Should Your Retail Strategy Change?

Jeff Gordon
Oct 17, 2024

Retailers big and small are analyzing their strategy.  Realigning resources, especially location, marketing, branding and merchandising are all at play.  And so is streamlining operations.  You need to spend more time on getting out of the weeds of your business to work on mid to long-term strategy.

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The Art and Science of the Sale

Jeff Gordon
Oct 10, 2024

There is an art to running a successful sale. Actually, it’s both art and science. It’s all about having the right message delivered in the most effective way and at the right pace.

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What Does Your Jewelry Customer Want?

Jeff Gordon
Sep 25, 2024

Consumer shopping habits are not what they used to be.  The evolution of how clients shop and how and why they buy require agility and adaptation in your role as an owner.

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These Are Unusual Times!

Jeff Gordon
Sep 11, 2024

Retailers are complaining that traffic is down with sales barely keeping up with last year’s numbers.  Traditional marketing is not as effective as it has been in the past. Retail closures in other sectors are on the rise.

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Stop Burning Cash!

Jeff Gordon
Sep 4, 2024

a bank lends you cash and charges interest, The Gordon Company creates cash from your existing assets and helps you earn interest on YOUR money. We are cash consultants ready to help you eliminate aged and under-performing merchandise that is weighing you down.

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The Pain of Swelling Inventories

Jeff Gordon
Aug 22, 2024

When your salespeople know jewelry items are old and haven’t sold, they can’t get enthusiastic about your products. Nor can your customers when they see the same products in your showcases for years. It becomes a viscous cycle that requires immediate attention. Many retailers are caught in this trap and need a way out.

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The Importance of Your Mailing List

Jeff Gordon
Jul 30, 2024

One of the greatest assets in your business is your mailing list.  Often when a business is sold or ownership is transferred to a family member, the goodwill derived from the store’s name, location, and mailing list is extremely valuable.

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Missed Opportunities

Jeff Gordon
Jul 17, 2024

We read stories of jewelers hosting one or two-day sale events. These can produce an extra month’s worth of business, but would you rather have an extra month or an extra year’s worth of business?

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Las Vegas Jewelry Shows: A Recap

Jeff Gordon
Jun 20, 2024

Most jewelers feel the tide has turned on natural vs. lab-grown diamonds.  Prices of the natural have more or less stabilized, whereas the value of manmade diamonds is still dropping.  Their move away from lab-grown diamonds is lauded by many – including their partner – the country of Botswana.

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When Do You When It’s Time?

Jeff Gordon
Jun 7, 2024

.  An intelligent exit strategy must be developed to obtain the reward you deserve for a lifetime of work and investment.  And in order to do so, you need to consider various options and what will give you the best monetary return.

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What is your plan for 2024!

Jeff Gordon
May 16, 2024

When the head of Rolex says that 2024 will be a challenge for the Swiss watch industry, people take notice. The big question is how the year will be for the rest of the gem and jewelry industry.

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What can WE DO for you?

Jeff Gordon
Apr 30, 2024

For our clients, we do it ALL.

Retirement Sales
Moving Sales
Going Out of Business Sales
Relocation Sales
Inventory Reduction Sales
Renovation Sales
Cash Raising Sales
Store Closing Sales

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Are Retailers Dealing with a Tangled Mess?

Jeff Gordon
Apr 12, 2024

more stores are closing, and this trend will likely continue to significantly outpace new business start-ups. 2024 is a good year to take stock of your overhead, tighten buying, and become more efficient in overall operations.

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Client Spotlight: Bernie Robbins

Jeff Gordon
Mar 15, 2024

Sales over the previous year were doubled in all three locations. Also, 850 new customers purchased products during the event and were added to their mailing list.

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Is Retirement Close?

Jeff Gordon
Feb 29, 2024

Baby Boomers and Gen Xers dominate the ownership of retail stores. If you are in this age bracket, you are at or nearing retirement and have some very important decisions to make.

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Centurion Show Recap

Jeff Gordon
Feb 9, 2024

We had some interesting observations at the recent upscale Centurion Jewelry Show in Phoenix. There were a lot of young people at the show. We view the current generational shift as a long-term positive for the trade. There is an obvious business transition taking place which calls for intelligent exit strategy options for owners.

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The Value of Good Data

Jeff Gordon
Jan 29, 2024

Managing aged inventory becomes one of the most important aspects of running a retail jewelry business. Maximizing the value of your precious capital by eliminating aged inventory is one of the best business decisions you could make.

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We Build Brand Awareness

Jeff Gordon
Nov 29, 2023

“I thought everyone in the area knew us. What I learned during my sale will help me for years to come because of the awareness it created in my community.”

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Dislocation, Consolidation, and a General Slowdown

Jeff Gordon
Oct 19, 2023

A similar slowdown has been felt by many retail jewelers as rapid growth in travel has taken discretionary dollars away from jewelry purchases. All is not lost for retailers, but the softness in the economy and uncertainty in global affairs certainly takes a toll on consumer sentiment and spending.

