Here’s What Jewelers Fear the Most

Published

8 years ago

August 21, 2017

INSTORE Staff

There’s one agency no one wants to hear from.

As a jeweler, certain fears keep you awake at night. But have you ever wondered if your colleagues are worried about the same things you are?

As we collect responses for this year’s Big Survey, we’re bringing you a few highlights from years past. We call them Big Survey Flashbacks.

Today we bring you a question from our 2014 survey: “What scenario frightens you the most?”

The most popular answer, chosen by 19 percent of respondents, was related to audits: “The IRS invites you to come in and discuss your tax return.”

Other frightening scenarios and the percentage of respondents who chose them:

The diamond is fake! — 16 percent
Crack! Egads, I’ve broken her rings. — 13 percent
A big-name jeweler is opening across the road. — 12 percent
It’s a sure thing. The buy-in is $100,000 … — 11 percent
Boss, I’ve had a better offer. — 7 percent
You’ll be in Vegas and the kid is in charge for five days. — 1 percent

Want to have your say on the industry and what it means to own or manage an American jewelry store in 2017? Click HERE to take the latest INSTORE Big Survey. (The survey will probably take about 20 minutes to complete and is designed to be taken solely by store owners and managers.)

Ready to Relocate? Wilkerson Makes Your Move Seamless

When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time. "We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them. Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."