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

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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. 

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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.”

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