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Cash is King

Jeff Gordon
Sep 29, 2023

The key question is this: Do you want to be drowning in inventory or would you rather be swimming in cash when Cash Is King?

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What Does the Future Hold?

Jeff Gordon
Sep 15, 2023

Unless you’ve been living on a remote island somewhere, you are aware of recent industry and general economic layoffs in the workforce. It was simply a matter of time that the overhang of economic stimulus would subside.

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Why Run a Major Sale Event?

Jeff Gordon
Aug 30, 2023

We are often asked about the benefits of running a sale event with our company. We know what it has done for hundreds of other jewelers, but you may not know what it can do for you. Here are nine key results from engaging in a sale with us…

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The Hiring Problem

Jeff Gordon
Aug 16, 2023

Hiring and retaining quality staff is top of mind for all jewelers today. The pandemic caused many people to evaluate their priorities and reflect on what they want out of life and a career.

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Retail Considerations in 2023

Jeff Gordon
Jul 19, 2023

According to a recent retail spending report, consumers are not particularly assertive when it comes to discretionary retail purchasing in 2023. While spending in general remains consistent with last year’s numbers, where the money is going varies from what our industry has experienced since the pandemic.

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Be Aware!

Jeff Gordon
Jun 21, 2023

As noted recently by the Jewelry Security Alliance (JSA), crime was on the rise last year and seems to be a new general trend for our industry. This increase in crime is in contrast to what we have witnessed over the past several decades, and it’s really hard to know why.

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Running a Sale is Much More than Discounting

Jeff Gordon
May 18, 2023

Jewelers needlessly shy away from sale events because they fear the impact that a sale can have on their business image and their customers’ expectations. But a well-planned and well-orchestrated sale event can be a terrific boom to your business because it’s so much more than simply discounting products.

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Family Businesses

Jeff Gordon
May 10, 2023

Virtually all independent fine jewelers are part of a family business. They are the heart and soul of our industry and I certainly hope it will stay that way.

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Is Retirement Nearing?

Jeff Gordon
Apr 19, 2023

Most of us love the industry, our customers, and our staff, but at some point, we all realize that something’s got to give. Decisions need to be made. Options need to be considered. Exit strategies must be formulated.

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Change Is Coming

Jeff Gordon
Apr 5, 2023

…This is a time to remain agile and to ensure that you have very little debt and good cash flow, retaining what you have worked all your life for…

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Something Magical

Jeff Gordon
Mar 8, 2023

Something magical happens when you engage in a major sale event to reduce inventory levels to focus on custom, move your store from one location to another, close a store due to mediocre performance, plan for a transition to retirement, become a private jeweler, or even go out of business.

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Questions about 2023?

Jeff Gordon
Feb 22, 2023

Most jewelers we talk to have experienced an unprecedented level of business since mid-2020…at the same time, many we are speaking to are considering if now is the right time to exit or transition the business. 

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Can We Help You Make a Decision in 2023?

Jeff Gordon
Jan 18, 2023

As we enter a new year, thoughts about what’s next creep into all our minds. One of the biggest challenges for any jeweler nearing retirement age is what to do with your store. The business has been good to you for decades, but it is beginning to be too much to handle, and you need a change.

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Inflation Concerns

Jeff Gordon
Nov 17, 2022

Policymakers on both sides of the aisle agreed to prop up the economy with stimulus money when the global pandemic hit in full force in March 2020…

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Customize Your Exit Strategy

Jeff Gordon
Nov 10, 2022

…If you are in a quandary of what to do next, you need help devising a plan that works for you. Don’t go it alone…

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If Not Now…When?

Jeff Gordon
Nov 10, 2022

We’ve been insisting that times have changed, and business has slowed. We see it in home sales, car sales, and now jewelry sales.

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You Only Have 30 Days

Jeff Gordon
Sep 29, 2022

The recent .75 interest rate hike sounds yet another alarm that inflation is out of control and that business is slowing. Curbing inflation is a priority, but jewelry retailers are feeling the crunch.

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It Is Time to Make a Decision

Jeff Gordon
Sep 23, 2022

It’s Time to Make a Decision!

You have probably felt a slowdown in the economy and your business like many other jewelers. A recession may be looming and only time will tell. For sure, there is plenty of uncertainty out there.

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Liquidity vs. Liquidation

Jeff Gordon
Aug 18, 2022

Many jewelers think negatively of sales. They believe it hurts their image, tarnishes customer relationships, and casts a dark shadow over their business…

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Liquidity in Uncertain Times

Jeff Gordon
Jul 21, 2022

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.

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None Of Us Is As Smart As All Of Us

Jeff Gordon
Jul 6, 2022

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.

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Uncertainty vs. Assurance

Jeff Gordon
Apr 7, 2022

Let’s be honest. The COVID pandemic ultimately and ironically had a positive economic impact on the jewelry industry. 2021 was the best year in most jewelers’ history, but 2022 has begun with significant uncertainty.

