Columnists David Brown

David Brown

The true cost of aged inventory

One of the biggest headaches for most retail jewelers is the issue of surplus inventory and what to do with it. In many cases the majority of this product has become old, and the problem gets compounded by the need to keep adding fresh product – of which around 80% eventually joins the old category as well. Many jewelers see this as an excess inventory problem – in most cases however, I prefer to attack it from the point of view that there is a shortage of sales.

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It’s Trade Show Season – so, are you prepared?

The next few months promise to be busy ones for most stores with trade shows and group meetings taking up a good chunk of the calendar. Often, depending on their store lo...

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How are your New Year’s Resolutions holding up?

I’m writing this on the Eve of New Year and, as always, this is a great time to reflect on what has happened during the last twelve months, and set in place promises fo...

Three good reasons why diamonds need to be the backbone of your business

If a jeweler returned from the 1950s, would he recognize the retail landscape that jewelers have to deal with today? Probably not. The consumer of the 21st century is a d...

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When did you last ask yourself what you really wanted from your store?

Caught up in the day to day business of trying to make a living, it is easy to forget the purpose behind doing what you do – or even whether you still have a purpose an...

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We don’t always do what’s best for us

My friend’s daughter has a loose baby tooth. The other tooth has been trying to get through for a while and is pushing at it from underneath. Now, it would be easy to g...

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Your customers don’t think “Cost Plus” and neither should you

One of the most controllable yet neglected areas of jewelry retailing is mark up. Most new product coming into a store is priced on a standard mark up percentage. The ass...

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Do you need to buy that item right now?

You know the situation. A vendor has just called and advised they will be in the area tomorrow and would love to show you their new range. You’ve just opened the bank a...

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The importance of staff communication

The importance of staff communication

This may seem an unusual topic – after all, telling staff what’s going on in the store should be a forgone conclusion. But sadly, it’s one of those things that so o...

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