February 05, 2005
Perceived Value
Breaking out of the cooling pahoe hoe flow and creating a new finger of lava on the West HighCastle flow HVO Photo
Before Liquidation
"don't you think your prices are very high? I can get this type of thing at so and so's for... Yes, I know its from Hong Kong, but what is the difference between there and Italy? Steven Lee, he's only a local boy... You can get his things at... much cheaper..."
During Liquidation
" Im very sorry that I haven't been in your shop before... I must have this. How much was it? Is that all, and on sale 20% off? I'll take it. I know its Italian, that is the very best. And it nice that you have local artists like Steven Lee, his black pearls are the best you know and this quality you you don't see everyday..."
These words came from the same woman...Woody and I agree on this and she epitomizes something that we are learning in this time of change. Kathy Hammes, my mentor and friend, used the marketing term "perceived value" and we discussed it over lunch yesterday. There seems to be a greater perceived value on our store and its contents now that we are leaving... We are seeing this in all levels of life in these final days of our time here in Hawaii as residents. Even ourselves, we have gained stature and value as we embark on this "reckless, bold and adventurous plan" as one man said to us today... Even in our personal lives. Woody was offered a permanent schedule on this side with the guard company, and a local jewelry store is calling to see if we have people to place, "oh, the manager? Yeah sure great, come and fill out an app"... Ugh... I sort of knew this would happen...
We have sold more goods in four days than we have sold in the past four months combined,which included Christmas.. But get this, the markdown is minimal. Twenty Five percent on most of the stuff,and I can go thirty five, if needed and I have a 50% off case. Im still way in the black on each sale and the sales just keep happening. I am so thankful to God and to those that are praying. Yet I have come to realize that its not the numbers that are driving this it is the perception that somehow since we are going out of business that we are having this slasher sale and its all a give away. I keep coaching Woody to not give it away and he saw today that we don't have to, and was blown away... And he is a professional salesman. And the people just keep coming in...
Like our inventory, our house is the same way. We are building a persona around this house that we are leaving sorrowfully, no negotiation, this is our price and it says to buyers... See look at this... this is the best house around and you can have it for only (if I list the price the sticker shock would kill some of you so that shall be a secret...) Its working. I told five people about the house and the agent was leaving messages on the phone that these visitors all want to go and see our house...I may just sell that too...
When we value something, we can add value to it... That is the bottom line. My loving look at each piece of jewelry I think gives value and meaning to each piece. I dont have one piece of jewelry that is ugly I feel a little twinge everytime a piece leaves the store... So you can imagines how it is when 100 leave... I think that the customers pick up on that and its a good thing...
Maybe I am prey to this too. I find myself bristling as something about the island is knocked. Like a protective mother hen I am defensive over my Hawaii faults and all. She is Punahele, my Beloved with all of her faults departing has endeared her to me like nothing else could...
