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Jewelers See Less than 30% Chance of a Recession Next Year

There’s still time to take the Big Survey!

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Jewelers See Less than 30% Chance of a Recession Next Year

MOST INDEPENDENT JEWELERS see no more than a 30 percent chance of the economy falling into recession next year based on their current financial situations and past business experience, according to INSTORE’s 2019 Big Survey.

That’s slightly more upbeat than a panel of prominent economists surveyed by Bloomberg News that estimated there’s about a 35 percent chance of a downturn in 2020.

In the event the economy does turn south, 63 percent of jewelers felt their business were in a “strong” or “very strong” position to weather a slump.

Please note that the Big Survey is still open and we are adding new responses as they come in. If you’re a jewelry store owner or manager and would like to take the survey, it can be accessed HERE. Be quick though, we’ll be closing it soon.

(Please note the Big Survey is designed for owners or managers)

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Chris Burslem is Group Managing Editor at SmartWork Media.

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SPONSORED VIDEO

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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