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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