Do You Or Don't You?Do You Keep Tabs On Local Competitors? Here’s What Our Brain Squad Said The results were split 50/50. Published 1 year ago on February 6, 2019By INSTORE Staff Instore February 2019 Issue Online Extra Share Tweet Yes: 48%I have sent paid people to secret shop to get prices and see what repair services are recommended. — Josh Rider, Dylan Rings, Montgomery, ALI click on every ad and check out all the social media and website of every online diamond engagement ring seller/promoter. I experience their vibe, accessibility, shopping features, value add-ons, education, etc. and use the experience to ask our guests where we can improve and then start making those improvements. It’s a constant work in progress, but well worth it as so many guests find us online and then realize we’re their neighborhood jeweler. — Jill Keith, Enchanted Jewelry, Danielson, CT JimmyCastPodcast: New Jewelry Store Owner Wilson Lin on Why He’s Opening This Year, of All Years JimmyCastPodcast: Larry Rickert on Working From Home and His Last Big Project JimmyCastPodcast: Jason Druxman Discusses Differences of Corporate and Independent Jewelry Stores I have the other area jewelers in my Facebook insights. It lets me see when they post, what they post, and what the response from the public is. That said, there is more than enough work for all of us, and I deeply respect my competition. All good folks. — Jo Goralski, The Jewelry Mechanic, Oconomowoc, WIWe check Facebook, ads, Instagram, Pinterest and community activities. — Dale Robertson, Dale Robertson Jewelry, Loveland, OHAlways checking out the other stores. Local and far away when on trips. Always call on the new for-lease signs, even if I just signed a new lease. Must always be aware of your market. Moved my store one mile nine years ago. Knew the market turned down some other spaces. When this landlord called, I knew the market, the prices and how desparate he was. Got a great lease with a great landlord. — Stephen Ware, Ware Designs, Lafayette, CAOur “covert operations” tend to be sending in friends or family to the other local jewelers with gold to sell or repairs to fix so that we can gauge whether our pricing is competitive. We want to get a feel for their pricing but especially the level of customer service because that is extremely important to us! — Mary Jo Chanski, Hannoush Jewelers, Rutland, VTI follow all of their social media pages and I am always trying to go see what special events they have going on. Plus, I secret shop ALL THE TIME! It is vital to know what your competition is doing and how they are selling. Gotta beat the best if you want to be the best. — Erica Lorenz, Michael & Sons, Reno, NVTalk to manufacturers’ reps and secret shop. Also participate in our state jewelers association. Word gets around. — Chuck Kuba, Iowa Diamond, Des Moines, IAKeep watch for commercials and billboards, print ads … always pay attention to what they are advertising and how. — Kim Hatchell, Galloway & Moseley, Sumter, SCNo: 52%What others are doing doesn’t influence me. — Kelly Jensen, Plateau Jewelers, Sammamish, WAI know who is around already. I know that I am one of the very few real goldsmiths in my area. I rely on word-of-mouth advertising and have an extremely high customer retention rate. — Catherine Dining, CG Designs, Lafayette, CAIf you keep looking in the rear view mirror, it is hard to go full speed ahead! — Jon Walp, Long Jewelers, Virginia Beach, VAI think the answer is really somewhere in between. We do talk to sales reps and customers about their offerings. We do also watch their advertising, both traditional and digital. — Steve Floyd, Floyd & Green, Aiken, SCI do keep tabs, but I don’t do much. Most of my “competition” is more what I consider “colleagues.” We’re friendly neighbors. But I follow them on social media, and they follow me. It’s as more to see what they’re doing so we DON’T overlap. But if you do find yourself in hardcore competition with others in your market, you better have Google alerts set up for them as well as yourself. — Casey Gallant, Stephen Gallant Jewelers, Orleans, MAWe don’t feel we have competition. The other stores are outdated in inventory, decor and customer service. I would rather worry about what we are doing right than what they are doing wrong. — Elysia Demers, Barnhardt Jewelers, Spencer, NCBecause other jewelers are not my competition — cellphone, computer and new technology sellers should be looked at as our competitors. As jewelers, we should all be colleagues! It should not be how I can beat out the jeweler down the street; rather, how as an industry can we get the public to realize that the gifts of technology are obsolete once they walk out the door whereas jewelry is a lasting legacy? — Patty Gallun Hansen, Dorothy Gallun Fine Jewelry, Cedarburg, WIWhat’s the Brain Squad?If you’re the owner or top manager of a U.S. jewelry store, you’re invited to join the INSTORE Brain Squad. By taking one five-minute quiz a month, you can get a free t-shirt, be featured prominently in this magazine, and make your voice heard on key issues affecting the jewelry industry. Good deal, right? Sign up here. Related Topics: FeaturedOnline Extra click to Comment(Comment) INSTORE Staff Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected]. Advertisement SPONSORED VIDEO Wilkerson TestimonialsWhen Liquidation Is the Best Option, This Legendary Jeweler Chose WilkersonGeorge Koueiter & Sons Jewelers, a 65-year old jewelry institution in Grosse Pointe, MI, had always been a mainstay in this suburban Detroit community. But when owners George and Paul Koueiter were ready to retire, they made the decision to close rather than sell. “We decided our best option to do the liquidation sale was Wilkerson,” says Paul Koueiter. The results, says George Koueiter, exceeded expectations and the process was easy. “Wilkerson just kept us in mind,” says George. “They never did anything without asking and whatever they asked us to do was just spot on.” You may like 1 in 2 Jewelers Surveyed Say They Require Masks In Their Stores. Here’s Why (And Why Not) Here Are Some Great “Why Didn’t I Think Of That” Display Ideas For Your Showcases More Than Half of Our Brain Squad Is Open on Mondays Promoted Headlines Perk Up Your EarsGabriel & Co. 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