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 over 100 jewelers from every part of the country.
We mainly interacted with upscale jewelers, who we mostly work with. They are not looking to go out of business. Instead, they are looking to stay in business and grow, yet need to get into a better inventory position to do so. Delightfully, most everyone we spoke to was up in business, many of whom were well into double digit increases this year. This speaks to their marketplace reputation and the attitudes and buying habits of jewelry consumers today.
The biggest concern these same jewelers had was the excess inventory they still carried, which had been building over time, despite their increased business. This is preventing them from making the changes they feel they must make in their stores to continue to ride the current wave of growth and consumer sentiment, which in turn gets them in line with today’s times. What we heard was a constant refrain that went something like this: I need the newest and best available product in my showcases and more than ever I need to divest myself in aged inventory in order to have the open to buy for the most current, saleable product.
Our experience at The Gordon Company is that our sales generate better returns than a 3 or 4 or 5 to 1 stock balancing policy offered by many manufacturers. By the very nature of the deals that most vendors offer, retailers are being forced to over buy, which causes an even bigger problem for them down the line. Jewelers have a tendency to put off sale events hoping that something will change in their merchandise holdings and cash flow needs, but this almost never occurs without a hard-hitting change.
Join the many jewelers who are taking action now in order to ride the current wave of business growth. Please give us a call to see how we can help you.