Things have sure changed in recent years.
Part of running a successful jewelry store is keeping an eye on your competition. And now more than ever, that goes beyond just knowing what the shop across town is selling.
As part of The Big Survey 2017, we asked jewelers, "Who is your toughest competitor?" For some context, we then compared the results to those of 2008.
As it turns out, internet retail has surged to become the biggest threat to independent jewelers. The competitive pressure from other local jewelers and chain jewelers has receded.
Here are the results in detail:
Who is your toughest competitor?
Other local independent jewelers
Jewelry chain stores
Big box stores
Designers/vendors with retail outlets
Full results of the Big Survey, which had more than 715 respondents, will be published in the October edition of INSTORE.
JEWELER SUCCESS STORIES
When it was time to close its doors, Cranstoun Court Jewellers of Sun City, Arizona chose Wilkerson to handle its liquidation sale. For all involved, the sale “far exceeded expectations.” But it wasn’t the first time Wilkerson helped sell off the store’s aging merchandise. They were there 13 years before, when ownership changed hands. See how Wilkerson can help you when it’s time to liquidate or sell off aging inventory.
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