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By The Numbers: December Not Quite as Bad




By The Numbers: December Not Quite as Bad

THE BAD NEWS: December’s numbers were dismal. The good news? The percentage drop was less than in November. Interestingly, the average store sold 48 more items in December compared with the same month in 2007. However they reduced their average retail value by such a degree ($99, or 28 percent) that gross profit was slammed. Such a strategy is not sustainable. You have to get back to selling at full price. That could mean eliminating some vendors and focusing on serving your best customers by doing things such as throwing invitation-only private events. Cutting costs will also boost your margin.

By The Numbers: December Not Quite as Bad

This story is from the March 2009 edition of INSTORE.

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, or



Moving Up — Not Out — with Wilkerson

Trish Parks has always wanted to be in the jewelry business and that passion has fueled her success. The original Corinth Jewelers opened in the Mississippi town of the same name in 2007. This year, Parks moved her business from its original strip mall location to a 10,000-square foot standalone store. To make room for fresh, new merchandise, she asked Wilkerson to organize a moving sale. “What I remember most about the sale is the outpouring excitement and appreciation from our customers,” says Parks. Would she recommend Wilkerson to other jewelers? “I would recommend Wilkerson because they came in, did what they were supposed to and made us all comfortable. And we met our goals.”

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