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Here’s the Toughest Competitor That Independent Jewelers Face

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Things have sure changed in recent years.

Part of running a successful jewelry store is keeping an eye on your competition. And now more than ever, that goes beyond just knowing what the shop across town is selling.

As part of The Big Survey 2017, we asked jewelers, “Who is your toughest competitor?” For some context, we then compared the results to those of 2008.

As it turns out, internet retail has surged to become the biggest threat to independent jewelers. The competitive pressure from other local jewelers and chain jewelers has receded.

Here are the results in detail:

Internet retailers

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2017

38%

2008

23%

 

Other local independent jewelers

2017

29%

2008

32%

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Jewelry chain stores

2017

14%

2008

19%

 

Big box stores

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2017

5%

2008

7%

 

“Wholesale” retailers

2017

6%

2008

6%

 

Designers/vendors with retail outlets

2017

2%

2008

1%

 

Other

2017

5%

2008

12%

Full results of the Big Survey, which had more than 715 respondents, will be published in the October edition of INSTORE.

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Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

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Here’s the Toughest Competitor That Independent Jewelers Face

mm

Published

on

Things have sure changed in recent years.

Part of running a successful jewelry store is keeping an eye on your competition. And now more than ever, that goes beyond just knowing what the shop across town is selling.

As part of The Big Survey 2017, we asked jewelers, “Who is your toughest competitor?” For some context, we then compared the results to those of 2008.

As it turns out, internet retail has surged to become the biggest threat to independent jewelers. The competitive pressure from other local jewelers and chain jewelers has receded.

Here are the results in detail:

Advertisement

Internet retailers

2017

38%

2008

23%

 

Other local independent jewelers

2017

29%

Advertisement
2008

32%

 

Jewelry chain stores

2017

14%

2008

19%

 

Advertisement

Big box stores

2017

5%

2008

7%

 

“Wholesale” retailers

2017

6%

2008

6%

 

Designers/vendors with retail outlets

2017

2%

2008

1%

 

Other

2017

5%

2008

12%

Full results of the Big Survey, which had more than 715 respondents, will be published in the October edition of INSTORE.

Advertisement

SPONSORED VIDEO

Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

Promoted Headlines

Most Popular