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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

It Was Time to Make a Decision. It Was Time to Call Wilkerson.

Except for a few years when he worked as an accountant, Jim Schwartz has always been a jeweler. He grew up in the business and after “counting beans” for a few years, he and his wife, Robin, opened Robin James Jewelers in Cincinnati, Ohio. “We were coming to a stage in our life where we knew we have to make a decision,” says Jim Schwartz. He and Robin wanted to do it right, so they called Wilkerson. The best surprise (besides surpassing sales goals)? “The workers and associations really care about helping us move out own inventory out of the store first. It was very important to us.”

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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

It Was Time to Make a Decision. It Was Time to Call Wilkerson.

Except for a few years when he worked as an accountant, Jim Schwartz has always been a jeweler. He grew up in the business and after “counting beans” for a few years, he and his wife, Robin, opened Robin James Jewelers in Cincinnati, Ohio. “We were coming to a stage in our life where we knew we have to make a decision,” says Jim Schwartz. He and Robin wanted to do it right, so they called Wilkerson. The best surprise (besides surpassing sales goals)? “The workers and associations really care about helping us move out own inventory out of the store first. It was very important to us.”

Promoted Headlines

Most Popular