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Anytime Is The Right Time To Run A Sale

Jeff Gordon
Mar 24, 2022

Jewelers sometimes worry about the right time to run a sale event. One of our clients was in the same predicament last year, but as you will see in the results below, the family was happy they started a sale when they did. A highly successful sale can be run at any time of the year if done right.

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Our Sale Events in 2021 Never Caught COVID!

Jeff Gordon
Mar 10, 2022

Despite our decades of experience running major sale events for jewelers, even we were surprised at the results of our sales last year.  There were three big takeaways that I must share with you:

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You Owe It To Yourself

Jeff Gordon
Feb 23, 2022

I know how hard you have worked as a retail jeweler to reach your current position in life. The interminable hours, the staffing problems, the cash flow crises, and the security issues all take a toll.

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Ride This Wave

Jeff Gordon
Feb 10, 2022

Despite the continuation of the pandemic, 2021 was truly special for the jewelry industry.  Chances are, this will continue in the first several months of 2022, but we don’t know how long it will last.

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The Multiplier Effect

Jeff Gordon
Jan 27, 2022

You may be familiar with the economic term “the multiplier effect.” It’s a phenomenon whereby a given change in a particular input – government spending, for example – causes a change in output, such as increased gross domestic product.

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Rocket Your Christmas Selling Season into 2022!

Jeff Gordon
Jan 12, 2022

The industry has just completed one of the best jewelry Christmas selling seasons ever, but no one knows how long this once in a lifetime quest for jewelry will last.  So why not keep that theme going with a special sale event early this year?

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For the New Year and Beyond, You Aren’t Alone

Jeff Gordon
Dec 30, 2021

The Gordon Company president Ira Bergman recently spoke to a very anxious jeweler who was losing staff and felt it was time to sell her business or have a retirement sale. What to do in a situation like this is nerve-racking for any business owner.

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Happy Thanksgiving from The Gordon Company!

Jeff Gordon
Nov 25, 2021

A fun thing to do at Thanksgiving is to give a little quiz around the dinner table to see who knows the most about the very first Thanksgiving in America. Just for fun, here are 10 questions you might want to ask your guests, with the answers bolded:

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Legislative Update: Tax Implications Of The Infrastructure And Jobs Act

Jeff Gordon
Nov 19, 2021

Last week we cautioned jewelers about possible new tax laws taking effect next year that can affect their business. Two in particular warrant immediate attention, before the end of 2021: the Employer Retention Credit (ERC) that has expired, and potential changes in the estate tax exemption.

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EXCITING OPPORTUNITY FOR RETAIL JEWELERS!

Jeff Gordon
Nov 5, 2021

This is an incomparable time we live in—one with exciting and unique opportunities. Right now, with the boom in the jewelry industry, there are countless prospects for you and your store. You may have not thought about it this way previously, but let us explain.

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How To Make This Your Best Holiday Season Ever

Jeff Gordon
Oct 20, 2021

One fine jeweler said of his sale earlier this year that it was like “Christmas on steroids.” His business was already very good, but he built onto to it with an unbelievable 33-day sale that generated six-times the revenue he would have done in that same time period.

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Go Out on a High!

Jeff Gordon
Sep 22, 2021

People are selling their homes while prices are very high. They know the current wave won’t last forever.

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Do You Want More Customers?

Jeff Gordon
Sep 10, 2021

Some fine jewelers have managed to pick up clients when others have closed their doors. But our experience at The Gordon Company is that the pace of new customer acquisition lags far behind what it needs to be, especially in light of the number of store closings.

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Why You Need a Professional Sales Advisor

Jeff Gordon
Aug 17, 2021

You’ve devoted a working lifetime to your jewelry business.  You’re an expert in leading and managing a fine jewelry store.  You’ve mastered the elements to compete in your marketplace.  While all of this is true, running a major sale event is something you have likely never done.

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You Sell Jewelry…. We Market Your Brand

Jeff Gordon
Jul 28, 2021

Recently we were meeting with a client after his highly successful sale event.  We always debrief with clients following a sale because, despite running hundreds of such events over the years, we continue to refine our planning and perspective for future clients.  

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What to Do in the Slow Months

Jeff Gordon
Jul 15, 2021

The U.S. is opening up from the pandemic, but the months of July through October are historically slow for the average retail jeweler.

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Do You Have the Same Old Thinking?

Jeff Gordon
Jun 23, 2021

I know it’s hard. It’s hard to wrap our head around new thinking. We’re used to doing what we’ve always done which always gives us what we’ve always gotten.

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What Do Loosening COVID Restrictions Mean to Jewelers?

Jeff Gordon
Jun 10, 2021

As our country begins to “open up” state by state, we will see many people going back to the office, back to school, and out in the community more and more. People have mostly been cooped up for over a year, have been dressing casually, and want to get out.

