Editor's Note

Jewelers’ Sales Have Been Strong, But Now Come the Holidays

Never fear: Innovative new strategies can help you make sales at a distance.

Published

4 years ago

October 14, 2020

Trace Shelton Instore October 2020 Issue

AS I WRITE this in early September, reports continue to roll in that retail jewelers’ sales have grown increasingly stronger since reopening post-quarantine. In our most recent Brain Squad survey, 51 percent of respondents said sales were up or “way up” in August.

If that seems surprising in a time when the pandemic continues to drag on and 13 million-plus people remain unemployed, perhaps it shouldn’t. After all, as hard as COVID-19 has been, it’s also changed the way many want to spend their money. Retailers report a boom in engagement ring sales as couples are deciding they don’t want to waste any time committing their lives to one another. Meanwhile, people with means aren’t spending money on travel, so they’re turning to their local jewelers for retail therapy.

Nevertheless, some in the jewelry industry are pessimistic about the holiday season. Maybe they think this buying boom will peter out; maybe it’s the pandemic, the upcoming election, or rising gold prices. Regardless, the smart course of action is to do whatever you can to ensure a strong holiday season for your store, even if it means doing things differently.

We’re here to help: Our lead story presents 12 virtual strategies and promotion ideas to drive holiday business (plus another six stellar ideas in the online version of the story at instoremag.com). I hope you’ll find one or more that can boost your holiday sales and help you kick 2021 off with a bang!

Jewelers’ Sales Have Been Strong, But Now Come the Holidays

Trace Shelton

Editor-in-Chief, INSTORE
trace@smartworkmedia.com

Five Smart Tips You’ll Find in This Issue

Call a staff meeting to strategize how to earn more gross margin, clear out old inventory or make more add-on sales this season. (Manager’s To-Do, p. 34)
Engage clients through text or email by asking, “I have some gift ideas for you! Want to hop on a video call?” (The Big Story, p. 44)
Use a platform called Loom to video-record your virtual custom design meetings for clients. (The Big Story, p. 44)
Host a virtual trunk show, perhaps featuring the designer, giveaways, free refreshments and contests. (The Big Story, p. 44)
Ask clients to rate their interest in an item from zero to 10, then ask what they need to get to a 10. (The Close, p. 61)

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”