| When the head of Rolex says that 2024 will be a challenge for the Swiss watch industry, people take notice. The big question is how the year will be for the rest of the gem and jewelry industry. Jewelers are telling us that the first quarter of the year has been soft. Recent comments by Signet CEO, Virginia Drosos, indicate the same. Consumers are looking closely at their budgets and are prioritizing their spending. Inflation may be down, but everyone is feeling the cumulative effects of four years of unusually high inflation. This has a major psychological effect on consumer attitudes and behavior, and especially on discretionary spending for luxury goods they can otherwise live without. Some 60% of Americans are reducing their spending on non-essential items. All this begs the question: Do you have a plan for 2024? At The Gordon Company we excel in helping fine retail jewelers confront slowdowns in consumer spending by increasing community exposure, driving traffic, growing your customer list, and most importantly, significantly growing sales. If you need a lift this year and want to reduce unwanted and underperforming inventory, we have the answer. Contact us right away for a confidential, no obligation consultation on how we can help you make your year. We look forward to hearing from you. |
