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Buying and Selling

Put out a stall and sell some merchandise! (If only it were that easy.) Here, we look at the many services offered by jewelers, the channels they use to sell their goods and their dealings with vendors.

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22. In what order do you tell customers to consider a diamond, from most important to least?

The Big Survey 2023: Buying and Selling

23. In what order do you find customers show the most interest?

The Big Survey 2023: Buying and Selling

NOTE for #22 and #23: Just over half, or 52%, the jewelers ranked Cut as most important. But, for customers, the choice was even clearer, with an estimated 73% prioritizing Carat.

24. Check the paid services offered by your store.

The Big Survey 2023: Buying and Selling

25. Please check the following environmental and sustainability issues customers regularly ask you about:

Ethical sourcing
24%
Diamond origins/Conflict diamonds
28%
Colored stone origins
10%
Fair trade metals
4%
Recycled gold
9%
Environmental impact of diamond mining
13%
Something related to diversity
1%
I am rarely asked about any of these
65%
More than$5 million
11%

26. Tell us about an interaction with a customer that summed up the last three years for you?

  • “A VIP client telling us how wonderful we are but they have all the jewelry they want and their children and grandchildren do not care for jewelry.”
  • “Hi. I want to get engaged and I’d like to buy a lab-created diamond. Tell me more about them.”
  • “Had a customer insist that we changed the clasp on her bracelet and shortened it an inch. All we did was tighten the clasp. I feel like since the pandemic ended there has been an increase in customers who are always on the verge of a fight.”
  • “A first-time client walked in, tried on a 3.38-carat fancy yellow diamond ring, decided to purchase it within 10 minutes with cash, we sized it on the spot for her, and she returned the same afternoon with cupcakes for all staff members.”
  • “‘Do you buy … ?’ Fill in the blank with almost anything they consider of value. Diamonds, gold, pearls, gems, rhinestones … “
  • “Thank God you’re still here.”
  • “A millennial made an appointment, came on time — and had a folder 2 inches thick of Internet research.”
  • “In 2020 when we were shut down I had clients calling the store to prepay for custom orders because they were worried about us and wanted to make sure we were OK financially. We have the best clients and the past three years have proven it.”
  • “During COVID, we did an online auction, ‘Steals and Deals.’ We gained customers from around the country and England! They are now still customers who have me make custom jewelry.”
  • “LGBTQ+ customers feeling ‘safe’ and respected at our store. Had another sweet couple come in yesterday saying that several other stores wouldn’t help them.”
  • “I got this online but I only trust you to size it.”
  • “Yeah, we had to cancel our 25th anniversary trip to Europe. So bummed. Say, how much is that diamond bracelet?”
  • “I need a gift for my contractor’s wife because he’s working for me on her birthday.”
  • “She bought a $3,000 solitaire diamond fashion ring blindly online. Came in complaining it looks thin-shanked. Was worn out. Showed her the identical new ring in my case I sell every day for $1,200 less than she paid. She never thought to check her local jeweler to see if it existed where she could touch it.”

27. If you could make a wish for one thing from vendors, what would it be?

Lower opening order requirements
9%
Better sell-through data
13%
More marketing support
9%
More training in-store
12%
More in-person visits/support
13%
Fewer telephone calls
9%
More generous stock balancing
35%
Not selling online
24%
Other
6%

NOTE: Several jewelers said “nothing” — their vendors were great. Among other wishes were respecting designated market areas, more accuracy with orders, more generous stock balancing, and “No more 300-pound, 1,000-page catalogs for stu we never use!

28. Roughly what percentage of your vendors offers stock balancing?

0%
9%
25%
23%
33%
13%
50%
20%
67%
4%
75%
9%
More Than 75%
15%
All
7%

29. On what online platforms have you actually completed a sale of jewelry?

The Big Survey 2023: Buying and Selling
*We did not present this option in 2020 *

“Others” included 1st Dibs, Amazon, Podium and Ruby Lane.

30. The average price of the jewelry you sell online is ..

The Big Survey 2023: Buying and Selling
NOTE: Results exclude the one-third of jewelers who don’t provide an online sales channel.

31. How would you describe the contribution of e-commerce — via your website, Facebook, Instagram, eBay, etc — to total sales?

The Big Survey 2023: Buying and Selling

32. Check the features offered by your website:

The Big Survey 2023: Buying and Selling

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

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