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Why Bank Closings Could Be Good News for Your Store

Think of it as a real-estate opportunity.

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AMERICAN BANKS have closed 9,000 branches in the last decade as digital banking and other trends have resulted in fewer people visiting their physical outlets. While that’s bad news in some communities where consumers now have to travel great distances to find a branch, it’s good news for jewelers, especially those looking for a new location. Few other abandoned commercial buildings are such a good fit for jewelers, given bank branches’ often central locations on Main Street, security-driven designs, features such as walk-in vaults and often cool, retro designs. Pondered a move lately? Keep an eye on your local bank.

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Why This Fourth-Generation Jeweler Chose Wilkerson for a Very Special Sale

Parian & Sons of Franklin Lakes, NJ was founded in the early part of the 20th century. But even stores that have successfully made it through the Great Depression, a World War and the Woodstock Generation must come to an end. With no family wanting to continue the tradition, the time was right for Glenn Parian and his wife, Maria, to retire. And what better way to do so than by hiring Wilkerson to help with the store’s liquidation sale. As Glenn puts it, with his credit card machine humming to the tune of up to 200 transactions a day, he couldn’t have done it without Wilkerson. “This is what they do,” he says. “This is what they do for everybody.”

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