10222017Sun
Last updateWed, 18 Oct 2017 12am
Overnight explains how to say, “Yes!” to every sale

Overnight explains how to say, “Yes!” to every sale

Releases 2 new catalogs  

Being a jewelry retailer h...

Sandy Jones jewelry career comes full circle

Sandy Jones jewelry career comes full circle

They say never burn a bridge you may need to cross...

Remembering Janel Russell, creator of Mother and Child Jewelry

Remembering Janel Russell, creator of Mother and Child Jewelry

Motherhood defined much of Janel Russell’s life, b...

Other News

The psychology of the allure of gold

The psychology of the allure of gold

When you think of the color gold, images of grandeur and extravagance are likely to come to mind.

For millennia, the metal has adorned crowns and hilts of swords. It has been used to enhance paintings and ornaments to increase their value.

In some cult...

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Industry Events

Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

Conference to be held November 10 & 11, 2017 at CUNY Graduate Center, New York City

Initiatives in Art & Culture (IAC), an organization committed to educating diverse audiences in the fine, decorative, and visual arts, has announced their 19th...

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On The Move

Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

Paul Machiels, who has spent the last 37 years selling jewelry, chains, and charms to retail stores, has announced his retirement. His announcement coincides with his intention to sell JKM Enterprises, parent company of Charms Plus, to interested buy...

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What's New

Merit Diamond introduces MFIT®

Merit Diamond introduces MFIT®

Innovative men’s wedding bands designed with maximum comfort in mind

Merit® Diamond, manufacturers of the popular, luxurious diamond fashion line Sirena®, has developed and tested their supremely comfortable men’s MFIT® wedding band line over the past...

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Featured Articles

Alamea Hawaii’s appeal washes deep into America with elegance & beauty of the sea

Alamea Hawaii’s appeal washes deep into America with elegance & beauty of the sea

One doesn’t have to live in paradise to appreciate and crave a piece of it. With this in mind, Alamea Hawaii brings the beauty of Hawaii and beyond to inner America with elegant and fashionable designs for jewelers and retailers, inspired by the most...

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Latest News

The psychology of the allure of gold

4 DAYS AGO
The psychology of the allure of gold

When you think of the color gold, images of grandeur and extravagance are likely to come to mind.

For millennia, the metal has adorned crowns and hilts of swords. It has been used to enhance paintings and ornaments to increase their value.

In some cultures, gold is a predominant feature of festivals a...

Readmore

Scientists believe cosmic collision reveals origins of gold

4 DAYS AGO
Scientists believe cosmic collision reveals origins of gold

WASHINGTON (AP) — It was a faint signal, but it told of one of the most violent acts in the universe, and it would soon reveal secrets of the cosmos, including how gold was created.

Astronomers around the world reacted to the signal quickly, focusing telescopes located on every continent and even in ...

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Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

4 DAYS AGO
Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

Conference to be held November 10 & 11, 2017 at CUNY Graduate Center, New York City

Initiatives in Art & Culture (IAC), an organization committed to educating diverse audiences in the fine, decorative, and visual arts, has announced their 19th Annual Fashion + Design Conference will be held N...

Readmore

Andie Weinman sparkles in the City of Gold

11 DAYS AGO
Andie Weinman sparkles in the City of Gold

Preferred Jewelers International CEO shares info on PJI and successful American retail strategies in Dubai

The City of Gold was the international backdrop for the Gemological Science International (GSI) presentation on ‘The Successful American Retail Strategies’ during DMCC Dubai on September 12, 201...

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Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

20 DAYS AGO
Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

Paul Machiels, who has spent the last 37 years selling jewelry, chains, and charms to retail stores, has announced his retirement. His announcement coincides with his intention to sell JKM Enterprises, parent company of Charms Plus, to interested buyers. His book of business continues to be lucrativ...

