Connect with us

Headlines

Jewelers Feeling Good as We Reach the Mid-Point of the Year

mm

Published

on

The INSTORE Jewelers Confidence Index edged back up to the high 50s in early July against a backdrop of a strong economy, cheap credit, and rising household income – especially at the top end.  

Forty percent of the jewelers in our survey said the short-term prospects for their business had improved in the past month, compared to just 9 percent who said it had deteriorated. That latter figure was the lowest since we started doing our confidence reports in mid-2016 and suggests the benefits of the booming economy are filtering down to more of the jewelers how had so far missed out.

Meanwhile, 45 percent of jewelers said they were buying less inventory this year compared to the same period in 2017, while 22 percent said they were buying more, tracking a trend we have seen for most of the last two years. It is these two elements – outlook and orders — that make up the JCI.

In terms of actual store performance, 49 percent of the jewelers said their sales were up over June 2017 while 22 percent said they were down. That was a notch down from last month’s very strong figures (54 percent up and 21 percent down) but points to an industry that overall is enjoying good times.

Our most recent Brain Squad survey, taken between June 30 to July 20, attracted responses from 265 independent jewelry store owners across the U.S. and Canada. 

Advertisement

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Downsizing? Wilkerson Is Here to Help

Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

Promoted Headlines

Most Popular