Connect with us

Editor's Note

We’re All Quitters Someday

A successful ending to your retail career requires planning.

Published

on

ALL GOOD THINGS must end. Yet every ending is a new beginning. I could keep going with the clichés, but you get the point: everyone eventually has to move on from jewelry retail. When the time comes, you want to go out on your own terms.

Podcast: Wisconsin Salesperson Uses Life Savings to Live Her Dream of Jewelry Store Ownership
JimmyCast

Podcast: Wisconsin Salesperson Uses Life Savings to Live Her Dream of Jewelry Store Ownership

Podcast: Making the World a Better Place in Steps Both Big and Small
Over the Counter

Podcast: Making the World a Better Place in Steps Both Big and Small

Podcast: From Tanzanite to Greenland Ruby, Hayley Henning Loves Selling Color
The Barb Wire

Podcast: From Tanzanite to Greenland Ruby, Hayley Henning Loves Selling Color

With that in mind, our lead story takes you inside the transitions of six different jewelry retailers and explains why business expert Seth Godin says that one of the secrets of successful organizations is “strategic quitting.” Everyone reading this issue will leave the industry one day; now is the time to begin planning for it.

That said, many of you aren’t ready to retire, you’ve just lost your inspiration. You’re down and out, dejected, or maybe just bored. We’ve got just the thing for you to help you get your mojo back: our second lead story, “Mojo to Go.” It includes 12 different action items guaranteed to bring the excitement back to your business life.

Advertisement

If that weren’t enough, we’ve also got what group managing editor Chris Burslem calls “lots of fun and interesting side bits” throughout, including why you shouldn’t discount shop labor, how to sell more safely, what your inventory management strategy can learn from dieting, and of course much, much more.

So remember, it’s not the quitting that matters — it’s how you plan to quit!

Trace Shelton

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

Five Smart Tips You’ll Find in This Issue

  • Have your kids or your employees’ kids make Valentine’s Day cards and use them as props in your displays. (Manager’s To-Do, page 26)
  • Hold office hours for an hour or two a week for staff to talk to you. (Mojo To Go, page 44)
  • When role-playing sales with your staff, always take the role of salesperson first. (Ask INSTORE, page 58)
  • Renegotiate everything from your lease to Internet, cable, phone and even garbage pickup to save money. (Evan Deutsch, page 52)
  • Use an open-to-buy calculation to balance what you’re buying with what you’re selling. (David Brown, page 53)

Trace Shelton is the editor-in-chief of INSTORE magazine. He can be reached at trace@smartworkmedia.com.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

When It’s Time for Something New, Call Wilkerson

Fifty-four years is a long time to stay in one place. So, when Cindy Skatell-Dacus, owner of Skatell’s Custom Jewelers in Greenville, SC decided to move on to life’s next adventure, she called Wilkerson. “I’d seen their ads in the trade magazines for years,’ she says, before hiring them to run her store’s GOB sale. It was such a great experience, Skatell-Dacus says it didn’t even seem like a sale was taking place. Does she have some advice for others thinking of a liquidation or GOB sale? Three words, she says: “Wilkerson. Wilkerson. Wilkerson.”

Promoted Headlines

Editor's Note

Today’s Bridal Client Requires A New Approach

Selection isn’t enough anymore.

Published

on

IF YOU’RE SELLING bridal the same old way you’ve done it in past decades, you may find fewer people saying “I do” to your engagement rings.

Twenty years ago, it was enough just to have a strong selection of solitaires. Heck, it’s been less than five years since custom design began to dominate the bridal conversation and lab-grown diamonds started making waves.

Those products are responses to three traits common to nearly every engagement ring shopper these days: they want uniqueness, an environmentally and ethically friendly product, and quality at a reasonable price. If you’re not addressing shoppers’ desire for a ring distinct from their peers — and one that satisfies their social conscience — you need to revisit your business model, quickly.

Today’s engagement ring shopper also responds well to an unexpected positive experience. Many jewelers now provide one or more “extras” to bridal shoppers, which we’ve collated in our lead story, “41 Surefire Ways to Make Your Bridal Business Stand Out.” These could be anything from a proposal package to a photo shoot, booth seating or concierge services.

