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How do store employees afford nice watches?
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Author:  shubes312 [ Wed Aug 24, 2011 9:46 am ]
Post subject:  How do store employees afford nice watches?
Don't mean to offend anyone, just curious. I see it all the time and just wonder. Was at a store today and the sales lady was wearing a Cartier Tonneau. The whole time I kept wondering how she could afford a $25k watch while working retail? They didn't sell that watch in the store, so it's not like it was a loaner. Do they get watches at a huge discount? Do they get to "borrow" watches while they're on the floor?
Author:  jnelson3097 [ Wed Aug 24, 2011 9:48 am ]
Post subject:  Re: How do store employees afford nice watches?
I know some brands will run sales incentive promotions which allow for a percentage of the sales persons sales of that brand towards the purchase of a watch.
Author:  RJRJRJ [ Wed Aug 24, 2011 9:59 am ]
Post subject:  Re: How do store employees afford nice watches?
I went boutique hopping yesterday. Nothing like seeing two sales people wearing Breguets while showing me a $450,000 double tourbillon lol. I got to thinking that maybe im in the wrong business.
Author:  sharkman [ Wed Aug 24, 2011 10:04 am ]
Post subject:  Re: How do store employees afford nice watches?
(1) some are "borrowed." One AD I know has a rule that everyone wears the brand of a visting regional sales rep. (2) some are bought at near cost by valued and/or successful sales persons. (3) some are spiff - the annual incentive or sometimes a seasonal (Xmas Holidays) incentive. Breitling typically does this. I know Cartier always does. Assume most other major brands do as well.
Author:  F14D_Tomcat [ Wed Aug 24, 2011 10:13 am ]
Post subject:  Re: How do store employees afford nice watches?
shubes312 wrote:
Don't mean to offend anyone, just curious. I see it all the time and just wonder. Was at a store today and the sales lady was wearing a Cartier Tonneau. The whole time I kept wondering how she could afford a $25k watch while working retail? They didn't sell that watch in the store, so it's not like it was a loaner. Do they get watches at a huge discount? Do they get to "borrow" watches while they're on the floor?


You sure it was real? She might have got it in the Caribbean or something..
Author:  Roffensian [ Wed Aug 24, 2011 10:18 am ]
Post subject:  Re: How do store employees afford nice watches?
sharkman wrote:
(1) some are "borrowed." One AD I know has a rule that everyone wears the brand of a visting regional sales rep. (2) some are bought at near cost by valued and/or successful sales persons. (3) some are spiff - the annual incentive or sometimes a seasonal (Xmas Holidays) incentive. Breitling typically does this. I know Cartier always does. Assume most other major brands do as well.


:yeahthat

Many brands / store chains are actually very restrictive about allowing sales staff to purchase at a big discount. The major retail chain in Canada only allows one purchase a year at cost to try and avoid profiteering.
Author:  archie42 [ Wed Aug 24, 2011 2:41 pm ]
Post subject:  Archie has first hand experience with this!
Archie has first hand experience at this very thing.... Archie had a lifelong dream of opening an Upmarket Jewellery/Watch/Luxury Goods store in the future.

Archie thought the best way to learn the business would be to work in an existing store and see what he thought!

Well - Archie divided his IT Contract income into 3! Retail pays nothing! In retail Archie was earning about $18-50 an hour! OUCH!

Archie however was not working in the store for the income.... NO - Archie wanted to learn the business (retail) and learn a few things - like how to MERCHANDISE, RUN A STORE, ARRANGE STOCK, HANDLE CUSTOMERS, etc!

One dear lady I worked with in the store could not believe I did this when I was earning 3 x as much in my prevoius career.

I told this small minded lady - "darling, I have saved myself $500,000- from working here! ..... If I opened a store and signed a lease I would have lost $500,000- ! This business is crap! I saved myself alot of money.....The Internet is the way to go......"

I then resigned and went back IT.... And started developing the hughly popular Youtube channel - ARCHIELUXURY
(almost 1 million hits! and google ads revenue! is rising..... about 40 cents a day now!)

I did wear my watches in when I was working in the store.... I especially loved wearing my Patek.

So that is the Archie story.

Image
Author:  roman4405 [ Wed Aug 24, 2011 5:32 pm ]
Post subject:  Re: How do store employees afford nice watches?
Who really speaks about themselves in the third person? I mean, c'mon!!

