Today’s Jewelry Consumer: What The Latest Research Tells Us

Panelists discuss the recent Plumb Club survey of more than 1,000 jewelry buyers across America.

Published

3 years ago

August 16, 2021

SmartWork Media Content Studio

In a comprehensive consumer study, The Plumb Club asked more than 1,000 online respondents in the U.S. where they shop for jewelry, their design/category preferences, openness to lab-grown diamonds, effects of the pandemic on their jewelry buying, their use of technology, and more. In this webinar, the panel discusses the fascinating conclusions of the research, which impact every U.S. retailer. Panelists include Lawrence Hess, executive director of The Plumb Club; Steven Lerche, executive vice-president of Goldstar Jewellery and member of The Plumb Club’s Next Generation Committee; and Jordan Peck, vice-president of Color Merchants/Brevani and co-chair of The Plumb Club’s Next Generation Committee. Moderated by INSTORE editor-in-chief, Trace Shelton.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”