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Jewelers Grow a Little Less Optimistic

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The Jewelers’ Confidence Index has slipped recently.

American jewelers grew a little less optimistic about the outlook for their businesses in January in a sign that the post-election financial surge seen across the wider economy could be weakening.

The INSTORE Jewelers’ Confidence Index slipped back to 51 at the beginning of February, from 56 at the start of the year and a record high of 57 prior to the 2016 holiday season.

A score above 50 suggests jewelers are more positive than negative about their business prospects. In November, amid all the uncertainty created by the countdown to the election, the index showed a reading of just 45.

The INSTORE JCI is based on jewelry-store owners’ level of confidence in the short-term outlook for their stores as well as their willingness to place orders for new goods. And one of the interesting things about recent readings is the disparity between jewelers’ confidence levels and their intentions to stock up on product.

In our most recent survey, for example, 41 percent of jewelers said the outlook for their business had improved, compared to just 15 percent who said it had deteriorated. Yet, 53 percent of them said they ordered less new product compared to January 2016, while just 17 percent said they ordered more.

Jewelers, it seems, are upbeat about the potential for a pickup in sales, but are keeping their powder dry for now.

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This article is an online extra for INSTORE Online.

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