I was in Nassau looking at an AP ROO and the salesman was wearing a fake Hublot.
Author:  FEAR [ Wed Aug 24, 2011 7:39 pm ]
Post subject:  Re: How do store employees afford nice watches?
ok, most brands have a promotional program where employees of their ad's can buy one watch a year at an extra discount usually in the 50 to 55 off of retail area, but it depends on brands. otherwise they can buy at cost or 10 over or somewhere in theta area from the stores. i don't know of one that requires employees to wear a certain watch, its actually illegal, and i don't think too many borrow them, its not un heard of on special occasions, when doing outside events for brands and i don't own one of the brands watches, i'll throw one on for the day, but thats about it.

why is it so unheard of for someone who sells high end luxury items like watches and jewelry to be able to afford such things? people who are at the top of their game selling anything else can, so why not this stuff?
Author:  FEAR [ Wed Aug 24, 2011 7:46 pm ]
Post subject:  Re: How do store employees afford nice watches?
plus, i think you GREATLY underestimate what top salespeople at these stores can make, i know at least 10 who make well over 100k a year and 3 or 4 who make 200+
Author:  jlee5050 [ Wed Aug 24, 2011 9:31 pm ]
Post subject:  Re: How do store employees afford nice watches?
FEAR wrote:
plus, i think you GREATLY underestimate what top salespeople at these stores can make, i know at least 10 who make well over 100k a year and 3 or 4 who make 200+


:yeahthat

The people that work in these upper luxury companies definitely make some serious dough...
Author:  F14D_Tomcat [ Thu Aug 25, 2011 12:29 am ]
Post subject:  Re: How do store employees afford nice watches?
jlee5050 wrote:
FEAR wrote:
plus, i think you GREATLY underestimate what top salespeople at these stores can make, i know at least 10 who make well over 100k a year and 3 or 4 who make 200+


:yeahthat

The people that work in these upper luxury companies definitely make some serious dough...


I certainly don't doubt that but I don't think that floor clerks are making over 100k a year.
Author:  Roffensian [ Thu Aug 25, 2011 4:52 am ]
Post subject:  Re: How do store employees afford nice watches?
F14D_Tomcat wrote:
jlee5050 wrote:
FEAR wrote:
plus, i think you GREATLY underestimate what top salespeople at these stores can make, i know at least 10 who make well over 100k a year and 3 or 4 who make 200+


:yeahthat

The people that work in these upper luxury companies definitely make some serious dough...


I certainly don't doubt that but I don't think that floor clerks are making over 100k a year.



If they are commissioned with accelerators for over performance $100k can be a long way in the rear view mirror.
Author:  FEAR [ Thu Aug 25, 2011 6:25 am ]
Post subject:  Re: How do store employees afford nice watches?
it depends a lot on the store and the market and the products. is the sales girl at jareds going to make 6 figures? probably not, SOME of them do, probably the top 10% and average is closer to 56-60. but in a HIGH end store, they AVERAGE over 100, with top performers in the 250 range. keep in mind, a top performer sells in the 3 to 4 million dollar per year area. thats a lot of money in sales, and the bulk of that will be jewelry, where there is more profit.

go down to your local mercedes dealer. i GUARANTEE the top salesman there makes well into the 6 figures, and the top guy at toyota probably does too. if you are good at what you do, you will get paid for it, and paid well, what you sell doesnt matter.
Author:  roman4405 [ Thu Aug 25, 2011 5:46 pm ]
Post subject:  Re: How do store employees afford nice watches?
FEAR wrote:
it depends a lot on the store and the market and the products. is the sales girl at jareds going to make 6 figures? probably not, SOME of them do, probably the top 10% and average is closer to 56-60. but in a HIGH end store, they AVERAGE over 100, with top performers in the 250 range. keep in mind, a top performer sells in the 3 to 4 million dollar per year area. thats a lot of money in sales, and the bulk of that will be jewelry, where there is more profit.

go down to your local mercedes dealer. i GUARANTEE the top salesman there makes well into the 6 figures, and the top guy at toyota probably does too. if you are good at what you do, you will get paid for it, and paid well, what you sell doesnt matter.


Shit, I need to go to Jareds and apply for a job. Last time I was there I had to explain pretty much everything about the Speedy I was looking at to the saleswoman. Plus then I could get my wife a discount on all that Pandora crap.
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