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Precious Advice; M&B Jewelry Experts De-bunk RTO Jewelry Myths
8/1/2014
By RTO Online - The rent to own industry's trade website
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See M&B Jewelry in booth 2110 at RentDirect PrimeTime!
Agenda | Vendor List | Floorplan

M&B Jewelry Experts De-bunk RTO Jewelry Myths

M&B Jewelry Experts De-bunk RTO Jewelry Myths
M&B Jewelry Experts De-bunk RTO Jewelry Myths - contact Robby Tyson at 800-251-7640 for more information.
Contact:
M&B Jewelry
Robby Tyson
800-251-7640
Booth # 2110

M&B Jewelry is a major diamond importer and primary jewelry manufacturer offering independent retailers a wide variety of diamond rings, bridals/trios, pendants, earrings, bracelets, and precious stone jewelry through turn-key sales packages and merchandising programs.

But Robby Tyson, Sr. VP, Director of Sales & Marketing, insists, M&B Jewelry’s most valuable product is its highly-skilled team of sales training experts: “Most of our retailers are specialists in retail areas other than fine jewelry, so we’ve made a commitment to providing support through jewelry experts also familiar with the intricacies of each specific industry.”

M&B’s owners, once deeply-rooted as owner/operators of a chain of almost 50 rent-to-own stores, often elaborate with curious RTO dealers on the “Myth’s of RTO Jewelry”.

According to John Blair, M&B National Sales Manager and Ex-President of TRIB Group, the RTO dealers’ biggest fears always include inventory cost, staffing, security, and skips:

Inventory Cost: “RTO Dealers expect a high inventory cost, because they are used to paying more for quality jewelry for family members. As a prime manufacturer, however, M&B can customize programs providing quality jewelry at prices RTO customers can afford. M&B also offers dealers a choice of “live” and “non-live” inventory; with “non-live” pieces averaging only $28 each, compared to the average “live” ring price of $185.”

Staffing: Another myth is, that to be successful, jewelry rental requires women sales people with prior jewelry sales experience. According to Blair, nothing can be further from the truth. “Jewelry stores experience turn-over just like RTO stores. Jewelry employees are trained just like new RTO employees. Well-trained sales people, regardless of sex, will do well renting jewelry…in fact I work in one store where males out-rent the women 10:1.”

Security: “Security is always an issue in RTO, no matter what the product…even big screens. Jewelry shrinkage in RTO averages less than ½%, and that’s high. In my 21 years in RTO, I only know of 2 cases where a jewelry RTO dealer has been robbed, but no one was ever hurt.”

Skips: “Large skip rates on jewelry are unheard of. Jewelry is almost always an “add-on” rental to current customers on whom you already have a history.”

After de-bunking dealers fears, Blair is quick to add, “the best things to remember about renting jewelry is it requires no back-breaking delivery, takes up only 6 feet of space, and you can add 5 new rentals in one day without ever stepping out of the store or having to recite directions on how to turn it off”.

M&B Jewelry - contact Robby Tyson at 800-251-7640 for more information.

POINT DIRECT: Top rent to own dealers generate up to 14% of revenues renting M&B Jewelry.

M&B Jewelry is a proud participant in the 2006 RentDirect PrimeTime! buying Show, August 20-23, 2006 at the Venetian in Las Vegas, Nevada.

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