AS I WRITE this, the holiday season has just ended, and most jewelry retailers are reporting record sales. Yet, I found it interesting (and not a little concerning) how many wrote to say that while they were happy about their success in 2021, they’re afraid that the gravy train is leaving town in 2022.
Whether they’re right, or whether it’s just human nature to think that when times are good, the other shoe must be about to drop, it always pays to plan ahead. Thus, it seems that we picked a perfect time to write about how to get “lean” in your business.
But to be clear, we’re not advocating that you pull back from doing things that could help you grow. Rather, we’re advising you to remove the clutter, shed any needless excess from your professional life, and move forward confidently into the future in a healthy, powerful manner.
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Yes, the time will come when people start to travel again. But does that mean they’re going to forget how meaningful a jewelry purchase can be? I doubt it. While jewelry spending may level off for a while, the pandemic reminded a lot of people that jewelry is timeless — and that it’s a visible and sparkling extension of who they are.
Before the pandemic, we wondered if jewelry would hold any meaning for the youngest generation. Today, we know that people of all generations have rediscovered just how much it can mean.
So get lean, but plan for success. People want what you’ve got.
Trace Shelton
Editor-in-Chief, INSTORE
[email protected]
Five Smart Tips You’ll Find in This Issue
- Send clients birthday cards timed to arrive one week before their birthdays. (Manager’s To-Do, p. 22)
- Ringfence one two-hour period of distraction-free work each day at a time of peak energy. (The Big Story, p. 30)
- Learn to use “strategic delay” to teach employees how to solve problems themselves. (The Big Story, p. 30)
- Scrap all inventory over 18 months old to lower your inventory total and save on taxes. (David Geller, p. 68)
- Partner with a wedding caterer for your next engagement-ring event — it’s a win-win. (Jackie Johnson, p. 70)
Exceeding Every Expectation: How Wilkerson Helped d’Original Jewelers Achieve an Outstanding Retirement Sale
When David Rees decided to retire after 34 years of serving Bellevue, Washington’s Eastside, he and his wife knew their exit from d’Original Jewelers needed to honor their decades-long commitment to customers while meeting their financial goals. Since opening in 1990, David had built a reputation as one of the area’s most trusted names for diamonds, custom jewelry, and repairs.
Understanding that a successful retirement sale requires more than just discounting merchandise, David chose Wilkerson to manage his transition. What impressed him most was their attention to detail, particularly in accounting and sales projections. The results far exceeded his expectations — the sale significantly outperformed projections, delivering exceptional financial results that surpassed his retirement goals.
“They were always there for support. If we needed anything, they were able to accomplish that,” David shares. For jewelers contemplating retirement, David’s experience demonstrates Wilkerson’s proven ability to deliver outstanding results while providing comprehensive support throughout the entire process. His recommendation? “100% yes.”
