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

3 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.

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)

Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success

After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone. Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently. The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.