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By The Numbers: The Consumers Aren’t Buying Jewelry Myth

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By The Numbers: The Consumers Aren’t Buying Jewelry Myth

THE CHART ABOVE shows 12-month rolling averages for the number of items the average store in our survey sold and also the average ticket for the same period.

What’s amazing is that jewelers are selling as many pieces as ever, just at lower prices. The question then is whether customers are buying cheaper pieces because they have less spending power or because sales staff are directing them to lower-priced goods.

To ensure the recession isn’t a self-fulfilling prophecy in your store:

  1. Drum it into your staff that people are still buying jewelry.
  2. Don’t stop replacing expensive items.
  3. Buy up. The average value of your stockholding should be 20 percent higher than your average sale.
  4. Keep the margins up. Don’t reduce your starting prices.

By The Numbers: The Consumers Aren’t Buying Jewelry Myth

This story is from the May 2009 edition of INSTORE.

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Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

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