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The Big Survey 2018: Buying

Thriving jewelers buy more aggressively ... and re-order hot sellers more promptly.

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From laboratory-created diamonds to trade show buying to purchasing off the street, there are lots of options these days for jewelers to acquire their goods. Thriving jewelers are more apt than struggling ones to buy more aggressively regardless of avenue, including a higher frequency of reorders when selling through product.

 

20. Is your buying at trade shows …

INCREASING
Overall
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 14%
Thrivers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It
20%
Strugglers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 6%
STAYING THE SAME
Overall
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 40%
Thrivers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It
45%
Strugglers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 29%
DECREASING
Overall
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 36%
Thrivers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It
25%
Strugglers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 53%
I NEVER BOUGHT AT SHOWS
Overall
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 11%
Thrivers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It
11%
Strugglers
Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It 12%

COMMENT: There has been much talk in recent years about waning participation at trade shows from Vegas to Basel. But our numbers seem to suggest jewelers doing well still see value in show attendance. Meanwhile, more than half the Strugglers said they were cutting back on their showgoing.

 

Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It

21. What jewelry or watch brand would you most like to add to your cases?

1. Rolex
2. Tag Heuer
3. David Yurman
4. Michele
5. Gabriel & Co.
6. Bulova
7. Movado
8. Patek Phillippe
9. Omega
10. Tie: Tacori and Kendra Scott

COMMENT: Swiss watch brands dominated the list, which is at once surprising, given that many of the mid-range brands haven’t done all that well in recent years and because so few jewelers cite watches as a key category, and perhaps not so strange — the big watch brands are much better known by the general public and arguably more prestigious than jewelry brands.

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21. Which category is your store’s point of “differentiation”?

Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It

COMMENT: Strugglers were much less likely to say their point of differentiation was custom design, with just 23% selecting this service compared to 38% for the thriving stores. Strugglers were also more likely to pick silver as their strong point (3% vs. 0.4%) as well as watches (4% vs. 2%) and colored gemstones (6% vs. 4%).

 

22. What do you buy off the street?

Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It

COMMENT: There’s gold to be found out there in the drawers and jewelry boxes of your customers. Thriving jewelers were more likely than Strugglers to be buyers in every category — except silver.

 

23. How often do you place re-orders?

Big Survey 2018: See What Jewelers Bought This Year, and Why They Bought It

COMMENT: The takeaway is clear: The stores doing best are those that order most quickly. Nearly half the stores experiencing great numbers in 2016 and 2017 reorder on a weekly basis.

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Wilkerson Testimonials | C. Aaron Peñaloza Jewelers

Wilkerson Paves the Way for the Future

After serving the San Antonio, Texas community for decades, C. Aaron Peñaloza Jewelers closed its doors earlier this year. Aaron and Mary Peñaloza, the store’s owners, chose Wilkerson to handle their retirement sale. “In the first six days, we did six months’ worth of business,” says Aaron. “In the first three weeks, we did a year’s worth of business.” Mary Peñaloza says Wilkerson’s ability to tailor the sale to their store’s requirements really made it all so much easier. “They are professionals,” she says. “They know what they’re doing. They have a plan, but they will listen to you and adjust that plan to your needs.”

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