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Patrick Retzer joins the Color Merchants/Brevani family as V.P. of Sales

25 DAYS AGO
Patrick Retzer joins the Color Merchants/Brevani family as V.P. of Sales

(NEW YORK) - Brevani, the branded division of Color Merchants Inc. has announced they’ll be bringing on industry veteran Patrick Retzer to head up their sales division and oversee the brands direction.

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Merit Diamond introduces MFIT®

4 DAYS AGO
Merit Diamond introduces MFIT®

Innovative men’s wedding bands designed with maximum comfort in mind

Merit® Diamond, manufacturers of the popular, luxurious diamond fashion line Sirena®, has developed and tested their supremely comfortable men’s MFIT® wedding band line over the past 5 years. The patented brand provides men with “no...

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GN Diamond offering free Gemprint on all diamonds

11 DAYS AGO
GN Diamond offering free Gemprint on all diamonds

GN Diamond listens to the common pain points experienced by jewelers on a daily basis. Internet shopping is one of the biggest obstacles expressed by the brick and mortar store. By offering added value and annual savings through Gemprint, jewelers are now armed with a point of distinction against th...

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Furry friends on the job: Loki - Kingsbury Designs & Repairs, Clinton, Mississippi

4 DAYS AGO
Furry friends on the job: Loki - Kingsbury Designs & Repairs, Clinton, Mississippi

 

This is Loki. Loki works for David at Kingsbury Designs & Repairs in Clinton, Mississippi. David says Loki was named after the evil brother of Thor, but his customers love him anyway.

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Furry friends on the job: Larry at Douglas Jeweler in Hartford, Wisconsin

11 DAYS AGO
Furry friends on the job: Larry at Douglas Jeweler in Hartford, Wisconsin

Say hello to Larry, the mini golden doodle. Larry loves going to work with his “dad” and “grandpa” at Douglas Jeweler in Hartford, Wisconsin. Larry likes wearing his finest clothes to work and always greets everyone with a tail wag and kisses!

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The Marketing Minute: Trend Spotting

4 DAYS AGO

Marketing specialist George Prout produces a weekly marketing advice video for retail jewelers, The Monday Morning Marketing Minute. He’s generously agreed to let us share them with our eWeekly readers.

 

Click here  to see more of George Prout’s The Marketing Minute

 

 

 

 

 

 

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The Marketing Minute: Pricing Strategy

11 DAYS AGO

Marketing specialist George Prout produces a weekly marketing advice video for retail jewelers, The Monday Morning Marketing Minute. He’s generously agreed to let us share them with our eWeekly readers.

 

Click here  to see more of George Prout’s The Marketing Minute

 

 

 

 

 

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Let’s talk shops duex

Earlier this year I wrote an article about the relationship between retail stores and trade shops. I got quite a bit of feedback from both sides of the equation and decided that right before Christmas would be a good time to revisit the topic.

As a retail store owner with a bench jeweler on premises (me), I know how fortunate I am. But, as the owner of a trade shop as well, I find that jewelry stores fit into two categories: 1.) I’ve never had a bench jeweler on premises and have always used trade shops. 2.) I’ve had a bench jeweler on premises for 30 years but once she retired I haven’t been able to find a replacement so I am forced to use a trade shop.

Let me tell you, there is a huge difference between a trade shop and an ‘on-premises shop’ that only does their own store’s work. If you have a jeweler on your premises, you make the decisions about how much non-revenue producing work you want your jeweler to do on each job. I talk to a lot of bench jewelers that tell me their store’s policy is every ring is to be ‘refinished as new’ after every repair. I think that’s a great policy, but...if you put ‘refinish as new’ on an envelope and send it to a trade shop you’re gonna get charged for the original repair and around $18 for the additional finish out.

If a store has never had a jeweler, then they don’t expect the trade shop to spend an extra 30 minutes on something they’re not paying for. An $8 sizing is just that, an $8 sizing with a quick thorough cleaning and polishing. Not an $8 sizing (6 minutes tops) plus 30 free, un-billed minutes to just touch up some other stuff while it’s in the shop. Stores that have never had a jeweler know that if they want any additional work done, all they have to do is write it on the ticket and it’ll get done... just with an added charge $$$.

