Jewelers are reporting fewer but bigger sales.
Bigger diamonds are becoming more important for more jewelers.
In 2011, 11 percent of jewelers were generating the bulk of their diamond dollars from gemstones that were 1.5 carats or larger. By 2014, that had climbed to 14 percent. This year, according to the 2017 Big Survey, it was 19 percent.
SEE MORE BIG SURVEY 2017 STORIES
Our figures mirror those found by other industry observers, which show jewelers across the country reporting fewer but bigger sales, especially in diamonds.
INSTORE columnist David Brown’s Edge group has found diamond sales have rebounded from a low of 44 percent of store sales in 2008 to 55 percent this year. For some ideas on how to best deal with these changing market trends with your staffing, marketing and inventory management, read David’s recent column on the subject here.
Check out the chart below. You can see all the results of the 2017 Big Survey 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.
Latest Know How Stories
- This Trunk Show Brainstorm Brings a Little Vegas to Your Store
- Here's How You Ask the Client to Buy as a Favor to You
- How to Tell By Your Customer's Eyes Whether They Want to Buy or Not
- How Much Should Your Staff Cost You? This and Other 'Ask INSTORE' Responses
- When an Employee Backtracks on Leaving Her Job, the Owner Finds Himself Overstaffed. What Would You Do?