Connect with us

Headlines

Diminishing Middle Class Hurting the Big Jewelry Companies

mm

Published

on

“You don’t have to be a rocket scientist” to figure out why, consultant says.

It’s definitely a bear market out there and particularly so for publicly traded jewelry companies like Tiffany, Signet and Blue Nile, all of whom are trading down for the year, as Yahoo Finance writes.

The article cites Howard Davidowitz, chairman of national retail and consulting firm Davidowitz & Associates, who says the big jewelry companies face a threat in the declining purchasing power of the middle class: “You don’t have to be a rocket scientist to see that any company that appeals to the aspirational middle class is in trouble.” He also says that jewelers should focus on closing mall stores and instead shift their attention to online sales and urban stores.

Read more at Yahoo Finance

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Wilkerson Helped This Jeweler to Navigate His Retirement Sale Despite a Pandemic

Hosting a going-out-of-business sale when the coronavirus pandemic hit wasn’t a part of Bob Smith’s game plan for his retirement. Smith, the owner of E.M. Smith Jewelers in Chillicothe, Ohio, says the governor closed the state mid-way through. But Smith chose Wilkerson, and Wilkerson handled it like a champ, says Smith. And when it was time for the state to reopen, the sale continued like nothing had ever happened. “I’d recommend Wilkerson,” he says. “They do business the way we do business.”

Promoted Headlines

Most Popular