Connect with us

Headlines

Jewelers’ Confidence Levels Drop From Record Highs

mm

Published

on

But an upbeat mood still prevails.

The INSTORE Jewelers Confidence Index in early February fell back from the record highs achieved around the holiday season, although it indicated jewelers are still mostly upbeat as we begin the march into a new year.

Following on from readings in the mid-60s in December and January, the JCI slipped back to 52 in the first half of February. Note we carried out our survey against a backdrop of a mini meltdown on Wall Street and budgetary uncertainty in Washington. The reading also follows a mixed sales performance by independent jewelers in January. Forty-three percent of the jewelers in our Brain Squad survey group reported sales increases in January compared with the same month in 2017, while 29 percent said sales had declined.

 

Jewelers’ Confidence Levels Drop From Record Highs

 

In our most recent confidence survey, 42 percent of the respondents said the short-term outlook for their business had improved compared to 11 percent who said it had deteriorated. Meanwhile, only 17 percent said they had ordered more stock in January compared to the same month in 2017, versus 51 percent who said they’d ordered less. It is these two elements — outlook and orders — that make up the JCI. While jewelers picked up their buying ahead of the 2017 holiday season, the roughly half who are now cutting back on inventory spending marks a return to the trend we saw most of last year — as bullish as jewelers are about their prospects, they are buying less stock.

Advertisement

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

Promoted Headlines

Most Popular