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Independent Jewelers’ Confidence Levels Edge Higher

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INSTORE JCI SEPT

Jewelers’ generally bullish view of the business environment held into August, although once again these upbeat feelings didn’t translate into larger inventory orders – more than half of the jewelers surveyed said they are buying less product than a year ago.

The INSTORE Jewelers’ Confidence Index edged up to 54 in the first part of August, up from 53 in July. The latest result – which is the second highest reading this year – means the JCI has been in positive territory for six of the first seven months of 2017.

In our most recent survey, 39 percent of the 206 independent jewelers polled said the prospects for their businesses had improved compared to 12 percent who said they’d deteriorated, while the rest said they had remained the same. Despite this mostly positive assessment, 54 percent of the respondents said they had ordered less stock in July compared to the same month last year, while 25 percent had ordered more. Those two factors – outlook and actual orders – form the basis of our index.

As for actual sales performance in July, the news was mostly good. Forty-two percent of the Brain Squad said their numbers were Up or Way up compared to 31 percent who said they were Down or Way Down over the same period last year. Twenty-seven percent said they were about the same.

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Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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