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Deadline for Retail Jewelers Benchmarking Study Extended

Take the survey by Oct. 15.

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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:

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Video: Chicago Estate Jeweler Edward Kahn, Holocaust Survivor, Dies at 103

He operated the House of Kahn.

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Edward Kahn of estate jewelry company House of Kahn has died at age 103.

CBS Chicago reports that Kahn was one of the oldest Holocaust survivors.

He built House of Kahn, which has locations in Chicago and Palm Beach, FL, with his wife, Adele. Just six weeks ago he made public his plans to retire, with his daughter Tobina Kahn to take over the business.

Kahn came to the U.S. 6- years ago from Romania, having lost his parents and sister to the Holocaust.

Watch the video:

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Video: Jeweler Wins Fight for $500,000 Snow Promotion Claim

Customers will get refunds for jewelry they bought during the holidays.

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An Idaho jeweler that held a “snow promotion” will be refunding its customers for jewelry they bought during the holiday season, KREM-TV reports.

Clark’s Diamond Jewelers in Couer D’Alene, ID, wrote in a Facebook post Monday that it had “received notification from the insurance company that our policy has been officially accepted and the award will indeed be paid out!”

The store had promised that if it snowed 3 inches or more on Jan. 11, it would refund purchases made between Nov. 22 and Dec. 31. Those purchases amounted to about $500,000.

The claim had originally been denied. Weather Command, a verification firm that works with the jeweler’s insurer, at first said snowfall on the date in question had been less than the required amount.

The store had vowed to fight for approval, believing that snowfall had indeed exceeded 3 inches.

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New List Reveals the ‘Most Common Birthstone in Every State’

The analysis comes from Shane Co.

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A new ranking from Shane Co. looks at the “most common birthstone in every state.”

In a blog post on its website, the company explains that it “used the latest CDC natality data to determine how many people are born each month in every state.” From there it was able to identify the most and least common birthstones in each state.

Peridot, the birthstone for August, “ruled the map,” emerging as the most popular stone in 40 states, including New York and California. Other birthstones are emerald, ruby, sapphire and opal.

Take a look at full results below. Shane Co. also released several other maps, inluding ones showing the “cost of each state’s most common birthstone,” the “second most common birthstone in every state” and the “rarest birthstone in every state.”

popular birthstones

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