Leveling the Playing Field

Almost every online retailer knows the challenge described by Osher Karnowsky, the general manager of Jomashop, a destination for luxury goods: “We go up against the likes of Amazon, eBay, and Overstock, who spend millions in advertising, and everybody’s heard of them,” he says. “Why should someone buy from us instead of from them? How do customers know us and trust us?”

Jomashop started as a mail-order catalog in 1987 and became primarily a luxury watch site in 1999. It is now ranked by Internet Retailer as the 201st largest online retail site. What helps it grow? “Our motto is to give the customer brand names at a discounted price,” Osher says. “Whether you’re looking for a $75 Fossil or a $75,000 Audemars Piguet watch, we have something for you.”

Before customers study the details, however, their first response is skepticism. “They’re thinking ‘Who are you, and why should I trust you?’ ” Osher says.

Trust helps level the field against giants, Osher says. “New customers may not have heard of Jomashop, but they can rest assured that Norton will back them should any problem come up,” he explains. “And the Norton price guarantee helps because people know that prices are volatile. The three guarantees together are a strong factor in closing the sale.”