The Basics

The 2021 Big Survey was launched in mid-August and ran for about six weeks. During that time, almost 700 North American jewelers (all owners or managers) attempted to complete the online form, with most of the questions attracting close to 450 answers. Here, we break down the types of jewelers who answered the questions, their locations, size, and the services they offer.

Published

3 years ago

October 18, 2021

INSTORE Staff Instore November 2021 Issue

74. In what state is your (main) store located?

The Big Survey 2021: The Basics

75. Where is your store located by region?

The Big Survey 2021: The Basics

76. How many stores do you operate?

1
88%
2
8%
3-5
3%
6 or more
1%

77. Is your (main) store:

In a mall
4%
In a strip mall
24%
A downtown shopfront
32%
In its own free-standing building
24%
In a lifestyle center
5%
Office building/Business park
7%
Home studio
1%
On the Internet
1.5%

78. How would you describe your market?

Big urban market
9%
Suburban outskirts
19%
Medium-sized city
17%
Small city
31%
Country town
19%
Resort area
3%
The whole world – we’re online
2%

79. Describe your store

Full-service jeweler (offering repairs and other services)
76%
Jewelry retailer
10%
Custom design store
7%
Online jeweler
1%
By-appointment jeweler
4%
Pawn shop
0.5%

80. Check the paid services offered by your store

Custom design
96%
Jewelry repairs
96%
Watch and clock repairs
63%
Engraving
71%
Consignment
35%
Over-the-counter buying
70%

81. What were your total sales in 2020? (If you have more than one store, please tell us the average per store.

The Big Survey 2021: The Basics

82. Which category is your business’s “strong point” (the category that helps you stand out from the competition).

Bridal
34%
Silver
2%
Estate
5%
Watches
2%
Colored gemstones
5%
Branded jewelry
2%
Fashion jewelry
5%
General jewelry services
14%
Gold buying/Pawn services
0.5%
Custom design
27%
Other
2%

83. What is the total square footage of your (main) store?

Less than 500 sq feet
5%
500-999 sq feet
17%
1,000-1,499 sq feet
23%
1,500-1,999 sq feet
18%
2,000-2,999 sq feet
18%
3,000-3,999 sq feet
8%
4,000-5,000 sq feet
5%
More than 5,000 sq feet
5%

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.”