Categories: David Brown

By The Numbers: Danger of Unproven Lines

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.

This story is from the July 2008 edition of INSTORE.

David Brown

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.