What will become of the retail jeweler?

dgeller 2016-04-14 09:43:08 UTC #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

mveres 2016-04-15 02:26:37 UTC #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

davidphelps7 2016-04-18 09:38:10 UTC #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