Connect with us

Editor's Note

Risky Business Pays Off

To thrive in jewelry retail, do something to distinguish yourself from the crowd.

Published

on

Risky Business Pays Off

The holiday season is critical to the success of most jewelry retailers. But what about the other 11 months of the year? Are you ready to distinguish your store in 2018?

In this issue, we look at seven “maverick” retailers who have taken unusual steps to set themselves apart not only from their local competitors, but from the traditional approach to jewelry retail. Take Chelsea Mead of Honey Designs Jewelry, who doesn’t just sell engagement rings; she acts as a concierge for the hopeful groom, coaching him on how to propose creatively and providing photography for the big moment as well. Or Nick Miller of Mint Diamonds and Jim Tuttle of Green Lake Jewelry Works, who both offer unique custom design experiences online. Or Dan Kulchinsky and family, who closed up their traditional retail store to offer a private, customizable luxury experience exclusively for VIPs.

Every retailer in our story took a risk in order to drastically differentiate themselves and offer something exciting to potential clients. Yet, each risk taken fit the unique personality, talent and resources of that particular owner.

What risk can you take to set your store up for success in the years to come? We hope you’ll get a few ideas from our story. (And when you do succeed with your new initiative, be sure to let us know so that you can be the next subject of INSTORE coverage!)

Until then, happy holidays and we’ll see you in 2018!

Risky Business Pays Off 

Advertisement
 
FIVE SMART TIPS YOU’LL FIND INSIDE THIS EDITION

1. Post photos of your best-selling jewelry pieces on Facebook daily.

2. Hold a beginner-friendly, project-based workshop for clients to build their own jewelry.

3. Place marketing in gyms and health clubs to attract young buyers.

4. At the end of each day, have each staff member write down three things that went well that day.

5. Charge more for laser repairs when it will take longer than a torch or if the customer will receive extra benefits as a result.

Advertisement

Advertisement

SPONSORED VIDEO

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.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular