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Here’s How Much Jewelers Drink

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The hardest-drinking jewelers in the business? They’re from the Midwest, with 17 percent of jewelry store owners or managers in the heartland putting away more than one drink a day. (Yes, compared to sailors or Madison Avenue advertising execs, you might say jewelers are a pretty sober lot.)

Our brothers and sisters up north in Canada were the least likely to imbibe, with 39 percent abstaining completely, followed by jewelers in the West, where 35 percent were teetotalers.

Another interesting fact revealed from the mass of data we collected as part of Big Survey 2016 was that jewelers who drink also tend to own the biggest stores. Just 21 percent of the jewelers who own stores that do more than $1.5 million in sales a year abstain from alcohol compared with 52 percent of owners of stores doing less than $250,000.

This finding backs up economic research from 2010 that found people with high incomes reported consuming more alcohol than people of more modest means (specifically, 81 percent of respondents making over $75,000 per year drink alcohol, versus 46 percent earning under $20,000).

Of course, opening a bottle of gin first thing in the morning isn’t going to make you a better businessperson. One theory is that people who drink more do so because they socialize more.

And getting out in the community is definitely a forward indicator when it comes to business success.

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How many alcoholic drinks do you consume a week?

0

 

30%

1-7

 

55%

8-14

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12%

More than 14

 

3%

 

This article is an online extra for INSTORE Online.

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Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”

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Here’s How Much Jewelers Drink

mm

Published

on

The hardest-drinking jewelers in the business? They’re from the Midwest, with 17 percent of jewelry store owners or managers in the heartland putting away more than one drink a day. (Yes, compared to sailors or Madison Avenue advertising execs, you might say jewelers are a pretty sober lot.)

Our brothers and sisters up north in Canada were the least likely to imbibe, with 39 percent abstaining completely, followed by jewelers in the West, where 35 percent were teetotalers.

Another interesting fact revealed from the mass of data we collected as part of Big Survey 2016 was that jewelers who drink also tend to own the biggest stores. Just 21 percent of the jewelers who own stores that do more than $1.5 million in sales a year abstain from alcohol compared with 52 percent of owners of stores doing less than $250,000.

This finding backs up economic research from 2010 that found people with high incomes reported consuming more alcohol than people of more modest means (specifically, 81 percent of respondents making over $75,000 per year drink alcohol, versus 46 percent earning under $20,000).

Of course, opening a bottle of gin first thing in the morning isn’t going to make you a better businessperson. One theory is that people who drink more do so because they socialize more.

Advertisement

And getting out in the community is definitely a forward indicator when it comes to business success.

 

How many alcoholic drinks do you consume a week?

0

 

30%

1-7

 

55%

Advertisement

8-14

 

12%

More than 14

 

3%

 

This article is an online extra for INSTORE Online.

Advertisement

Advertisement

SPONSORED VIDEO

Windsor Jewelers: Building for Tomorrow with Wilkerson

After 43 years in the jewelry industry, Windsor Jewelers' President Rob Simon knows the value of trusted partnerships. When planning a store expansion in Winston-Salem, North Carolina, he turned to Wilkerson to transform existing inventory into construction capital. "There have been very few companies I've dealt with that I totally trust," Simon shares. "Wilkerson understands their success is 100% based on your success." The partnership enabled Windsor to fund new showcases and construction while maintaining their position as their community's premier jeweler. For Simon, the choice was clear: "Over the years, I've been abused in every direction there is by different people in this industry, so I know what to avoid. One company not to avoid is Wilkerson."

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