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Readers Sound Off On E-Commerce, Signet and Millennials

There’s hope in the form of Generation Z.

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Forward Revolution

The jewelry industry is undergoing significant changes because the concept of jewelry has changed. The very high-end luxury goods markets seem to be holding, but the squeezing of the middle class has changed disposable income. Who is buying the jewelry has changed as well. Self-purchasers prevail in this era of self (and selfie) celebration. These factors have evolved my purchasing and merchandising strategies. A pared-down inventory with only essential quick-sellers in understock coupled with targeted memo support is the new reality today for profitability. For their support, vendors must be viewed and treated as true business partners, not simply suppliers. This wasn’t how we did things in the past, but it has been instrumental in not just surviving but thriving. You adapt or die.

Podcast: An Explosive Prank and More Tales of Dumb Things Done in Jewelry Stores
JimmyCast

Podcast: An Explosive Prank and More Tales of Dumb Things Done in Jewelry Stores

Podcast: Until the Very End, This Cancer Patient Created Jewelry Memories for Her Family
Over the Counter

Podcast: Until the Very End, This Cancer Patient Created Jewelry Memories for Her Family

Podcast: A Flash of Cash and Other Meditations on the Value of Jewelry
Over the Counter

Podcast: A Flash of Cash and Other Meditations on the Value of Jewelry

E-commerce alone does not bring enough people through your door. We have found a way to give our clients the opportunity to do research on our website, narrow their selection and then come into our store for the final decision and purchase. We do this via our partnership with Stuller and the free addition of their online selling platform, which includes a cart system. It’s an easy addition to any website, it drives traffic to the store and it increases our online presence. — Jessica Rossomme, Mucklow’s Fine Jewelry, Peachtree City, GA

E-Futility

I have two stores; both have excellent web presence, nice SEOs, solid cost-per-click campaigns, display ad campaigns, and a nice social media following. Our websites show our inventory, which can be purchased online. We have included the e-commerce option in all of our advertising and marketing and even coded the site to offer sale discounts during events and holidays. All of this has been in place for six-plus months, and we are still yet to sell a single piece through the site. How about that! — Chad Elliott Coogan, Gems of La Costa, Carlsbad, CA

Hard to Keep Up

Trying to stay ahead of the many changes Google, Instagram and Facebook make after we have somewhat mastered their previous algorithms is a career in itself! Wish there were some Cliff Notes for us retailers! — Susan Eisen, Susan Eisen Fine Jewelry & Watches, El Paso, TX

Signet Silence

Why are we not talking about Signet and sexual assault? Talk about taking the glamour out of jewelry — or is this entire industry tone-deaf? — Alan Lindsay, Henry’s, Cape May, NJ

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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On Successful Sale Events and More of Your Letters from August

One reader is looking for good ways to clear out her inventory dawgs.

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On “Best Day Ever”

We enjoyed reading “Best Day Ever.” We used to think that day was ahead of us rather than behind us. With recent things going on, that sadly may not be the case. We hope we are wrong in those future tidings. — Alex Weil, Martin’s Jewelry, Torrance, CA

It was a good article. The jewelry industry is old and beat up. The article hopefully gives life to those who are ready to throw in the towel. — Christopher Sarich, Noah Gabriel & Co. Jewelers, Wexford, PA

Loving Decker

We love your magazine! July was a good edition. We would like to see more articles by Shane Decker! — Sarah Vatter, Thomas Michaels Designers, Camden, ME

Kickstart My Dawg

With mid-year inventory reviews in the rearview mirror and serious thought going into dumping the underperforming dawgs, I was curious as to the best options other stores have successfully tried? One we recently were batting around was a Facebook auction for those “lazy items.” Who doesn’t love a sale and then frenzied bidding until the buzzer rings? We also considered if the item sold for more than its original retail value (hey, it could happen!), then we could donate the excess. Our customers could choose from the store’s favorite charities. All transactions would be done in the store to avoid those less scrupulous types. Has anyone tried this? Tips, suggestions or cautions? — Denise Oros, Linnea Jewelers, La Grange, IL

Time to Adjust

Online jewelry sales have hurt the brick-and-mortar establishments, but it’s time to move on and adjust to market changes. Nothing can replace quality personal service, and the Internet does not offer face-to-face interaction with a live human being with knowledge and a kind demeanor. — Joe Caron, Caron’s Jewelry, Bristol, RI

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Your Letters On The INSTORE Design Awards, the Return to The Sands, and More

Are retailers obligated to buy things back?

