Editor's Note

The Big Survey Is Only “Big” Because Readers Participate

If you’re not part of the Brain Squad, now’s a great day to join.

Published

1 year ago

November 1, 2022

Trace Shelton Instore November 2022 Issue

NATIONAL GALLUP POLLS survey about 1,000 adults and boast an accuracy of plus-or-minus 4 percent. Given that the U.S. population is 335 million-plus, how accurate, then, is INSTORE’s Big Survey, considering we had over 750 independent retail store owners and managers participate out of a total population of about 20,000 stores? On the nose, I’d say.

As a result, the information we gather each year is priceless for understanding both the current state and the future trajectory of the independent jewelry retailer. And it’s only valuable because you participate.

We realize it’s not easy. The survey weighed in this year at a hefty 77 questions, so it took about 30-45 minutes to complete. Some of you take on this task every single year, and we can’t tell you how much we appreciate your time and feedback. If you’ve never taken the Big Survey, I hope you’ll budget some time to do it next year!

The more who take it, the more authoritative the results will be.

Similarly, we email Brain Squad surveys each month to a group of dedicated retailers, but the polls are much shorter — about 10 questions or so.

They’re how we track national sales growth or decline and what’s selling, and they’re our biggest resource for story ideas and subjects. If you’re not a Brain Squad member, please join today at instoremag.com/brainsquad. Become one of INSTORE’s true heroes — and get a free T-shirt for your trouble!

Now Introducing The INSTORE Show, Coming to the Chicago Area in 2023!

Trace Shelton

Editor-in-Chief, INSTORE
trace@smartworkmedia.com

Five Smart Tips You’ll Find in This Issue

During the holidays, do a 10- or 15-minute staff huddle each morning to go over the previous day’s results, today’s goals, and what’s coming up. (Manager’s To-Do, p. 24)
Set individual sales goals by product category, units sold and average retail price. (David Brown, p. 66)
Use SMS texting to follow up on abandoned carts, solicit feedback on recent orders or ask for reviews. (Andrea Hill, p. 68)
Encourage buyers to purchase matching pieces now for future occasions. (Peter Hannes, p. 70)
Use a modified “buy one, get one free” offer to liquidate aged inventory during the holidays. (David Geller, p. 72)

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.”