Connect with us

Press Releases

JA and JBT Release Retail Jewelers Benchmarking Study

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

mm

Published

on

(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.

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular