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By The Numbers: Sales Category — Slackers and Saviors

Lower price category saves the month.

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By The Numbers: Sales Category — Slackers and Saviors

Sales Cateogry — Slackers and Saviors

By The Numbers: Sales Category — Slackers and Saviors
Sales slipped in July but profitability held up. The slacker? Diamond sales. The savior? Beads again. That a lower priced category is performing so well is not surprising when you take into consideration the economic conditions. Nevertheless, should it be considered alarming that average retail value is falling given that the bead trend must ultimately fade? That depends on whether jewelers can turn all those new frenzied bead customers into long-term clients and whether they can restore their diamond margins. In other words, it’s up to you.

This story is from the October 2010 edition of INSTORE.

If you’d like to contribute your own data and receive a personalized KPI report each month, call (877) 910-3343 or e-mail: lynn@edgeretailacademy.com.

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After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”

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