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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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When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

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