As you know, we see a lot of upscale retail jewelry stores and we speak with hundreds of jewelers across North America annually. While brands are still very special to consumers and to the retail jewelry industry, we are seeing more and more fine jewelers concentrating on promoting their own name in their community and their own house brand, particularly with custom design in a unique store setting. The experience is what really matters.
What is happening is a re-thinking of what each jeweler wants to represent in his region based on changing demographics, the consumer of today, shifting lifestyles, and new ways of doing business. Sharp entrepreneurs are taking bold steps to reinvent themselves. Bold isn’t crazy. It’s a strong, confident move to continuously adapt to these changes and to direct your business toward what will make you happy in the future.
You must ask yourself the hard questions. Am I still relevant to today’s jewelry consumer? Does my store represent what I want to be in the community? What changes must take place in order to grow and compete in the marketplace? Am I listening intently to what my younger staff are saying, or am I too set in my ways to adapt? Do I have the courage and energy to be bold in the face of challenge and change, and even to re-shape my store for the future.
Consumers still want to visit a store, see and feel the product, look a salesperson in the eye and know they can trust her, and enjoy the entire experience, often with their significant other at their side. Many retailers are reinventing the layout of their stores to accommodate today’s astute consumer, and to create an experience they simply cannot have online or in traditional stores.
At The Gordon Company, we are in business to help you stay in business and to meet your financial or retirement goals. Drop us a line or give us a call if we can help you re-think and plan for your future, and create the experience your customers seek.
Jeff Gordon, CEO