And that’s just the beginning. Throughout this issue, you can read about how to make the most of the lab-grown diamond phenomenon, how to streamline your bridal inventory, how to get clients to return for jewelry service, and much more. So if you’re ready to turn something old into something new, turn the page and get cracking!

Trace Shelton

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

Five Smart Tips You’ll Find in This Issue

1. Write a blog post that describes the best places around your community to propose. (Tip Sheet, p. 56)
2. Create infographics about jewelry and diamonds to share on social media. (Manager’s To-Do, p. 32)
3. Give a silicon band free to engagement ring shoppers while talking about jewelry care. (Do You Or Don’t You, p. 73)
4. Treat engagement ring clients to a ride to their wedding in a vintage vehicle. (The Big Story, p. 40)
5. Track which live samples result in special orders. (Sherry Smith, p. 61)

Advertisement
Continue Reading

Editor's Note

What Makes a Store Cool?

It’s the special sauce of individuality.

Published

on

WHEN I SAW a photo of an inverted canoe chandelier hanging from Erik Runyan Jewelers’ 18-foot ceilings in Vancouver, WA, I wanted to meet the people who put it there.

I got my chance in June when our panel of expert judges chose ERJ as the No. 1 America’s Coolest Store in the Big Cool division.

What draws me to ERJ is not just the canoe. The store is the perfect expression of everything Erik and Leslie Runyan love. They raised their three daughters on boats and dirt bikes. Their spirit of adventure, the sea and wide-open spaces are reflected in the store design and ambience.

Gem dealers Simon and Laurie Watt have curated EAT Gallery, the No. 1 store in the Small Cool division, to display beloved treasures, from local art to hand-carved gem sculptures. They’ve managed to connect Maysville, the Kentucky town they’ve chosen to call home, to the wide world of gems they inhabit in their travels. The place is so personal that if you tell manager Katherine Cotterill just what you want, she will string natural stones or pearls right there at her desk to match your vision — or your outfit.

Each of this year’s Cool Stores scored high in the category of individuality. Without that special sauce, even the most opulent store can feel cold.

On the other hand, when you’re able to be yourself, shoppers are delighted by the sense of ease and comfort that results from such authenticity.  How cool is that?

Eileen McClelland
eileen@smartworkmedia.com

Five Smart Tips You’ll Find in This Issue

  • Create a proprietary wine label to share with clients in your store and add to your overall brand. (The Big Story, p. 46)
  • Provide “loaner” rings to customers to use to pop the question so that the fiancée can be involved in the selection/design process later. (The Big Story, p. 72)
  • Produce a video blog series that shows viewers how jewelry looks when worn and introduces new collections or pieces. (The Big Story, p. 36)
  • Offer concierge services for your clients, including making dinner reservations, finding local tours or calling up Google Maps for directions. (The Big Story, p. 66)
  • Sponsor a Champagne diamond giveaway, in which all participants receive a cubic zirconia and one trades in for a real diamond. (The Big Story, p. 78)
Continue Reading

Editor's Note

Why It’s Good To Remember Your Best Day Ever

Reliving your favorite memory in business could inspire you to even greater heights.

Published

on

IT’S HUMAN NATURE to remember one’s failures most vividly. In my senior year of high school, we finished our football season at 9-2. A record to be proud of, but it’s those two losses that stick with me most.

Maybe you’re the same way, and you’ve had failures that you can’t stop wondering “what if” about. But we’ve already done an issue on failure (go back and read our April issue if you missed it!). Now, it’s time to celebrate the good times! Remember those moments when you were on top of the world? The ones you would love to relive again? Those are the recollections that inspire us to make the next unbelievable memory.

As we roll into the second half of the year, it seems appropriate to recall those “best days ever” to motivate you to even greater heights. In our lead story, we’ve collected 33 reminiscences from your fellow jewelry store owners to remember their favorite days, from that occasion when one made his first sale, to the moment one met his future spouse, to that time one’s father gave her the advice that sticks with her to this day. (We had so many beautiful stories that we couldn’t fit them all in print, so visit instoremag.com to read the rest!)

So go ahead: invite the memory of your favorite day back into your mind right now. Smile. Read about the triumphs of your peers. Then get back into your business and set the stage for your next best. day. ever!

Trace Shelton

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

Five Smart Tips You’ll Find in This Issue

Continue Reading

Most Popular