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The Gifted Retailer

GDA Staff -- Gifts and Dec, 9/8/2011 10:36:25 AM

Julie Horowitz Jackson, owner of Virtu in Chicago, believes that you can master anything with a bit of grace.

Gifts & Decorative Accessories: What do you like best about being a retailer? Virtu
Julie Horowitz Jackson: I would have to say I really enjoy the freedom and the flexibility to be able to run with my own creative energy. I get excited about new things quickly, and because Virtu is such a small store, we are able to turn inventory often in an effort to keep things fresh. I love the fact that I know each and every one of our artists personally. The majority of what we have to offer has been crafted by someone and not something - by actual hands. I love the fact that I get to work directly with those hands within their own communities in order to sustain a fiercely local, independent business.

As I buy for the store, I keep a running tally in my head of what our best customers have purchased from us in the past. I try to consider their gift giving needs when making decisions and the only way that I am able to accrue this information is by getting to know our customers personally. I have to say that in the 10 years that I have grown, I have met some of the most impressive people who have taught me about humanity in ways that I could never have imagined. It is this core clientele that guides my business into the hands of so many of our talented artisans that continue to surprise me, season after season, with splendor.

G&DA: What was the most valuable piece of business advice that you ever received?
JHJ: "No one is going to stand in line to do it for you," words that I continue to tell people who are considering making a life's change. I have had the great opportunity of working in a number of different business models, many of which were owner operated. I think the most effective and successful businesses were run by people who weren't above getting in there and doing it themselves. I don't have a designer, I have me. I barely have a web developer. I have a good friend, a template and me. Buyer? Yup, again, me. Merchandiser? That's where my lovely and talented assistant comes in. You can read more about her in a minute.

Another great bit of advice? Always keep your sense of humor. The world and the industry are constantly changing, but with a bit of grace, you can master anything.

Virtu G&DA: What is/was your most successful promotion?
JHJ: Our most successful promotions tend to incorporate a signature body of work from one of our many artists while supporting our community in some fashion. Every year in early November, we kick off the holiday season by unwrapping the complete holiday collection from our local stationer, Snow&Graham. To give back to the community, we donate 10 percent of our sales for the day to a local food bank. It's a great way to kick off the holiday season and feel good about supporting those locally in need.

This model has been so successful, that we employed a similar concept when creating our Decade on Damen campaign in celebration of our 10th anniversary. We asked each of our top 10 vendors to donate something spectacular which we then raffled off to our guests. Tickets are $10 each and all of the money from the sale of the raffle tickets iss donated to a local charity. To date, we have raised more than $2200 towards local efforts. This month's donation comes from Rhode Island jeweler, Dahlia Kanner. Proceeds from the raffle of her sterling silver and blue diamond disk necklace will go to Sit!Stay!Read!, an organization which uses therapeutic dogs to help encourage a love of learning in at risk children.

G&DA: What three products/lines are you best sellers?
JHJ: Wow. That's a hard one. We are very dedicated to several signature lines. Virtu would not be standing were it not for the talents of so many of our artists.

Beth Mueller who creates sweet and simple sentiments in the form of an iconic ceramic milk bottle. Anne Sportun, our Canadian fine jeweler whose one of kind gemstones set with diamond pave surround are just magnificent. There's a tie between Saundra Messinger and Snow&Graham for third place which is strangely significant in that one has a Virtu moderately high price point, while the other has a median price below $10. Saundra Messinger is an exceptionally talented jeweler whose hallmark is that of organic elements of sterling silver that shimmer with the sparkle of a teeny diamond. Snow&Graham? They're the local stationers that I mentioned above. Constantly one step ahead of the game, I am always thrilled to unveil a new bounty of blossoms from one of our favorite local heroes.

G&DA: What are you doing to attract new customers?
JHJ: Everyday I meet someone new who asks "Are you new?" Well, no, we've been here for 10 years, but we are thrilled to bits that you've found us.

I sometimes feel that the best method of growth is slow and steady, another good bit of advice given to me by a fellow retailer. We are absolutely consistent with our packaging and wrap. Each gift is presented with our contact information and, more than likely, an artist's bio or statement about the piece. I have received a number of thank you notes from strangers saying how much they loved their {fill in the blank} that they can't wait to visit the next time they are in Chicago.

Beyond the strongest compliment of word of mouth, we do a bit of local bridal advertising and networking. The explosion of social media outlets has proven most useful as we post obsessively to our Facebook and Twitter accounts. I am constantly amazed at the power of the Share or Retweet button. It's as simple as that when we post our monthly newsletter, and an hour later we are walking packages out the door. Our website and social media accounts get us quite a bit of media interest, and with their help, we are able to reach a large and diverse audience. Thank you for the opportunity, editors everywhere.

Virtu G&DA: What was your most effective display?
JHJ: Our ability to display presents at one time both a challenge and a dream. Within our small space, we utilize display shelves that behave almost like adult Legos. Through a changing series of right angles, nooks and vignettes begin to appear.

Our most effective displays are those that enable us to show a full body of work that doesn't look empty or depleted when a large item sells. Our buying patterns take spatial relationships of products into account when choosing a varied mix. We merchandise by color, texture and medium, as well as seasonal theme. As one might expect, our holiday displays are the most fun to produce as well as to enjoy.

G&DA: How do you find your best employees?
JHJ: I have been blessed with exceptional customers. In the 10 years that I have been in business, I've had employees for only five of those years. Our best and brightest employees have been clients who have fallen in love with the store, both in concept and philosophy. We have joked on more than one occasion that many have worked for us, only to put their paycheck right back into our register.

Currently, I've had a friend who happens to be a merchandising rock star working with me for the past few years. She sees things in a different light than I, all while sharing in Virtu's goals.

And then there's always my husband. He's been willing to do just about everything around the store and, wouldn't you know it? He's really quite good. Even his wrapping skills have received rave reviews online.

G&DA: What was your biggest retail problem and how did you solve it?
JHJ: In a word, the economy. I started the year of September 11 and terrorist attacks were just not part of my business plan. While my original intentions for the store might not have survived, I was able to figure out what the neighborhood needed and I filled the void, happily at that.

I used to write a business or marketing plan once every six months or so. Being small and flexible has enabled me to navigate the raging waters of the global economy. When things really began to get worrisome, I took a chance on a new market.

As so many of our customers enjoy our jewelry collections, many of them came to us when it was time for something truly special. While I hadn't expected to delve so deeply into the bridal market, I learned one very important thing. There will always be weddings and we will always celebrate glorious occasions in our lives. Had I not had the courage and faith to listen to my heart, I might not be answering these questions for you today.

Thanks to the true talents of artists like Anne Sportun, Jennifer Dawes, Rebecca Overmann, and Saundra Messinger, Virtu's special occasion collection was born. Virtu I Do has not only supported but sustained our business in the toughest of times. I can only hope in these next few quarters ahead that we find a way to continue to grow this exciting new aspect of the business.

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This was very informative and interesting listening to her ideas !I was glad I had the time to read this and pick up a few ideas.
Michele Caponi - 2011-09-14 11:47:29 EDT

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