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.
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
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.
