Alan Perry is now known as the "rain-day diamond jeweler."

The gemstone dealer promised his customers that if more than three inches of snow fell in Asheville, North Carolina in December, their holiday purchases would be free. Now Perry is coughing up the jewels.  Why? It snowed six inches.
 Perry promised 311 shoppers who bought jewelry at Perry's Emporium in Wilmington, NC between Thanksgiving week and December 11 that they would get their jewelry free if it snowed heavily. 

Now his payout could be worth more than $400,000.  No worries for the jeweler though—he already bought a $10,000 insurance policy from Global Weather Insurance that will cover the costs. He bought a "snow policy that is a type of sales promotion that is popular with merchants.

It's a big win for Perry, who also won in the marketing category.  His sales jumped 34% in that period after he let the world know about the snow promotion.  

"This promotion absolutely paid off," he told CNN, "I've been everywhere talking about it," he says as he notes he's been on Good Morning America, Fox News, as well as CNN. The payment checks will start going out in February.
While he operates the 7,500 square foot store in Wilmington, he chose Asheville because it rarely ever snows in December there, he says.

Perry is very happy with the outcome, but thinks he's going to do the promotion next year in a different city.  "Maybe Wilmington, Delaware," he says.

These weather policies (including ones for rain, high and low temperatures, and rain) are becoming popular around the world, especially for diamond retailers, jewelry stores, electronic sellers, and car dealers. They usually run before the major shopping holidays like Christmas, Memorial Day, Fourth of July, and Labor Day. 

During the snow policy promotion, the most expensive item bought at his store was a $12,000 engagement ring that will now be free.

Besides the popular snow policy, Perry has run a rainy-day promotion that promises to refund the cost of an engagement ring if it rains above a certain amount on a customer's wedding day.  Perry has also run a rain-day promotion for the past six years in Wilmington, N.C., promising to refund the cost of an engagement ring if it rains above a certain amount on a customer's wedding day.

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