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BREAKING NEWS – REAL-TIME EXCITING SALES RESULTS!

Jeff Gordon
May 20, 2021

Jewelers sometimes worry about when is the right time to run a sale. One of our current clients was in the same predicament but as you can see from the results below, they’re happy that they started a sale now. A highly successful sale can be run at any time of the year if done right.

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How to Compete with Travel

Jeff Gordon
May 13, 2021

After being cooped up for over a year with the pandemic, most people have the bug to travel again. Southwest Airlines asks, “Want to get away?” Yes, people do.

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Why You Shouldn’t Go Solo with a Sale

Jeff Gordon
Apr 14, 2021

Chances are, you are a jeweler who prides himself or herself in not running sales. That’s great. We like this because when you try to run sales repeatedly on your own, the public eventually picks up on it and doesn’t believe you. We love it when you have seldom, if ever, run a sale, because that’s when we can make you the most money.

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In a New Environment, Do Old Ways Still Work?

Jeff Gordon
Apr 6, 2021

In a nutshell, yes; tried and true methods still work. But an ability to adapt to the times we live in and to create innovative new processes with the technology now available to us is paramount.

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Your Reputation Means Everything

Jeff Gordon
Mar 17, 2021

2021 is a good year to run a major sale event because people are slowly getting out and they will soon be traveling again. In other words, the benefit our industry has received from people staying home will soon be over.

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Learning and Growing

Jeff Gordon
Mar 2, 2021

A new year brings new thinking to what was, and what will be, in the months ahead. This is especially true after going through such challenging times. Difficult as they were – and will likely continue in 2021 – we all learned how to do more with less and to employ new techniques and technology to our trade.

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Are You Staying Competitive?

Jeff Gordon
Feb 16, 2021

According to the Jewelers Board of Trade, there were far fewer store closings in 2020 than we might have expected. Trying to get a handle on what that means may be more difficult.

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Is It Time for a Spring Sale Event?

Jeff Gordon
Jan 26, 2021

Jewelers often ask us why they should have a major sale. There are many reasons, but in short, it’s simply part of doing good business. It’s a way to reward your customers with some great deals while you also benefit from removing products that once looked good to you, but haven’t yet sold.

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What We Stand For

Jeff Gordon
Jan 14, 2021

The year 2020 has caused me to reflect on a number of issues that are meaningful in life and in business. Family, friends, and clients come closest to mind as we have all endured the challenges of a global pandemic.

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The Year Has Tested Us

Jeff Gordon
Dec 29, 2020

Our personal and professional lives have been tested in 2020. Something good has come from it: the patience and resilience of jewelers across America.

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It’s Not Too Late to Run a Sale!

Jeff Gordon
Nov 12, 2020

Yankee great Yogi Berra made famous the saying, “It ain’t over till it’s over.” That’s because it isn’t. And neither is the year 2020. It’s still not too late to run a major sale event and there is no better time to do this than during the holiday season.

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Some Things You Only Do Once

Jeff Gordon
Nov 5, 2020

Think about it. There are things in life that you’re only going to do once. Have your tonsils removed. Hire a wedding planner. Buy your first home. Borrow money to start a small business. Tour the Great Pyramids. Scale Mount Everest.

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Signage Makes a Difference

Jeff Gordon
Sep 24, 2020

Since we work with many of the finest retailers in the country, they are
always very concerned about the look and feel of a major sale event in
their stores. They have a coveted brand and a quality reputation to
uphold, so they must maintain an impeccable image while maximizing
the amount of money they put in their pocket.

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Life-Changing Decisions

Jeff Gordon
Sep 10, 2020

We speak with jewelers every day so we know many are facing life-changing decisions this year. Odds are, you probably are too. The Coronavirus pandemic has forced every retail jeweler to consider a strategy for the future and to develop a plan to survive a very uncertain time.

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Bring People Back to Your Store

Jeff Gordon
Aug 19, 2020

You’ve reopened your store and may be benefitting from some pent-up demand due to the forced closures this Spring. Despite this, traffic is still down even if sales are okay. Odds are, traffic will continue to suffer through at least the end of the year, and likely well into 2021.

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How’s Your Credit?

Jeff Gordon
Aug 5, 2020

The pandemic has affected everyone in our industry and has crippled many otherwise healthy businesses. Mandated store closures this spring created an unprecedented level of disruption to everyone’s cash flow. Businesses have struggled and financial stability has been shaken.

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Experts in Liquidity

Jeff Gordon
Jul 21, 2020

Let’s face it. Much of your wealth is tied up in inventory. The cash you need for liquidity is sitting in your showcases. Unfortunately, aged merchandise is holding you back from financial freedom – or at the very least, the liquidity you need to conduct your business.

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Window of Opportunity

Jeff Gordon
Jul 8, 2020

You’re operational again and business may be picking up. But it’s not where you want it to be. Your inventory has aged and your buying was curtailed for months.

