40% of jewelers believe near-term prospects have improved.
The INSTORE Jewelers Confidence Index produced another strong reading in early June with 40 percent of jewelers saying the short-term prospects for their business had improved in the past month.
While the overall result of 56 was a notch down from May’s year-to-date high, it marks an improvement over the same period last year and indicates widespread optimism among jewelers.
According to our most recent Brain Squad survey, 40.1 percent of jewelers believe the near-term outlook for their stores had improved in the last month compared to 11 percent who said it had deteriorated. The rest said that conditions were basically unchanged. Meanwhile, 20 percent said they had ordered more stock in May compared to the same period in 2017 and 42 percent said they had ordered less. Interestingly, the figure for jewelers who had ordered the same amount of inventory reached its highest level for the year, at 38 percent.
It is these two elements – outlook and orders — that make up the JCI.
In terms of actual store performance, 54 percent of the jewelers said their sales were up over May 2017 while 21 percent said they were down. That marks an improvement over the previous month, when 48 percent of jewelers said their sales were up, and 26 percent said they’d declined.
Our most recent Brain Squad survey, taken between May 31 to June 12,and attracted responses from 210 independent jewelry store owners across the United States and Canada.
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