Trade shop jewelers also have the burden of remembering what level of service each individual store wants and expects. Case in point: Fifteen years ago I had a Bailey Banks and Biddle account (before the corporate price list and contract era) that was one of the highest grossing stores in the chain. The manager and I had an agreement that if something needed to be done to a ring they sold, just do it and charge her for it. Don’t call her and discuss it. At the very same time I had an account where the owner would ask me the cost of a repair. If I said $9.00, he’d tell me to only do $6 worth of work and stop. (Little did he know I would stop after $5 worth of work and bill him $6 anyway... Hah!) But all trade shops have accounts on both ends of the spectrum that we’re juggling daily.

Now store owners and managers fall into two mindsets when it comes to the shop: 1.) You think of your shop as an asset to your business. 2.) You think of your shop as a liability that sucks away at your life, your livelihood, your profit, and your soul.

I work with both types, but mostly I work with the stores that think of the shop as a profit center and an asset. Because these stores are charging their customers triple key for the work, they usually have a pretty good idea how much their bill is going to be when they send the work out, because they priced it to the customer based on their cost. But, the #2 group is alive and well out there. This group doesn’t add a mark-up to their trade bill. They do it at-cost as a customer service and usually guess at the price. This group is always shocked and surprised every time they get their bill. Anyone that uses a trade shop knows those bills can add up in a hurry. Okay, that’s the retail stores. How about the trade shop jewelers?

Trade shop jewelers fall into any combination of these categories (usually changing several times over the course of a day): Busy, harried, rushed, pissed, irritated, hung over, weird, cranky, finicky, anti-social, extremely talented, extreme self control, extreme lack of self control, and downright friggin’ awesome. And that’s all before lunch.

Store owners and managers on the other hand are: Confident, always in control, smart, goal oriented, social, engaging, driven, team players, counselors, confidants and well dressed.

So now I ask you... how in the hell did we ever meet in the first place? We have nothing in common. We don’t like the same people. We don’t hang out at the same places. Hell, we don’t even like each other. What’s the attraction? Oh yeah... we need each other.

I write this for one reason. As the ‘in-store jeweler’ becomes harder to find (Joe Cassarino quit hogging those 6 bench jewelers for yourself up there in Rochester, NY), more and more stores are being forced to use trade shops. And, more often than not, that trade shop will be in another state. I’ve never met the bulk of my trade accounts face to face, but we manage to get the work done to everyone’s satisfaction somehow, so it does work.

If you have a trade shop in your area that picks up and delivers to your store, I want you to think about this. The number one complaint I hear from bench jewelers that do trade work is the rising cost of fuel that they have to absorb driving all the way to your store to pick up a sterling silver bracelet that needs one charm soldered on. Now if it’s for a birthday present this weekend and you really do need it, that’s one thing. If the customer was just in the area and dropped it off and said no hurry, then call your jeweler and tell him to not come by today. It used to just be a hit on your billable hours driving all over town doing deliveries. Now with $4 a gallon gas, all the trade shops out there are taking a beating. Throw an extra $20 in the plate for gas once in a while.

With Christmas right around the corner, I’ve posted on my website my article from last Christmas about my shop policy for Christmas orders and repairs. Please take a look. You’d be doing your shop, your jeweler, and yourself a favor by reading it and thinking about implementing those policies in your store over the Christmas season. You can read it at www.CMKCompany.com. Good luck... sell a bunch... and try to have fun in these crazy times.

Oh yeah, I was just kidding. We really do like you retail folks. We just can’t let the other bench jewelers know cause they’ll make fun of us.

Chuck is the owner of Anthony Jewelers in Nashville, TN. Chuck also owns CMK Co., a wholesale trade shop that specializes in custom jewelry and repair services to the jewelry industry nationwide. You can contact him at 615-354-6361, www.CMKcompany.com or send e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it..


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