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Emergency Cash Raising

Jeff Gordon
Jun 22, 2020

COVID-19 has placed the American jewelry industry in an untenable financial position. The looting of jewelry stores has added insult to injury and our heart goes out to those who have been affected. And with the late reopening of stores in some states, the crisis can linger for much longer than anyone would like.

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NOT ALL SALES ARE CREATED EQUAL

Jeff Gordon
Jun 10, 2020

You’re either opening up your store or have opened slowly over the past few weeks. A question currently on your mind is: “How do I get customers back into my store?” This is a valid question, and I can tell you the most sure-fire way to accomplish this is to run a major sale event.

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Thinking of You

Jeff Gordon
Jun 3, 2020

The death of George Floyd in Minneapolis – an injustice all its own – has sparked outrage and vandalism in that city and across our country. Designer brands and jewelers have been among the main targets of looting, with destruction of storefronts and jewelry store interiors commonplace.

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Never Waste a Good Crisis

Jeff Gordon
May 26, 2020

In reference to the challenges faced after World War II, it was Winston Churchill who first said, “Never let a good crisis go to waste.” The same might be said about the Coronavirus pandemic. No one planned for a Coronavirus crisis, but we must now face it head on as our businesses begin to reopen.

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Rebounding from the Coronavirus

Jeff Gordon
May 13, 2020

The COVID-19 crisis has devastated our medical community, and in some respects, has had an even greater impact on our economy. As the economy goes, so goes our jewelry industry. We need to get back to growing our businesses as soon as possible.

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Emergency Cash Raising

Jeff Gordon
May 6, 2020

COVID-19 has placed the entire American jewelry industry in an untenable financial position. And with some states hesitant to reopen small businesses, the crisis can linger for much longer than anyone would like.

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Jump Start Your Business!

Jeff Gordon
Apr 29, 2020

I’ve been writing to you a lot, trying to share creative and encouraging messages that resonate with the times we’ve all endured. But now that the tide is starting to turn and it’s time to start reopening our businesses, it’s vital that you get back on track quickly.

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Looking Forward to Recovery

Jeff Gordon
Apr 23, 2020

We are all continuing to suffer from the Coronavirus shut-down, but we see signs of flattening the curve and a time very soon when we can get back to business. This also means eventual recovery and a resumption of growth in our businesses.

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What’s Next for All of Us

Jeff Gordon
Apr 16, 2020

The global pandemic has ushered in considerable concern and uncertainty to the marketplace and to each of us personally. That’s one reason why we want to stay connected with you and to communicate on a regular basis. While we remain at a distance from you and your stores, we want to stay close because we want to help you get through these difficult times.

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Get Creative

Jeff Gordon
Apr 8, 2020

Car dealers are offering months of no payments and free delivery of new and even pre-owned vehicles. Airlines are slashing prices on flights with the cleanest seats and main cabins we’ve seen. Restaurants are making deals on take-out and delivery to stay in business and retain their employees.

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We Are Here For You

Jeff Gordon
Mar 25, 2020

Like you, we are doing our best to navigate the current, unprecedented challenge that our country – and our industry – is facing. We have always considered ourselves to be The Fine Jeweler’s Strategic Partner, not only in good times, but also in times of adversity. We are here for you in this unusual time of business uncertainty.

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Coronavirus: You Need a Policy

Jeff Gordon
Mar 12, 2020

You’re getting emails from the airlines, hotels, rideshare companies, and almost anyone you do business with expressing their concerns about the Coronavirus and what they are doing about it for customers.

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Rethinking Your Business

Jeff Gordon
Feb 19, 2020

As you know, we see a lot of upscale retail jewelry stores and we speak with hundreds of jewelers across North America annually.

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Losing Customers to the Internet?

Jeff Gordon
Feb 1, 2020

The most consistent concern we hear from jewelers is the loss of traffic due to any number of factors, chief among them, the Internet. Most jewelers want and need to capture younger clients for bridal sales, and for future sales down the line. Most of these customers do their research online, and many shop online for gems and jewelry, largely because they can.

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Is Store Traffic Your #1 Concern?

Jeff Gordon
Jan 23, 2020

We speak with jewelers around the country every day and one of their biggest concerns is the decrease in store traffic. Part of the problem is that we’re all accustomed to shopping more and more via the internet, even if people aren’t necessarily buying jewelry online.

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Does Your Store Need a Reboot?

Jeff Gordon
Oct 23, 2019

One of our recent clients wanted to set a new direction in his business. Though he built his business as a fine designer, he had gotten away from his core over the years by investing heavily in other designer-manufacturers. Frustrated and needing a change, he wanted to go back to his roots. So he called us to get some advice about steps he could take to rethink his business.

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Do You Have a Clear Message?

