David Brown

By The Numbers: Danger of Unproven Lines

Published

15 years ago

July 2, 2008

David Brown Instore July 2008 Issue

WHIP OUT YOUR data sheets, it’s time again to see how you measure up against Joe Average?Jeweler. Monthly figures are below. Our highlight category for July is Unproven Lines.

Those bright shiny things you fall in love with at first sight do indeed have the potential to set your store apart. But when you consider only about one-third of it will sell in the first year, it’s easier to see the danger.?Here, more than half the “new” inventory in the average U.S. jeweler is already 60 days old and aging quickly.

By The Numbers: Danger of Unproven Lines

This story is from the July 2008 edition of INSTORE.

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David Brown is the president of Edge Retail Academy, a leading jewelry business consulting and data aggregation firm that provides expert business improvement plans to help with all facets of your business, including improved financials, healthier inventory, sales growth, increased staff performance, recruiting and retirement/succession planning, all custom-tailored to your store’s needs. They offer Edge Pulse to better understand critical sales and inventory data, to improve business profitability, benchmark your store against 1,200-plus other Edge Users, and ensure you stay on top of market trends with their $3 billion-plus of industry sales data. Contact (877) 569.8657, ext. 001, Inquiries@EdgeRetailAcademy.com or EdgeRetailAcademy.com.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”