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Jewelry Retailers Write In About Lab-Grown Diamonds, 2025 Expectations and More

One reader says don’t be afraid to stock high-priced jewelry.

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  • I honestly have no idea what to expect in 2025. I’ve always been nervous in January when starting a new year, but with the upcoming transition in the presidency and the price of gold, I don’t have a feeling either way! I am trying to manifest positivity and move forward, but I am going to buy more conservatively until I see a better, bigger picture. — Laura K., Oak Park, IL
  • You all are awesome and thank you sooooooo much for what you do. Maybe a little something about hiring? No one wants to work a full-time job anymore. We are all family and have a couple years before the grandkids are old enough (but they come and sit at the bench already; fingers crossed). — Sherrie S., Tigard, OR

editor’s note: Sherry, if you missed our lead story on hiring in March 2024, we suggest you check it out!

  • You are the best at keeping us updated in our industry. We are so upside-down with how business is today compared to 40 years ago when there was no internet, gold was $300 and diamonds were controlled by De Beers. Gold is through the roof, diamonds are made by man losing the romance and they are not rare as presented, and India controls diamonds. One thing never changes: service. And in this world, there is less and less. Service will be our commodity that keeps us going. — Amber G., Katy, TX
  • I strongly feel that people have finally emerged from the straitjacket of the pandemic. At last, they are going out again, traveling a lot and spending money! Don’t be afraid to stock high-priced pieces! At the very least, they will make your second-tier pieces look very affordable. This season, those showpieces disappeared remarkably, and we even continued to sell, like one sold this week in January! — Eve A., Evanston, IL
  • Lab-grown diamonds are to some extent driving the diamond business for now, and it remains to be seen where it’s taking us, over a cliff or upward. I don’t know! — Joe T., Lubbock, TX
  • The calendars for stores to follow are not only beautiful but so helpful, inspiring and we are using them all to connect better, market differently, and have more fun as store owners. Great ideas!! Thank you. — Christina B., Glastonbury, CT

editor’s note: If you haven’t already downloaded your Ultimate Calendar for Jewelers 2025, visit instoremag.com right now and get it for free! — Trace S.

  • You’re doing a great job, guys! Thank you so much for helping our industry! I have been part of this business since I’ve been a youngster, and I really enjoy it. Your magazine helps us to survive and flourish! — Brent H., Orleans, ON
  • I have to wonder about the profitability of lab-grown diamonds. It reminded me of stories I heard about the bead craze a few years back. Everyone was paying a fortune for beads, and as more and more stores jumped in and more people had them, the prices fell like a rock. Stores that had big inventories suddenly saw they had to mark down their beads to be competitive with new prices. I found a 2-carat round lab-grown diamond that I sold at Christmas was exactly that. I bought it three years ago and it just did not sell. It cost me almost triple the current replacement cost. All the training and incentives in store to have staff push natural over lab-grown does not overcome the consumer’s desire to buy a large diamond for far less when lab-grown have so easily ridden on the coattails of the mystic allure of natural diamonds. — David B., Calgary, AB

Share your thoughts with INSTORE. Email us at editor@instoremag.com

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When third-generation jeweler Sam Sipe and his wife Laura decided to close Indianapolis’ historic J.C. Sipe Jewelers, they turned to Wilkerson to handle their retirement sale. “The conditions were right,” Sam explains of their decision to close the 139-year-old business. Wilkerson managed the entire going-out-of-business sale process, from marketing strategy to sales floor operations. “Our goal was to convert our paid inventory into retirement funds,” notes Sam. “The results exceeded expectations.” The Sipes’ advice for jewelers considering retirement? “Contact Wilkerson,” Laura says. “They’ll help you transition into retirement with confidence and financial security.”

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