Jeff Gordon
Oct 8, 2019

I came across the above sign the other day and asked myself, “What the heck does that mean?” Is it a construction sale where they’re selling construction equipment or construction materials, a sale because they’re under construction, or something else? Oh, and how does the American flag tie into this “construction sale”? I had no idea what message they were attempting to communicate here.

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Transitioning Your Business (Part 3)

Jeff Gordon
Sep 25, 2019

In my two previous messages, I shared views on whether selling a retail jewelry store to an outside party is a viable option, and thoughts you might consider in turning a business over to a family member.

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Transitioning Your Business (Part 2)

Jeff Gordon
Sep 19, 2019

In my last message, I discussed the challenges of selling your store to an outside party. It is really hard to get anything close to what you might think the store is worth, even if someone could actually write you a check for it.

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Transitioning Your Business (Part 1)

Jeff Gordon
Aug 29, 2019

If you are at or approaching retirement age, you’ve probably considered selling your store. Unfortunately, retail jewelry store sales to an outside party are very rare today. It can be done, but most of those sales are modestly priced and include the storefront, the showcases, some equipment, possibly some aged inventory, and often the assumption of a lease.

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Do You Conduct Special Events?

Jeff Gordon
Aug 14, 2019

I’m a big proponent of special events in your store. We find that those jewelers who do them – be they trunk shows, a lady’s night out, community charities, colored gem roundtables, or any such events – generate goodwill, excitement, and important sales in a month that may normally be just “so-so.”

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Is Debt Causing Sleepless Nights?

Jeff Gordon
Jul 31, 2019

As if there aren’t enough things to keep you up at night while running an upscale retail jewelry business, debt seems to be the one that causes the most sleepless nights. I’m not referring to long term debt such as mortgages or short-term debt with suppliers, unless your cash flow is so bad that you simply can’t keep up.

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A Formula for Successful Business

Jeff Gordon
Jul 17, 2019

We see so many stores in our work with upscale retailers that I want to take time in this message to summarize some key elements to focus on in your business.

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Post Vegas Show Thinking

Jeff Gordon
Jun 15, 2019

Everyone has an opinion about the mood following the jewelry shows in Las Vegas, as do I. Here are my takeaways from the shows:

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Where Have All the Customers Gone?

Jeff Gordon
May 22, 2019

Are you old enough to remember Peter, Paul, and Mary’s famous song, Where Have All The Flowers Gone? Most jewelers are asking the same question about where all the customers have gone.

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Is the Demise of Traditional Retail Overrated?

Jeff Gordon
May 15, 2019

There is an almost ubiquitous belief in our jewelry industry that brick and mortar stores are a liability and that the growth of e-tailing is killing traditional retail. While online searching, shopping, and pricing has certainly impacted some areas of mainstream retail, the death of it is highly overrated.

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Teamwork: A Key to Success

Jeff Gordon
May 8, 2019

I used to say that some things are done better as a team. Now that I’m a little older and a little wiser, I say that ALL things are done better as a team. There is no “I” in team, and that’s why building a great team is not only a key to success, but a key to succession.

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The Formula for a Successful Sales Event

Jeff Gordon
May 1, 2019

Too often I see jewelers running sales that just don’t work. They get frustrated and conclude – incorrectly – that sale events don’t work because the ones they’ve done haven’t worked for them.

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The Truth about Inventory

Jeff Gordon
Apr 17, 2019

We work with upscale jewelers around the country and every client has both similarities and differences. One of the major similarities is in their inventory. One $10,000,000 jeweler told me that the only difference between him and a $1,000,000 jeweler is an additional zero on his inventory level. He’s right.

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Time to Pay Down Debt?

Jeff Gordon
Apr 3, 2019

Despite the corporate and individual tax cuts enacted last year, we hear a lot of reporting about reduced tax refunds this Spring. This tells us that retail jewelers are going to be hit two ways: The first is personally and the second is through less disposable income from customers.

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Industry Changes

Jeff Gordon
Mar 20, 2019

The jewelry industry as a whole grew again in 2018, and a fair number of new businesses opened for the first time. But overall, the number of manufacturers, wholesalers, and retailers declined by about 4%, according to the Jewelers Board of Trade. A decline in brick and mortar stores, in particular, isn’t new to any of you, but there are a number of interesting things to consider as one looks at the industry landscape. Let’s look at a few of them.

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Strategy for 2019: Sell Before You Buy

Jeff Gordon
Mar 6, 2019

The major jewelry shows are only a few months away, but do you really have an open-to-buy, and if so, for what specific items? Is your money tied up with current inventory on hand with much of it aging day by day? How are you going to make your showcases more exciting for today’s customers?

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Want More Customers?

Jeff Gordon
Feb 20, 2019

If there’s one comment I hear more than any other, it’s that store traffic is down. Jewelers obviously need more customers coming through the door. In this regard, I always advise upscale jewelers to have a gauge to measure store traffic on a routine basis because sometimes we think traffic is down when it really isn’t.

