Big Survey

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

There’s still time to take the Big Survey!

Published

4 years ago

September 24, 2019

Chris Burslem

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)

Time to Do What You've Always Wanted? Time to Call Wilkerson.

It was time. Teri Allen and her brother, Nick Pavlich, Jr., had been at the helm of Dearborn Jewelers of Plymouth in Plymouth, Mich., for decades. Their father, Nick Pavlich, Sr., had founded the store in 1950, but after so many wonderful years helping families around Michigan celebrate their most important moments, it was time to get some “moments” of their own. Teri says Wilkerson was the logical choice to run their retirement sale. “They’re the only company that specializes in closing jewelry stores,” she says. During the sale, Teri says a highlight was seeing so many generations of customers who wanted to buy “that one last piece of jewelry from us.” Would she recommend Wilkerson? Absolutely. “There is no way that I would have been able to do this by myself.”