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What will become of the retail jeweler?

Jewelry Discussion
#1

I have had a few emails from jewelers reacting to so many lasers for
sale. The talk? Stores closing up.

Its more than baby boomer jewelers retiring. Its stores not keeping
up withwhat’s happening today It’s a National Jeweler article, part 1
today and part 2 next week.

I’ve talked to too many jewelers who fit this profile The only reason
MANY JEWELERS are still open today or pushed their closing up shop
date out a few years is because of the buying of scrap gold. It kept
the heart attack patient alive a few more years.

Just a little longer article it’s SPOT ON! Recommend a read for
every one of you yes, thats little ole you

http://www.ganoksin.com/gnkurl/ep8268

David S. Geller
JewelerProfit.com

#2

This article has hit the nail on the head. As our economic diversity
has changed, and the Internet has brought huge changes to the way
people shop, Jewelers must adapt. Those who don’t are dying, many
from the desire to be all things to all people at the cheapest
price. It is harder for those of us in the trade for many years to
tackle the changes, but it has come to do or die. I am looking
forward to the next part of this article.

Melissa Veres, hand engraver and goldsmith

#3

This piece could have been written thirty years ago. In fact, if I
remember correctly, it was. The real loser back then was going to be
the 5000 square foot store trying to be all things to all people,
just as it seems to be now. We need(ed) to decide if we are/were
going to be the cheapest or the best, we can’t be both. The only way
to survive is/was to get rid of slow movers (both inventory and
staff), get better lights, re-order fast sellers, specialize and
become as lean and mean as possible. Apparently, the sky is still
falling and if we don’t get up to speed connecting with Millennials
(before them, it was Gen X’ers and before them, Baby Boomers), it’ll
take us down with it. Boy, the more things change, the more they
stay the same.

For decades if not centuries, the secret to staying in business
remains the same - you’re either green and growing or you’re ripe
and rotting.

Dave Phelps