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Don’t Hide Your Bench Jeweler

Jeff Gordon
Feb 13, 2019

We work with so many jewelers around the country that we get to see store layouts from A to Z. Traditionally, the bench jeweler is tucked back in a corner somewhere and hidden from customers. If the be..

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Uncertainty Calls for a Plan

Jeff Gordon
Feb 6, 2019

There is a degree of uncertainty in the marketplace and it is hard to pin down why. Corporate profits are still high, unemployment is still low, and the stock market had its correction, but seems to be settling back to a reasonable level. We know about the concern with China and a possible trade war, Europe and Brexit, and another threat to shutting down the Federal government again, but what does all this have to do with you as a retail jeweler?

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The Economy Is Good, But People Are Cautious

Jeff Gordon
Jan 16, 2019

Economy Finance Business Late last year the Fed sent a message to the country that the economy is good, maybe too good. Corporate profits are high and unemployment is near all-time lows. So the Fed raised interest rates the week before Christmas. Not the b..

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Inventory….What To Do With It?

Jeff Gordon
Oct 4, 2018

Increasingly we are seeing fine jewelers moving to a much more modest level of inventory to reduce their drain on capital and to create more and more custom-design jewelry. This is understandable for two main reasons:

1) No one can..

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Experts in Asset Management and Disposition

Jeff Gordon
Sep 21, 2018

People ask us what makes us different. We work almost exclusively with upscale fine jewelers across North America. They come to us because they know The Gordon Company difference.

We advise, monetize, and help you capitalize on your..

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Who’s Your Best Customer?

Jeff Gordon
Sep 8, 2018

The value of being in business
for years or even decades is the tremendous advantage you have with your extensive customer base. Seldom used and often neglected, your mailing lists – both email and postal – are as valuable to you a..

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Planning a Transition Strategy

Jeff Gordon
Aug 22, 2018

If you are at a point of calling it quits, cashing in, transitioning your business, restructuring it to a
different form, or just in need of a jump start for the year, you are at one of the most crucial times in your business since..

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Who Gives You What for Your Inventory?

Jeff Gordon
Aug 22, 2018

It’s the age old question. What should we do with our aged and underperforming inventory?

Should we scrap it? After all, it’s been around for years. But it’s beautiful. Or is it? Your customers have voted on it for years, and they’v..

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Halftime

Jeff Gordon
Aug 22, 2018

The first half of 2018 is in the books, but what do you have in store for the rest of the year? Is it time to step back and make some changes to accomplish your annual goals?

Here’s a formula to help you think through the process:

1)..

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Traffic is Down – Need a Lift?

Jeff Gordon
Aug 22, 2018

Everyone in retail knows that store traffic was down last year and the challenge has continued in 2018.

The good news is that many jewelers were up in sales, but the reasoning is somewhat mixed. Some jewelers had an increase in aver..

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Report #2 on the Vegas Shows

Jeff Gordon
Aug 22, 2018

As mentioned last week, our involvement in four different jewelry shows in Las Vegas this year gave us a unique vantage point to hear and feel the pulse of the jewelry business first hand. In addition to the very serious need of re..

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Report #1 on the Vegas Shows

Jeff Gordon
Aug 22, 2018

The Gordon Company participated in four jewelry shows in Las Vegas this year: LUXURY, JCK, COUTURE, and CBG, which gave us a vantage point that few in our industry could observe. We were busier than ever and probably spoke to well ..

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What Is Happening to Retail?

Jeff Gordon
Aug 22, 2018

The Stock Market is at all-time highs, the housing market is still strong, interest rates remain low, the economy continues to expand, and consumer sentiment is more than adequate despite a concerned societal outlook. Why then are ..

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De Beers and Synthetic Diamonds

Jeff Gordon
Aug 9, 2018

Unless you were on a cruise to
Antarctica over the past few weeks, by now you are well aware that De Beers has announced its foray into synthetic diamond jewelry. They won’t sell loose, man-made stones and will only position goods ..

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Why We Don’t Own Inventory

Jeff Gordon
Aug 9, 2018

As professionals who run sale events for jewelers, we decided long ago not to own our own inventory. We feel it is the jeweler’s job to own inventory, and our job to help them sell it.

Our decision not to purchase close-outs and unw..

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A Solution To Losing Customers

Jeff Gordon
Aug 9, 2018

Every jeweler has the problem of aging customers. It’s great that they have the financial resources to buy bigger and better merchandise, but the tendency of mature clients is to slow down on jewelry purchases, if not stop entirel..

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Traffic is Down, or Is It?

Jeff Gordon
Aug 9, 2018

The refrain we most often hear from retail jewelers today is that traffic is down. How do I get more people into my store?

The only way you’ll know is to take counts of actual traffic in and out of your store, and to c..

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We are in Business to Keep You in Business

Jeff Gordon
Jul 3, 2018

Recently you may have read that over 1,600 jewelry businesses ceased to exist in 2016, the vast majority of which were retail stores. While this decline in numbers was very large on a comparative year basis – and rivaled the numbe..

