Connect with us

Editor's Note

The Best Parts of the Big Survey Are the Human Interest Answers

Data is critical to managing a business, but the people are what make our industry special.

Published

on

NEARLY 750 JEWELRY retailers participated in our 14th annual Big Survey, which makes it the most substantial amount of information ever gathered from retail jewelers across North America. That also makes it one of the most useful articles you’ll read this year.

This time, we delve into crucial areas for every jewelry store owner, including top-performing brands, online sales, lab-grown diamonds, the impact of COVID-19, gold buying, the election, millennials, social media, and driving traffic. Equally as important, we ask retailers to describe their best and worst habits, top promotions, best $100 investments, and time management tips.

In all, it’s a fantastic repository of statistics and best practices — so much so that it’s impossible to fit all the good stuff into the magazine. So be sure to check out instoremag.com for more excellent advice and reactions from The Big Survey.

As always, we also included some fun questions in the mix, like “If you were a gemstone, what would you be?” or “What do you proudly ‘do wrong,’ and why?” We do it because the most interesting thing about the retail jewelry sector are the personalities that comprise it. You’re a varied and fascinating lot. Your experiences are myriad and compelling, your stories entertaining. Bottom line: Those are our favorite answers in the survey, because they tell us who you really are.

As important as they are, statistics don’t tell the story of the jewelry business. Its people do.

Thanks for participating in The Big Survey, and we hope you enjoy reading the results!

Advertisement
Best wishes for your business,

The Best Parts of the Big Survey Are the Human Interest Answers

Trace Shelton

Editor-in-Chief, INSTORE
[email protected]

Five Smart Tips You’ll Find in This Issue

  1. Send a mailer offering to clean, inspect and provide jewelry advice to your clients. (Ask INSTORE, p. 60)
  2. Set a fixed time you’ll leave your store in order to be more productive and achieve work/life balance. (In Your Store, p. 53)
  3. Extend your return policy to Jan. 30 so that early shoppers don’t have to worry about buying a gift that can’t be exchanged. (Manager’s To-Do, p. 24)
  4. Talk with your sales, advertising and website teams about where you will use store lifestyle images before a photo shoot. (Andrea Hill, p. 57)
  5. Re-engage with online browsers who abandon their carts and see if you can close the sale. (David Brown, p. 58)

Trace Shelton is the editor-in-chief of INSTORE magazine. He can be reached at [email protected].

Advertisement

SPONSORED VIDEO

Thinking of Liquidating? Think: Wilkerson

When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says.

Promoted Headlines

Most Popular