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Big Diamonds Are Back – And You Can Profit From the Trend

Jewelers are reporting fewer but bigger sales.

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Bigger diamonds are becoming more important for more jewelers.

In 2011, 11 percent of jewelers were generating the bulk of their diamond dollars from gemstones that were 1.5 carats or larger. By 2014, that had climbed to 14 percent. This year, according to the 2017 Big Survey, it was 19 percent.

Big Diamonds Are Back – And You Can Profit From the Trend

Our figures mirror those found by other industry observers, which show jewelers across the country reporting fewer but bigger sales, especially in diamonds.

INSTORE columnist David Brown’s Edge group has found diamond sales have rebounded from a low of 44 percent of store sales in 2008 to 55 percent this year. For some ideas on how to best deal with these changing market trends with your staffing, marketing and inventory management, read David’s recent column on the subject here.

Check out the chart below. You can see all the results of the 2017 Big Survey in the October edition of INSTORE.

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SPONSORED VIDEO

Exceeding Every Expectation: How Wilkerson Helped d’Original Jewelers Achieve an Outstanding Retirement Sale

When David Rees decided to retire after 34 years of serving Bellevue, Washington’s Eastside, he and his wife knew their exit from d’Original Jewelers needed to honor their decades-long commitment to customers while meeting their financial goals. Since opening in 1990, David had built a reputation as one of the area’s most trusted names for diamonds, custom jewelry, and repairs. Understanding that a successful retirement sale requires more than just discounting merchandise, David chose Wilkerson to manage his transition. What impressed him most was their attention to detail, particularly in accounting and sales projections. The results far exceeded his expectations — the sale significantly outperformed projections, delivering exceptional financial results that surpassed his retirement goals. “They were always there for support. If we needed anything, they were able to accomplish that,” David shares. For jewelers contemplating retirement, David’s experience demonstrates Wilkerson’s proven ability to deliver outstanding results while providing comprehensive support throughout the entire process. His recommendation? “100% yes.”

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