McGee & Company Fine Jewelers

Bob McGee, the long-time and well-respected owner of McGee Jewelers in Greenwood, IN, turned 70 and decided it was time to slow down.  With his son and daughter-in-law in the business for over a decade, it seemed to be the right move to conduct a Retirement Sale.  After researching other companies, the McGees chose The Gordon Company and were very pleased with the results of their sale.

Liquidity in Uncertain Times

Our industry has enjoyed two full years of increased prosperity, an amazing outcome resulting from the awkward and even devastating consequences of the COVID pandemic. 2021 was arguably the best year for retail jewelers in decades.

Our industry has enjoyed two full years of increased prosperity, an amazing outcome resulting from the awkward and even devastating consequences of the COVID pandemic. 2021 was arguably the best year for retail jewelers in decades.

Unfortunately, most have experienced a marked slowdown in sales and profitability over the last few months. The Fed is trying to tighten money with increased interest rates to help curb inflation. At the same time, the Fed is walking a fine line between slowing the economy and trying to keep the country from falling into recession.

This leaves most of us scratching our heads trying to figure out what this will mean to retail jewelry sales in the second half of 2022, and especially during the holiday season. Obviously, none of us has a crystal ball to know the near or longer-term outlook.

Liquidity is the key to success in these uncertain times. Economists and businesspeople have always warned us to keep inventories low and keep cash on hand in such times. For many jewelers, a good percentage of sales are now coming from custom made pieces and not from the showcases. So how much showcase merchandise do you really need? Lower inventory levels add to cash flow and liquidity. This is the best way to weather the storm that may lie ahead. A major sale event in uncertain times can assure you of a strong finish to the year, while adjusting inventory levels to what they should be in cautionary times. Contact us for more information about how we can help you reduce unwanted merchandise, generate cash, and strongly position your store to deal with a slowdown in the economy.

Sincerely,

Jeff Gordon, CEO

Anderson Brothers Jewelers

Established in 1923, Anderson Brothers Jewelers in Lubbock was one of West Texas’ oldest and finest stores. But after nearly 100 years in existence, the owners made the difficult decision that it was finally time to retire. Knowing the quality reputation of The Gordon Company, they called on the firm to run their extensive sale events.

None Of Us Is As Smart As All Of Us

One of my favorite sayings is the title of this message. It’s a philosophy I’ve lived my life by because I’ve personally experienced the influence and intelligence of great teams.

One of my favorite sayings is the title of this message. It’s a philosophy I’ve lived my life by because I’ve personally experienced the influence and intelligence of great teams. 

The value of complementary skills is powerful and the benefit of hearing from everyone is a huge plus in decision-making. That’s why we employ the skills of a diverse and inclusive team of professionals. They practice the art of listening and welcome each other’s ideas with enthusiasm. 

The true benefit of this, of course, is to share our collection of ideas with our clients. They seek our confidential consultation and value the collective experience of our team.  This is what makes The Gordon Company unique. We approach every client with a fresh and unbiased perspective, and that’s why you should seek our advice when considering a major sale event.

Whether your goal is inventory reduction, cash raising, paying off debt, moving your store, retirement, or even going out of business, we are there for you. You will benefit from our collective wisdom and we will be happy to help you. Contact us today for some free advice because none of us is as smart as all of us.

Sincerely,

Jeff Gordon, CEO

Las Vegas Show Week: What Did We Learn?

The best way to describe the shows in Las Vegas this past week is with the word VIBRANT. People were back: excited to see each other…

The best way to describe the shows in Las Vegas this past week is with the word VIBRANT. People were back: excited to see each other, anxious to see what is new and different, and ready to stock with merchandise for the second half of the year. 

Arguably, 2021 was the best year in most jewelers’ history and 2022 started in a similar fashion. We have all been through the worst of times with COVID, a war in eastern Europe, and a very jittery stock market. But ironically, it was the best of times for jewelers. So what have we learned?

We all know that what goes up eventually comes down. We are certainly seeing the signs of this, as most jewelers have felt a letdown since Mother’s Day. Inflation, out-of-control oil prices, and the threat of increasing interest rate hikes are slowing the economy down. And we all know that when people are wary, they spend less on discretionary items, like jewelry.

Indeed, most jewelers I spoke to at the shows are concerned about the second half of this year, and particularly the fourth quarter. This was the central theme I heard. Consequently, I told many that the best thing they can do to ensure a strong close to the year is to run either a Fall or Winter sale event. It will drive traffic, create new customers, reduce aged merchandise, increase cash flow, and secure your year. If this sounds good to you – and it should – give us a call and we’ll provide a free, no-obligation consultation for you. We look forward to hearing from you.

Sincerely,

Jeff Gordon, CEO