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 are educators and counselors on how to operate your business more successfully long after we conduct a sale. We have an almost exclusive interest in helping you stay in business and thrive in the future.
The retailers who are suffering the most today are the department stores which have always tried to have the biggest footprint in a mall with the most inventory, the most employees, and a goal of keeping the customer shopping until they buy something. But as we all know, with the advent of the internet and mobile devices, retailing is changing rapidly. And this has most certainly spilled over to jewelry retailing.
In recent years we have seen a trend in upscale retailers to reduce store size and focus on quality over quantity, with select outside brands, custom one-of-a-kind pieces, and a strong “house” brand name and image. The idea, of course, is to re-invent the way you do retail, rather than retreat from it altogether. In other words, all jewelry retailers must find their niche, and quickly. So when we see our smartest upscale clients scaling back in size, creating greater selectivity, and focusing more on what they want to be to a new generation of refined jewelry consumers, we feel compelled to share it with you.
Bigger isn’t always better, and this has never been more evident to us than right now. So if you need advice on what to do next in your planning horizon, how to make a strategic change in business, or simply get a second opinion or assessment of your current situation, we would be pleased to help. Give us a call or drop us a line because we’re in business to keep you in business.