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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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This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

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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

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

Promoted Headlines

Most Popular