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 best timing for jewelry retailers. Somehow you made it through that week and the year, but have very real concerns about 2019. As you see from the chart below, the market dip provided buying opportunities and has started the year off strong.
Business for many was still good, but we know that past performance is no guarantee of future success. In fact, because of the two W’s (Washington and Wall Street) people are cautious, even squeamish about the new year. When people see their portfolios decline (even if only on paper), their mood changes and they simply don’t feel as wealthy as they once were. Whether right or wrong, that’s how they feel, and almost nothing we do can change that.
Hundreds more jewelers closed their doors last year for any number of good reasons. For many, it was simply time to retire, and no one was there to take over or to ensure a secure financial future for the owners. We helped many of these with Going Out of Business sale events to maximize their return on investment. But if you are among those who are trenching in and facing the new year, we are excited for you and open to helping you in any way we can.
A cautious public is looking for a deal, and you, like all upscale jewelers, have too much aged and unwanted merchandise. Let our expertise and experience show you how to purge product and reduce inventory levels. Our sales are a perfect fit with consumer sentiment that wants and expects reasonable discounts on their purchases.
So consider how you can meet your needs while meeting similar needs in your community as early as this Spring. You’ve spent decades building a great reputation in your area, and that is a huge benefit when you have a one-time inventory reduction sale.
If this sounds like a good idea, or even if you want to explore possible options, give us a call to discuss your needs on a strictly confidential basis. Don’t let the two W’s get you down. Take advantage of your unique position and turn an apparent negative into a huge positive.