG: The customer is changing. In the olden days the customer was a well-established and well-educated business man or woman who loved great values and great designs from a name that they could trust.
That’s yesterday. Every day it’s different.
Today it’s going to be a combination of a very young person or a very old person who wants to be treated with respect and wants
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to be communicated with the way they want to be communicated with.
So everything we knew in the past is out the window except our core values: Respect, confidentiality, quality, value and exceptional service.
Some people still want a phone call, some people still want an e-mail, some people want a text, some people want communication in the form of a letter, and some people want you to come to their office or their home. So we need to ask them because everyone is different today.
Some people say, “Just leave a message on my voicemail.” It’s amazing. And it’s not necessarily age specific except for probably with the younger age category, which will most likely prefer a text.
In the olden days how did you communicate with somebody? You did a radio commercial or you did an ad in a physical newspaper, that’s how you communicated with people. You didn’t call them up, you didn’t write to them, you unlocked your front door and you waited for them to come in.
If you do that today, you’re dead.
NJ: What’s your internet and social media presence like? What accounts do you have or actively use?
JAG: We’re actively using Instagram and Facebook and we’ve had an internet store tied to our inventory for 15 years. I guess we were--in our own very small way--leaders in that category and it’s evolving daily because it has to.
It’s very difficult to measure which platform is the most successful for us. Advertising and marketing have always been difficult to measure.
With all of the analytics that we’re getting today I actually think it’s even more difficult to measure. Although you can sit there and look (at different figures), true measurements are at the end of the month. The question is, “Did you have a good month?” Not, “How many people opened your e-blast or how many sales did you make on the internet?”
We’re not an internet-only company. It’s a small percentage of our overall business. So we believe that if we’ve had a good month as a company, which includes our internet store and includes our social media platforms, that we’re actually reaching and touching more people.
Because we do know that even people who shop with us physically have started going to the internet and social media to help them make a purchase.
NJ: What’s the best piece of advice you’d offer to other independent jewelry stores?
JAG: Listen to your customers. A lot of people want to tell their customers. Listen to them. If you do, they will tell you what they need.
The world is changing so quickly and that’s good. The problem is to make sure to be the agents of change.
If the owners aren’t the agents of change for their company, then the company won’t change.
NJ: What’s a fun fact about you we can share with our readers?
JAG: I met my wife at the GIA.
It was 1978 at the Santa Monica campus, which was pretty cool back then. She was in the jewelry business too.
We were supposedly the 17th couple to meet at the GIA in class and then get married.
So everything we knew in the past is out the window except our core values: Respect, confidentiality, quality, value and exceptional service.
Some people still want a phone call, some people still want an e-mail, some people want a text, some people want communication in the form of a letter, and some people want you to come to their office or their home. So we need to ask them because everyone is different today.
Some people say, “Just leave a message on my voicemail.” It’s amazing. And it’s not necessarily age specific except for probably with the younger age category, which will most likely prefer a text.
In the olden days how did you communicate with somebody? You did a radio commercial or you did an ad in a physical newspaper, that’s how you communicated with people. You didn’t call them up, you didn’t write to them, you unlocked your front door and you waited for them to come in.
If you do that today, you’re dead.
A post shared by Lux Bond & Green (@luxbondgreen) on Feb 26, 2017 at 2:28pm PST
NJ: What’s your internet and social media presence like? What accounts do you have or actively use?
JAG: We’re actively using Instagram and Facebook and we’ve had an internet store tied to our inventory for 15 years. I guess we were--in our own very small way--leaders in that category and it’s evolving daily because it has to.
It’s very difficult to measure which platform is the most successful for us. Advertising and marketing have always been difficult to measure.
With all of the analytics that we’re getting today I actually think it’s even more difficult to measure. Although you can sit there and look (at different figures), true measurements are at the end of the month. The question is, “Did you have a good month?” Not, “How many people opened your e-blast or how many sales did you make on the internet?”
We’re not an internet-only company. It’s a small percentage of our overall business. So we believe that if we’ve had a good month as a company, which includes our internet store and includes our social media platforms, that we’re actually reaching and touching more people.
Because we do know that even people who shop with us physically have started going to the internet and social media to help them make a purchase.
NJ: What’s the best piece of advice you’d offer to other independent jewelry stores?
JAG: Listen to your customers. A lot of people want to tell their customers. Listen to them. If you do, they will tell you what they need.
The world is changing so quickly and that’s good. The problem is to make sure to be the agents of change.
If the owners aren’t the agents of change for their company, then the company won’t change.
NJ: What’s a fun fact about you we can share with our readers?
JAG: I met my wife at the GIA.
It was 1978 at the Santa Monica campus, which was pretty cool back then. She was in the jewelry business too.
We were supposedly the 17th couple to meet at the GIA in class and then get married.
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