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The Basics

As has become tradition with the Big Survey, we start with a look at the marketplace fundamentals of our jewelers: where they work, what they offer, and how they differentiate themselves.

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5. Do you own or rent your store?

The Big Survey of U.S. Jewelers 2019: The Basics

COMMENT: A combination of record low interest rates and record economic expansion, as well as the increasing popularity of downtown shopping districts, appears to have made it possible (and smarter) for more jewelers to own their places of business.
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6. How would you describe the market where your store is located?

Big urban market
8%
Suburban outskirts of a big urban market
17%
Medium-sized city (250,000-1 million people)
15%
Small city (25,000 to 250,000)
34%
Country town (up to 25,000)
22%
Resort area
3%

7. Which description of your business do you most closely identify with?

Full-service jeweler (offering repairs and other services)
78%
Jewelry retailer
9%
Custom design store
8%
By-appointment jeweler
2%
Online jeweler
1%
Pawn shop
1%
Other
1%

8. Which category is your business’s “strong point” (the category that helps you stand out from the competition)?

Custom design
36%
Bridal & diamonds
27%
General jewelry services (inc. repairs)
16%
Estate
6%
Fashion jewelry
5%
Colored gemstones
4%
Fine jewelry
2%
Watches
2%
Silver
1%
Other (please specify)
1%
COMMENT: Throughout our survey, there weren’t many areas where men and women diverged in terms of how they managed their stores. This was one. Interestingly, 32% of male owners said their strong point was bridal compared to only 14% of women. The service that allowed most women-run stores to stand out was custom design, with almost half of women (47%) choosing it, compared to 31% for male owners.
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9. Check the paid services offered by your store

The Big Survey of U.S. Jewelers 2019: The Basics

10. How big is your (main) store?

The Big Survey of U.S. Jewelers 2019: The Basics

COMMENT: The changes have been incremental, but store size seems to be changing most at the extremes. There are more small stores and more big ones: Almost a quarter (24%) of the stores responding to this year’s survey were less than 1,000 square feet (up from 19% five years ago) while 12% were more than 4,000 sq feet in size (up from 9% five years ago).

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SPONSORED VIDEO

Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

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