Onyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
These Are the New Sales Rules to Live By
Live from Conclave, millennial marketing expert Jeff Fromm sets out the new rules for retailers to follow in the digital age.

Los Angeles--Retailers have heard a thing or two about selling according to generation demographics.
They’ve heard about “midults.” They’ve heard about Generation Z. And they’ve probably heard enough about millennials to write a book about them.
But Jeff Fromm, president of consumer trends consultancy Futurecast, is the man who actually has written books on the topic: he’s the co-author of “Marketing to Millennials” and “Millennials with Kids.”
At the American Gem Society’s Conclave education conference, going on now in Los Angeles, Fromm laid out new sales rules for retailers to follow that were far from the typically espoused millennial marketing wisdom.
These rules also apply to an ever-evolving baby boomer customer and beyond.
Here are some of the highlights.
The New ABCs of Sales
Retail jewelers have probably been taught to “always be closing,” but today, Fromm explained, they need to “always be collaborating.”
“It means you’re going to have to be more useful and less pushy,” Fromm said.
Millennial consumers are inherently wary of a sales pitch. They’re digitally savvy and tuned in. They’re “prosumers” rather than consumers, exposed to and capable of processing large amounts of information.
So if a salesperson acts in the role of a trusted advisor, imparting their specific jewelry expertise and making suggestions, rather than someone making a sale, they can create a loyal relationship.
This can be achieved by foregoing rote sales questions like “What is your budget?” and instead, making suggestions and learning about the customer’s needs.
Today’s shoppers already know how to compare prices and work within their own budgets. Retailers should focus on collaborating with their clients and becoming a trusted source of knowledge.
Put the Millennial Focus on Employees
Traditionally in sales, the customer always comes first. But Fromm suggested that to understand a millennial customer, store owners should pay attention to their millennial employees.
“Many of them, in addition to compensation, not in lieu (of), want to work for a brand where their values align with the brand’s values,” he said.
This speaks to the importance of passion in the work place. Millennials want to work with companies they believe in, whether that’s due to an enthusiasm for the product being sold, an emphasis on work/life balance or even the way a company gives back.
The important thing is to understand what your millennial employee wants and what they value, thereby helping stores understand how to connect with their consumer cohort.
“You
Don’t Treat Others As You Want To Be Treated
Instead, treat others as they want to be treated, he said.
“Empathy is at the core of it.”
A salesperson should understand the various emotions, including fear and anxiety, that come with purchasing fine jewelry.
The key is to identify a customer’s need state--or, why they’re shopping--whether that’s for an occasion like a proposal, a Mother’s Day present, or a self-purchase.
“The consumer has a need state that extends beyond the product you sell,” Fromm said.
Retail has to adapt to what the customer wants and needs, acting on the information a customer shares rather than sticking to a dedicated sales strategy.
“Not everybody wants what you want,” Fromm said.
The Next Step: Identify Influencers
Millennials crave content, and it’s a given that they require various social media channels to interact with a brand or store.
“I think we’ll see very rapidly that best-in-class retailers move to content strategies where they integrate traditional CRM (interactions with customers) with social behavior. We’re talking about who is consuming your content, who is curating your content and who is creating content on behalf of your brand.”
He emphasized that the latter, those who create content--such as Instagramming a product on their personal feed--are the most important consumers to a brand.
The way of the future, he said, is to use a simple algorithm, whether proprietary or from a third party, to identify the “5 percent of customers who not only buy from us, but actually love us and have a social influence” and treat those customers differently.
The Latest

Solomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.

Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.

Retailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.

The new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.


Four men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.

André Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.

Colored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.

New York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.

Santana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.

The 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.

The watch’s dial features an original design by Marvel comics illustrator Adam Kubert.

The new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.

While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.

Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.

The massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.

The miner’s ruby and emerald auctions brought in a combined $102.9 million.

The goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.

David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.

Survey respondents were concerned about the rising prices of food and groceries as well as unemployment.

Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.

Reilly has been with PGI USA for the last 20 years, leading partnership development and professional education.

Boucheron reached record sales while Pomellato found success in its signature collections.

She was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.

Smith reveals the method The Retail Smiths use to help retailers and vendors write better job postings.

LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”

“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
























