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JA and JBT Release Retail Jewelers Benchmarking Study

Jewelers can purchase the report and gain access to invaluable data to increase profitability.

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(PRESS RELEASE) Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, and Jewelers Board of Trade (JBT), the member-owned association that delivers commercial credit information and unbiased data on thousands of jewelers, have released the 2019 Retail Jewelers Benchmarking Study, a financial benchmarking tool. The data, based on 2018 financial information, was collected from retail jewelers across the United States using an online survey platform powered by Dynamic Benchmarking.

The survey was sent to retail jewelers in a variety of operational capacities ranging from independents to companies with multiple locations. The survey included 350 questions spanning six different areas of the participants’ businesses including: Sales details per store, merchandise and services, operation and staffing, e-commerce and social media, budget and expenses, key performance indicators (KPI) per square foot and per FTE (full-time employees).

“Benchmarking is a vital business tool. We were thrilled to work with Jewelers of America to bring back a comprehensive survey that focuses exclusively on retail jewelers,” says Erich Jacobs, JBT president.

Retail jewelers can use the data from to measure how their store’s profitability, productivity and financial performance compares to industry averages. They can also identify strengths and weaknesses and make informed decisions to improve profitability.

Jewelers can see how their own store performance compares by ordering the 2019 Retail Jewelers Benchmarking Study at www.jewelers.org/benchmarking or by contacting Jewelers of America’s Member Services department at 800-223-0673 or [email protected]. An electronic version of the Study is available for $295.

The 2019 Retail Jewelers Benchmarking Study was graciously sponsored by De Beers Group, Jewelers Mutual Group and Synchrony.

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SPONSORED VIDEO

Thinking of Liquidating? Wilkerson’s Got You Covered

Bil Holehan, the manager of Julianna’s Fine Jewelry in Corte Madera, Calif., decided to go on to the next chapter of his life when the store’s owner and namesake told him she was set to retire. Before they left, Holehan says they decided to liquidate some of the store’s aging inventory. They chose Wilkerson for the sale. Why? “Friends had done their sales with Wilkerson and they were very satisfied,” says Holehan. He’d enthusiastically recommend Wilkerson to anyone looking to stage a liquidation or going-out-of-business sale. “There were no surprises,” he says. “They were very professional in their assessment of our store, what we could expect from the sale and they were very detailed in their projections. They were pretty much on the money.”

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