Editor's Note

People Have Been Reminded of Why They Love Jewelry — And They’re Not Likely to Forget

That’s the reason jewelry retail likely won’t see a pronounced downturn when the pandemic recedes.

Published

2 years ago

January 30, 2022

Trace Shelton Instore February 2022 Issue

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.

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.

People Have Been Reminded of Why They Love Jewelry — And They’re Not Likely to Forget

Trace Shelton

Editor-in-Chief, INSTORE
trace@smartworkmedia.com

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)

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”