Editor's Note

A Big Thank-You to Readers for Taking Our Big Survey

The results would be meaningless without your participation.

Published

6 months ago

October 31, 2023

Trace Shelton Instore November 2023 Issue

IT’S THAT TIME of the year again … time to find out just how this year has gone for jewelry retailers across North America! In other words, it’s time for INSTORE’s annual Big Survey, the most massive data-gathering exercise conducted exclusively with retail jewelry store owners and managers.

And as always, the survey was quite big — in more ways than one. We ask a lot of questions because we know that you want a lot of answers. Unfortunately, that also means it takes a LONG time to complete (about 45 minutes to an hour). We know that’s a lot to ask of our readers, especially when you’re so busy every day, and so we appreciate your participation — and hope that the results you’re about to read make it worthwhile.

Our Brain Squad came through in a big way this year, as it does every year, and we received participation across most of the country (where are you at, Hawaii, Wyoming and Washington D.C. retailers?). If you’re not already part of our Brain Squad, we would love to add you to the list. You’ll receive our monthly survey (which is MUCH shorter than the Big Survey), and you are never required to fill it out … just do it when you’re able to. Your survey answers make it possible for us to write the stories you read every month.

Ready to read about this year’s best-performing jewelry, most effective tech acquisitions, salary ranges for all positions, and yes, lab-grown diamonds? Then turn to page 32 and get started!

Now Introducing The INSTORE Show, Coming to the Chicago Area in 2023!

Trace Shelton

Editor-in-Chief, INSTORE
trace@smartworkmedia.com

Five Smart Tips You’ll Find in This Issue

Give each employee time for a dinner once a week with his or her family. Send a thank-you note with a bottle of wine to their “significant others.” (Manager’s To-Do, p. 24)
Keep staff updated on your advertising, so when someone asks for “that ring in they saw on your Facebook page,” your salesperson knows what he’s talking about. (Manager’s To-Do, p. 24)
Divide each salesperson’s earnings by their total sales to compare efficiencies. (David Geller, p. 68)
When presenting diamonds, always start with mined diamonds first. Have your lab-grown diamonds on the left, mined on the right and bridal in the middle. (Shane Decker, p. 70)
Improve SEO by optimizing for voice search, which means creating knowledge-based articles on your website that provide concise answers to common questions. (Andrea Hill, p. 71)

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”