Despite positive feelings, jewelers still ordering less inventory
American jewelers maintained their upbeat outlook as we moved into April, with the INSTORE Jewelers’ Confidence Index holding steady in positive territory at 53.
More than 42 percent of the 247 independent jewelers who took our survey said the prospects for their businesses had improved in March compared to just 12 percent who said they'd deteriorated. Despite that bullish assessment, 50 percent of the jewelers said they had ordered less stock in March compared to the same month last year, while only 21 percent had ordered more. Those two factors – outlook and actual orders – form the basis of our index.
April’s score of 53 marks the fifth straight positive reading for the JCI. In November, amid all the uncertainty created by the countdown to the election, the index showed a reading of just 45.
Note: The INSTORE JCI is based on jewelry-store owners’ level of confidence in the short-term outlook for their businesses as well as their willingness to place orders for new stock. A score above 50 suggests they are more positive than negative.