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It’s Time for New Year’s Resolutions!

Jeff Gordon
Jun 21, 2018

The Holiday Season is over, and hopefully you had a banner month in December and a good 2016. Now it’s time to do it all over again! Every year brings new challenges and opportunities, so it’s time to take stock of how you did l..

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The Sophisticated Approach

Jeff Gordon
Jun 21, 2018

The biggest dilemma for upscale retail jewelers is how to conduct a major sale event without tarnishing their solid image in the community. I probably understand this better than most because that is exactly how I feel about my ow..

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The DNA of a Sale Event

Jeff Gordon
Jun 21, 2018

We are often asked about the goals of our Sale Events. Jewelers want to know how much aged inventory they can expect to sell. Great question, but a lot depends on the type of Sale Event that is conducted.

In a Going Out of Business ..

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What Kind of Sale Should You Run?

Jeff Gordon
Jun 21, 2018

Running a sale in your store is a big deal. A very big deal. If you’re sold on doing a sale, you need to be very sure about the kind of sale you want to run. Conducting a quick one hour or even a one day sale can lift your sales fo..

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We Help You Stay in the Game

Jeff Gordon
Jun 21, 2018

The Jewelers Board of Trade recently reported an increased number of store and business closings for the first quarter of 2018 over the same period last year. In total, 241 retailers ceased operations in just the first three months..

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Time to Make Your Year!

Jeff Gordon
Jun 21, 2018

You and your staff have worked hard all year, but no month is as important as this one. You’re already stocked up and ready for the holiday selling season. Here are three critical reminders:

1) Be Motivated Every Day! Your motivatio..

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Staying In or Going Out

Jeff Gordon
Jun 21, 2018

By now you’ve read that nearly 900 jewelry businesses shut their doors in 2017. These included 706 retailers, 109 wholesalers, and 71 manufacturers. Another 151 companies either merged or consolidated and there were 29 companies th..

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Retirement Business Transition

Jeff Gordon
Jun 21, 2018

With so many retail jewelry stores owned by Baby Boomers, it isn’t surprising that many jewelers are involved, or at least considering, some form of business transition. While such transition may be to the next generation within a ..

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Over-Inventoried?

Jeff Gordon
Jun 21, 2018

As an upscale retail jeweler, your biggest problem is a lack of liquidity due to excessive amounts of aged and under-performing merchandise. Nothing cripples your business more than dead inventory coupled with an inability to pay y..

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Marketing to the Affluent

Jeff Gordon
Jun 21, 2018

If you receive my monthly messages, you already know you are in the upper echelon of independent retail jewelers. You worked very hard to get there, and as importantly, you want to stay there. But are you marketing effectively to t..

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It’s December Time to Make Your Year

Jeff Gordon
Jun 21, 2018

If you’re like most upscale jewelers, you’ll do about 20% of your annual sales in December. This calls for pulling out all the stops and focusing on why you’ve been working so hard in 2017.

You’ve already done a lot of the heavy lif..

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Is Bigger Really Better?

Jeff Gordon
Jun 21, 2018

As an upscale jeweler, you know us as the professionals who help you run a unique, one-time sale event to dispose of your aged and underperforming inventory. And we do a great job at that. But I think few jewelers realize that we a..

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Is Aged Inventory Weighing You Down?

Jeff Gordon
Jun 21, 2018

Peter Smith, president of Vibhor, recently wrote an article that caught my attention. Titled “What If You Started Your Business Today?” it spoke to a lot of the issues retail jewelers face. But the part that stood out the most to m..

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How is Jewelry Inventory like Cholesterol?

Jeff Gordon
Jun 21, 2018

A jeweler’s inventory is a little like cholesterol. When jewelry ages and underperforms in your store, it causes a buildup that cripples your cash flow and keeps you from buying product you need at price points that are missing in ..

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Do You Use Professionals?

Jeff Gordon
Jun 21, 2018

On occasion we hear comments from fine jewelers that go something like this: “I would never use a liquidator in my store. It would demean my image and the stellar brand name I’ve built over the years.”

OK, fair enough. But are profe..

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Change Is In the Air

Jeff Gordon
Jun 21, 2018

A recent article in National Jeweler referenced studies by The Knot and identified a drop in spending for both weddings and engagement rings last year. The Millennial’s focus on experience continues to buck tradition in ways that have many jewelers scratching their heads.

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Building Your Brand Preserving Your Image

Jeff Gordon
Jun 21, 2018

A brand is a promise, an expectation without compromise to the integrity of what you have built. A brand provides a specific belief in the minds of your customers. It’s the sum of the emotional and rational perceptions people have

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Are You Security-minded?

Jeff Gordon
Jun 21, 2018

There have been a host of smash and grab incidents of late, and even more serious acts of violence in 2018. It begs the question of whether jewelers are as security conscious as they should be. Every year, fellow tradespeople are i..

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