Editor's Note

Editor’s Note: Trace Shelton On Using Your Down Time

Use your down time strategically, and you could set yourself up for a strong fourth quarter.

Published

9 years ago

July 8, 2014

Trace Shelton Instore July 2014 Issue

AS SUMMER HEATS UP, store traffic often cools off as your clients go on vacation. But use your down time strategically, and you could set yourself up for a strong fourth quarter. Over the next month, consider budgeting some time to:

1. Make your holiday events even better. Sure, your Ladies’ Night is always good, but what if you pulled out all the stops this year and created something that the whole town would be talking about? What would that event look like? Get with your staff, brainstorm ideas, and assign responsibilities. With several months of lead time, you could find new partners for the event, line up entertainment and craft an ad campaign.

2. Audit your inventory. When is the last time you checked the performance of different lines by price range, product category, or even particular SKUs? Is there a new look or category you could augment that could provide greater holiday success? It’s one thing to reorder fast-sellers, but it’s another thing entirely to look at the big picture and make plans that can make your holidays less stressful and more productive at the same time.

3. Spruce up your displays. You’re in the business of visual beauty, so why not apply that principle to your jewelry displays? Your props don’t have to distract from the jewelry to be interesting. You may be surprised at how many positive comments you’ll hear from customers.

Or maybe it’s time to start thinking of adding a new store location. If so, you won’t want to miss our lead story in this issue, “Multiplication Lessons” (page 24).

Whatever you do, don’t waste this valuable time. Take a big-picture look at your business. It may be the last chance you get for a while! Wishing you the very best in business,

TRACE SHELTON
trace@smartworkmedia.com

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”