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On The INSTORE Design Awards

  • I was pleased to see our own Wichita lady, Debra Navarro, featured. We carry her work and have done several shows with her, and have been able to see her growth and just the guts and determination it takes to do this. — Robin Lies, Burnell’s Creative Gold, Wichita, KS
  • Loved the men’s jewelry winner [by Tavannes Watch Co.]! I always wanted to have a watch as a belt buckle. What an innovation for men … it will tell you it’s time to eat, but not to eat too much … then you’ll never be able to see what time it is. No big bellies here! — Bruce Goodheart, Goodheart Jewelry, Overland Park, KS
  • Enjoyed looking at the unique pieces of the INSTORE Design Awards. Gives me inspiration and ideas for clients. — Lyla Ismael, Lyla Jewelers, Oak Lawn, IL
  • Amazing to see new jewelry ideas in the INSTORE Design Awards. Such a great issue every year! — Jennifer Farnes, Revolution Jewelry Works, Colorado Springs, CO

You Bought It, You Keep It

Interesting discussions going on about lab-grown diamonds. One of the things talked about is what do you do when the customer brings it back to sell or trade and the prices have dropped on them. I’ve always thought, aside from standard 30-day returns or exchanges offered, why is it that a retail store is obligated in any way to take back merchandise that is used? How is it that somehow consumers feel that they can wear a piece for years and then just sell it back to stores? I realize that some in our industry thrive on buying back, but why should the store do the same when that is not their business model? Always puzzled me. — Alex Weil, Martin’s Jewelry, Torrance, CA

Brilliant Move

Vegas was a nice boost to remind me how special our industry is. And the move of JCK/LUXURY back to The Sands convention center this year was brilliant. It’s a thousand times better! — Marc Majors, Sam L. Majors, Midland, TX

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Letters from Readers on Failure, Trade Shows and More

One reader advises making up for lost sales online with higher repair prices.

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On “The Failure Issue”

Chris Burslem’s article [“Epic Fail”] gives you a definite perspective. We’re all trying to become better jewelers. Sometimes having to throw the dice really works. — Bruce Goodheart, Burnells Creative Gold, Wichita, KS

It’s sitting right next to me here on my nightstand. I haven’t read it yet, but I’m looking forward to it. Though I’ve had so many epic fails over the past seven years that the lead story title is making my PTSD flare up and giving me little panic attacks. I’m laughing as I write this, but I’m actually serious. — Andrea Riso, Talisman Collection, El Dorado Hills, CA

Making Up for Lost Profits

I feel our industry should wake up and realize that the Internet is here to stay, and it is just another progression in how the customer prefers to shop. We used to have corner grocery stores and then supermarkets — now we just place an order and drive up for pickup or have them delivered.

Jewelry stores that offer sizing and jewelry repair need to recognize that this is a service that cannot be performed online (but that day may soon come). This is an extra value to the customer who buys online, and if we don’t make profit on the sale of an item, we should consider making up the difference on this value we bring to the customer along with the trust we can instill. I have been using David Geller’s Blue Book for quite some time and have had very few objections to his prices, including when I charge more because folks mention they bought online. — Bill Brundage, Bill Brundage Jewelers, Louisville, KY

Now’s the Time

The greatest time to grow is when everyone else is stagnant because they are worried about the economy. — Bill Jones, Sissy’s Log Cabin, Little Rock, AR

High Cost of Attendance

It was interesting to see that at Baselworld, the big news was the high cost of either going or exhibiting. With the Vegas show coming up and the ridiculous costs involved in attending, will people label the costs as “just not worth it”? — Alex Weil, Martin’s Jewelry, Torrance, CA

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