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Cover
The Gold Box
Josephs Jewelers in Des Moines, Iowa, specializes in custom design.
By Joyce Kauf
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| Dilamani |
We sell our name,” says Toby Joseph, summing up the strategy that has been at the heart of family-owned Josephs Jewelers in Des Moines, Iowa, for over a century. Toby, co-owner along with his brother John, explains that their name takes on special significance — the majority of the diamond and gemstone jewelry they sell is nonbranded, original designs.
Toby and John’s children are the fifth generation to join Josephs Jewelers. The company has witnessed the history of the country, as well as the ebbs and flows of the national economy, since it was founded in 1871 by Solomon Joseph to calibrate watches for the railroad workers. The original S. Joseph & Sons now consists of stores in Valley West Mall, downtown Des Moines and an 18,500-square-foot freestanding store in West Des Moines.
Citing their very strong business in the area, Joseph recalls that 1959 was a “benchmark year” when his father was persuaded to open a store in a new, untested venue — the shopping mall.
Innovation goes hand in hand with tradition at Josephs Jewelers. The gold box that has become synonymous with the company in the Des Moines area was conceived by Joseph as a way to reinforce the brand. Previously, the company had used different color ribbons for every holiday. “One color and one ribbon made the box recognizable,” says Joseph, pointing out, “It was effective from both a marketing and a cost-saving perspective.”
Three years ago, the gold box became part of an omnichannel strategy with the launch of goldboxmoments.com, where users are encouraged to share their love stories. Joseph notes that the stories are not limited to Millennials, with Baby Boomers invited to tell their stories as well. “We wanted to attract users across different demographics,” he explains, citing the importance of extending brand awareness, but noting as well that the older age group, with potentially more disposable income, represents the top 10 percent of the market segment the retailer wants to capture.
In addition to telling their stories, users can view the Gold Box Collection of bridal jewelry. To strengthen the customer relationship, a future bride can take an online quiz, “Find the ring that fits you,” and then receive the image of her “perfect ring” that can be shared with family and friends. In a cross-promotional effort, users can also earn points for Josephs purchases that are valid at wedding service providers in the Des Moines area.
While Joseph recognizes the role of an online presence, he remains a firm advocate of brick-and-mortar selling. However, he is adamant that the company’s three stores distinguish themselves in the merchandise they carry. “In a typical multistore mall in the Midwest and beyond, each store has the same footprint — fill and replace, fill and replace,” he explains. “We have so many one-of-a-kind pieces,” says Joseph, citing the company’s inventory as a critical point of differentiation.
Diamonds account for 60 percent of Josephs’ business. In addition to bridal, the right-hand ring is a strong seller and customer favorites include rings with three rows of diamonds or five rows of pavé diamonds. Colored gemstones are popular across a range of stones and colors — morganite, natural aqua, spinels and opals, especially fire opals. Colored gemstones are displayed in what Joseph describes as “museum cases.” In the retailer’s headquarters location, two stand-alone square-shaped cases, 30 inches by 30 inches, are merchandised according to a color theme. Each month, the cases are changed and replaced with a different colored gemstone, reflecting a special theme, such as the changing season or a holiday, accompanied by special themed promotions.
The bridal section is a separate L-shaped area with four private rooms. “These present a great opportunity for building a one-on-one relationship,” Joseph notes. He remarks that setting up a private area enhances the “very personal experience” of buying an engagement ring and wedding ring.
Emphasizing design and quality also allows Josephs Jewelers to distinguish itself in other ways. Unlike most stores across the country, the company does not follow the latest retail trend of opening on holidays. With the exception of the Valley West location, the other two stores do not offer extended selling hours, even though neighboring stores and the competition remain open much later.
“Buying jewelry is not a price thing,” Joseph concludes. “We have to give customers a good experience. We have to give them a reason to want to make a trip to our stores. That’s our future.”Article from the Rapaport Magazine - July 2014. To subscribe click here.
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