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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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Chris Burslem is Group Managing Editor at SmartWork Media.

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Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

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