It continued an upward march.
The INSTORE Jewelers Confidence Index ticked higher in early May, reaching its strongest level of the year as jewelers showed increasing bullishness about the prospects for the rest of 2018.
Since a post-holiday season dip in January, the JCI has marched higher every month, reaching 58 this month against a backdrop of ongoing economic strength, falling joblessness, and rising consumer spending.
According to our most recent Brain Squad survey, almost 40 percent of jewelers believe the short-term outlook for their stores had improved in the last month compared to 7 percent who said it had deteriorated. The rest said that conditions were basically unchanged. Meanwhile, 24 percent said they had ordered more stock in April compared to the same period in 2017. While that was only half the number who said they had ordered less stock (48 percent), it marks an improvement from the early part of the year when the portion of jewelers planning expanded inventory buys fell to as low as 17 percent. It is these two elements – outlook and orders — that make up the JCI.
In terms of actual store performance, 47 percent said their sales were up over May 2017 while 26 percent said they were down. That marks a slight drop from the previous month, when 50 percent of jewelers said their sales were up, and 22 percent said they’d declined.
Our most recent Brain Squad survey, taken from May 1 to 11, attracted responses from nearly 230 independent jewelry store owners across the U.S. and Canada.
Four Decades of Excellence: How Wilkerson Transformed a Jeweler's Retirement into Celebration
After 45 years serving the Milwaukee community, Treiber & Straub Jewelers owner Michael Straub faced a significant life transition. At 75, the veteran jeweler made a personal decision many business owners understand: "I think it's time. I want to enjoy my wife with my grandchildren for the next 10, 15 years."
Wilkerson's expertise transformed this major business transition into an extraordinary success. Their comprehensive approach to managing the going-out-of-business sale created unprecedented customer response—with lines forming outside the store and limits on how many shoppers could enter at once due to fire safety regulations.
The results exceeded all expectations. "Wilkerson did a phenomenal job," Straub enthuses. "They were there for you through the whole thing, helped you with promoting it, helping you on day-to-day business. I can't speak enough for how well they did." The partnership didn't just facilitate a business closing; it created a celebratory finale to decades of service while allowing Straub to confidently step into his well-earned retirement.
