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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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SPONSORED VIDEO

How Howes Diamond Jewelers Closed a Location — and Opened the Door to What's Next

Dan Howes grew up in his family's jewelry business, eventually taking the helm of two locations his father launched in 1964. When it came time to consolidate, he turned to Wilkerson. "It was a pretty easy decision," Howes says, citing the company's strong reputation and a friend's successful experience. Wilkerson's proven sales roadmap delivered — meeting projected financial goals and guiding the process every step of the way. "This is their profession. They have it dialed in."

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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:

Internet retailers

Advertisement
2017

38%

2008

23%

 

Other local independent jewelers

2017

29%

2008

32%

Advertisement

 

Jewelry chain stores

2017

14%

2008

19%

 

Big box stores

Advertisement
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

How Howes Diamond Jewelers Closed a Location — and Opened the Door to What's Next

Dan Howes grew up in his family's jewelry business, eventually taking the helm of two locations his father launched in 1964. When it came time to consolidate, he turned to Wilkerson. "It was a pretty easy decision," Howes says, citing the company's strong reputation and a friend's successful experience. Wilkerson's proven sales roadmap delivered — meeting projected financial goals and guiding the process every step of the way. "This is their profession. They have it dialed in."

Promoted Headlines

Advertisement

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