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)

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”