Nothing about Talisman Collection Fine Jewelers is cookie-cutter. From the floor-to-ceiling windows on three sides that let natural light stream in, to the Library Lounge with guitars suspended from the wall, the 2,700-square-foot store is inviting, expansive and, according to owner Andrea Riso, engaging for clients inside and out.
Located in El Dorado Hills, California, between Napa Valley and Lake Tahoe, Talisman’s “fishbowl” environment provides customers with an unobstructed view of the inside. “The bench jeweler and I sit right in the front. Everything is transparent — our work and our pricing, which is 25% above wholesale,” says Riso.
“People don’t like going into a store that feels like a closet or that has such bright halogen lights that make customers feel they are in the Witness Protection Program,” she continues. “Or it’s so dark, they can’t see what they’re doing, because most of our customers are 35 and up.” For men in particular, who represent over 90% of her customers, the store’s openness and stress-free environment create an ideal ambience of comfort and camaraderie.
A former marketing and PR executive who was “peripherally” involved in jewelry for years, Riso employs the methodology of Kaizen — Japanese for “improve” — to refine the shopping experience. “I constantly apply these practices to the way we work to make the customer experience better and to maximize the resources that we spend on promotion,” she elaborates.
Agility is key
Riso maintains that independent jewelers are in survival mode. They’re facing generational change, economic turmoil, and “massive” competition from designers selling on their own social media and aggregating those sales via Instagram and Facebook. In a world of bloggers and influencers, agility is the name of the game, and digital savvy is a key component. Digital is a 24/7 activity, 365 days a year. Marketing and cataloging require a website with customizable inventory, like jewelry from online retailers.
“We have to employ someone or get up very, very early in the morning to post social media separately on every digital media channel. We have to add fresh content every single day to raise our Google rankings and even Yelp reviews, which are a mixed bag,” Riso remarks. While these activities have yet to generate revenue, she has seen growth in market share.
Agility is also a factor in sales. For Riso, “it’s about looking people in the eye and establishing a relationship, because jewelry is 98% an emotional purchase. We need people with the bandwidth to foster that relationship with each and every customer — whether they come in for a watch battery or a $50,000 ring.”
It’s also about respecting the customer’s wishes and budgets. As soon as a customer walks in, Riso says, employees ask price range and cater to that.
Broad palette
Jewelry that is “not too artsy and not too intricate” has the broadest appeal. Pink and earth-tone diamonds are popular at Talisman. And it’s “rainbows, rainbows, rainbows all over,” Riso reports, attributing the trend more to the pleasing color palette than an association with gay pride.
In the bridal category, she has observed a trend toward fewer halos and larger center stones, up from 1 carat to 2 carats, whether they are mined, lab-grown, clarity-enhanced or moissanite.
Donation station
To broaden her exposure, Riso makes over 300 contributions a year toward community events,
in the form of money, merchandise or service.
For instance, she offers free repairs of jewelry damaged in the fires that continue to ravage California, and she donates to cultural, religious and veterans’ events.
She draws the line at political groups, but sometimes politics can’t be avoided. Riso cites the 2020 presidential election as her biggest challenge. “It is going to be scary, and people next year are going to be worried about the economy and tight-fisted with their money,” she says.
Still, she’s determined to persevere. “Everyone said we were crazy when I opened the store in 2013 — and they still do. But I’ve just renewed my lease for 15 years. I have zero intention of closing this.”
Article from the Rapaport Magazine - December 2019. To subscribe click here.