Connect with us

Inbox

Rise in Prices, Trade Shows and More of Your Letters to the Editor for June

“Is this just reality and we have to face it and raise all our prices?”

mm

Published

on

  • Wondering what is going to continue to happen with the rise in prices for gemstones, labor, chains, watch parts, etc.? When will it end, or will it ever? Is this just reality and we have to face it and raise all our prices? — Susan Eisen, Susan Eisen Fine Jewelry & Watches, El Paso, TX
  • It is good to see jewelers returning to the trade shows and to see friends again! — Annette Kinzie, Leonard Jewelry, Stillwater, OK
  • We didn’t go to JCK last year because of COVID. We’re going this year. If we get COVID, we are going to be sooooooooooo mad. — Gretchen Schaffner, Eytan’s Designs, Sherman Oaks, CA
  • I’d love some more information on how jewelers overcome places like Blue Nile and James Allen. For us, though we have an online presence, we distinctly feel that the diamond buying processes should be done in person. I know others feel the same and am wondering how other jewelers handle customers who expect to just be able to buy a diamond online. — Becky Bettencourt, Blue River Diamonds, Peabody, MA

[Becky, check out our answer to this question in Ask INSTORE.]

  • We are in a celebration business. Lately, it has become a challenge with the things going on in the world, fights, politics, etc. It is hard to find people who are in the mood to celebrate lately. We need to help them find a reason to celebrate, and that helps business in what I think is a direct way. If nothing else, we can provide a feel-good product and try to bring some joy into people’s lives. — Alex Weil, Martin’s Jewelry, Torrance, CA
  • An integral part of our business has been buying precious metals in jewelry and diamonds secondhand. We have made a lot of profit margin by seeking this part of the business, which was a minimal part last year. This year, we are up 75 percent in precious metal and diamonds purchasing. Even upscale jewelers can find a professional and confidential way to capitalize on this income. — Rick Weadock, Jewelry-By-You, South Jordan, UT
  • More consumers are looking for transparency in what they are purchasing. They want to know the origin of the piece and other information available. Being educated in what your vendors are selling and where it is sourced will help with the transaction.Of course, there are plenty of people who don’t care, but it is better to be ready. — Cindi Haddad-Drew, Cindi’s Diamond & Jewelry Gallery, Foxboro, MA

Share your thoughts with INSTORE. Email us at [email protected]

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Maximize Every Sale with Wilkerson

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

Promoted Headlines

Most Popular