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Diminishing Middle Class Hurting the Big Jewelry Companies

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“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

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When the Kids Have Their Own Careers, Wilkerson Can Help You to Retire

Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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