Split pay -fewer splits

[GrahamBristol]

It was just mentioned on air that the five way split pay has been discontinued and that the greatest split has now been changed to three. So pay a third now and pay the rest over the next two months. Improving cash flow for Gemporia etc but will it reduce the volume of sales?

 

[Deasmum]

Well, that's a surprising move. I would have thought that, given the cost of living crisis, they would increase the split pays to make sure people continued to buy! Did they say if that applied to Gem Collector as well?

 

[GrahamBristol]

Well, that's a surprising move. I would have thought that, given the cost of living crisis, they would increase the split pays to make sure people continued to buy! Did they say if that applied to Gem Collector as well?

Yes, Gem Collector too

 

[Deasmum]

Wow! If I was a betting person, I would say that it's going to reduce their volume of sales, particularly Gem Collector's. I saw one Burmese ruby for sale on Gem Collector for 89 pounds, but offering 5 split pays of 17.99 pounds per month. It makes each stone seem more accessible and affordable, which matters when you are selling just the loose stone imo.

 

[GrahamBristol]

Wow! If I was a betting person, I would say that it's going to reduce their volume of sales, particularly Gem Collector's. I saw one Burmese ruby for sale on Gem Collector for 89 pounds, but offering 5 split pays of 17.99 pounds per month. It makes each stone seem more accessible and affordable, which matters when you are selling just the loose stone imo.

I think that you could be right, I guess that time will tell. But the logic is that the change will reduce sales. Gemporia has a habit of bringing in these changes without a fanfare. The same happened when they increased the shipping and handling by 33.3% from £2.85 to £3.95. Though I think that that charge still is good value as it is a daily charge and regardless of weight so although as a percentage it was a hike it is still a moderate charge.

 

[Kit10]

TJC have done the same, I heard Mark mention that they would no longer be offering 5 Budget Pays. I expect that there is a cost implication to offering these extended payments, and they are hoping that sales won’t fall too much. But to be honest I only remember a couple of shows on Gemporia with 5 split payments, high end diamonds with Angeline and Ellis.

 

[Deasmum]

TJC have done the same, I heard Mark mention that they would no longer be offering 5 Budget Pays. I expect that there is a cost implication to offering these extended payments, and they are hoping that sales won’t fall too much. But to be honest I only remember a couple of shows on Gemporia with 5 split payments, high end diamonds with Angeline and Ellis.

I think they are much more common on Gem Collector than on main Gemporia. All the stones I bought from Gem Collector had a 5 way split pay option, although it's true that many on offer only had 3 or 4 split pays.

 

[Deasmum]

Oh, Ruth Linnett has just said on Lifestyle that they are going to remove split pay on items under 100 pounds. She didn't specify if it across all Gemporia or just Lifestyle, but I was shocked. What do you all think? Will it make you buy less from Gemporia (Lifestyle)?

 

[donna255]

At the weekend, sorry not sure which presenter's name long dark hair always smiling? A ring went under £200, and she announced how shocked she was that it was on split pay, as they don't do split pay on anything under £200.

 

[Gee4]

It was just mentioned on air that the five way split pay has been discontinued and that the greatest split has now been changed to three. So pay a third now and pay the rest over the next two months. Improving cash flow for Gemporia etc but will it reduce the volume of sales?

I’ve never seen anything on more than three payments, that’s why I like TJC, their more expensive pieces are usually on at least 4 or 5 budget payments.

 

[Gee4]

Oh, Ruth Linnett has just said on Lifestyle that they are going to remove split pay on items under 100 pounds. She didn't specify if it across all Gemporia or just Lifestyle, but I was shocked. What do you all think? Will it make you buy less from Gemporia (Lifestyle)?

Yep less, but depends on the item and price.

 

[Gee4]

At the weekend, sorry not sure which presenter's name long dark hair always smiling? A ring went under £200, and she announced how shocked she was that it was on split pay, as they don't do split pay on anything under £200.

They say that all the time lol.