News & Press: Member News

3 Business‐Boosting Tips for Your Jewelry Business

Tuesday, July 9, 2019  
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Out‐of‐the‐Box Ways to Use Volume Rebates

By Wells Fargo Retail Services

American Gem Society membership brings a lot of benefits, including the consumer credit card program and unique perks like volume rebates. By qualifying, you can earn money back up to four times a year for the business you’re doing.

But once you have the money, should you just deposit it into your business bank account and move on or get more creative? Here are ways to use the money you may not have considered:

  1. Buy Intellicheck for your stores.
    Nationwide, retail fraud is a constant battle. Last year, an average 8% of returned purchases were fraudulent, amounting to a hefty $18.4 billion.* With technology that authenticates shoppers’ identification, you could add one more layer of protection.
  2. Buy an iPad and sign up for Wells Fargo’s paperless process.
    This simple, streamlined application and processing tool means your sales team spends less time doing paperwork every time customers apply for financing.
  3. Run a longer‐term financing promotion.
    Not qualifying for the volume rebate? Try running a longer‐term financing promotion next quarter to see higher sales and average tickets.

    The "6‐Month No Interest if Paid in Full" promotion costs dealers 1.70% every day. That’s probably less than you’re paying to accept credit cards. If this promotion helps you qualify, your cost for this plan could be as low as 1.00%, and that’s on top of better sales.

Learn more

If you’d like to offer the American Gem Society credit card program, please call Wells Fargo Retail Services at 1‐800‐577‐5191, Monday through Friday, 7:30 am to 5:30 pm Central Time, to enroll.

*https://nrf.com/blog/naughty-or-nice-3-things-know-about-fraud-during-holiday-season


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Mission Statement

The American Gem Society (AGS) is a nonprofit trade association of fine jewelry professionals dedicated to setting, maintaining and promoting the highest standards of ethical conduct and professional behavior through education, accreditation, recertification of its membership, gemological standards, and gemological research.

The Society is committed to providing educational products to inform and protect the consumer and to contributing to the betterment of the trade by creating industry standards to protect the jewelry-buying public and the fine jewelry industry as a whole.

AGS Laboratories, founded to support the AGS mission, is a nonprofit diamond grading laboratory with a mission of consumer protection. Adhering to the AGS Diamond Grading Standards, AGS Laboratories is dedicated to offering diamond grading reports that provide consistency and accuracy based on science.

American Gem Society

8881 W. Sahara Ave. Las Vegas, NV 89117

info@ags.org (866) 805-6500