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

5 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)

Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success

After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone. Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently. The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.