The Jewelers of America/Jewelers’ Board of Trade Retail Jewelers Benchmarking Study deadline has been extended to Oct. 15.
JBT notes that it’s an opportunity to “participate and find out how your store measures up to top-performing retailers, and as a result, improve your bottom line.”
Participate and receive online performance analysis reports ($295 value) that reveal how your store’s profitability, productivity and financial performance compares to your competition and industry averages. You’ll get:
- Benchmarking reports on store operations, staffing, sales data, merchandise by category, inventory and expenses.
- Reporting on key performance indicators like gross profit, inventory turn, average unit sale, average transaction amount.
- Dynamic filtering on data points (like location, store size, employee count) to compare information to your peers.
JBT states in a press release: “We seriously encourage you to take time to complete this survey because we believe it’s the most complete financial benchmarking report for retail jewelers that can help improve profitability. All information is reported in the aggregate and is held in strict confidence.”
Click here to start.
Jeff Corey, owner of Day’s Fine Jewelers and a JBT board member, says: “Benchmarking shows not only what we’re really good at, but also where there’s room for improvement to help the bottom line. I’m thrilled that JBT has partnered with JA to produce this valuable tool and encourage all retailers to participate.”
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For more information, contact Brenda Gamba, marketing/education consultant for JBT, at 910-553-4450.
Watch a short “how to” video:
Four Decades of Excellence: How Wilkerson Transformed a Jeweler's Retirement into Celebration
After 45 years serving the Milwaukee community, Treiber & Straub Jewelers owner Michael Straub faced a significant life transition. At 75, the veteran jeweler made a personal decision many business owners understand: "I think it's time. I want to enjoy my wife with my grandchildren for the next 10, 15 years."
Wilkerson's expertise transformed this major business transition into an extraordinary success. Their comprehensive approach to managing the going-out-of-business sale created unprecedented customer response—with lines forming outside the store and limits on how many shoppers could enter at once due to fire safety regulations.
The results exceeded all expectations. "Wilkerson did a phenomenal job," Straub enthuses. "They were there for you through the whole thing, helped you with promoting it, helping you on day-to-day business. I can't speak enough for how well they did." The partnership didn't just facilitate a business closing; it created a celebratory finale to decades of service while allowing Straub to confidently step into his well-earned retirement.
