Last updateWed, 20 Jul 2016 10pm


Beads, Beads, Beads - Part 1

Let’s face it, there should be no denying the bead craze that has swept through the jewelry industry.  If you’re anything like I was about a year ago, you may find yourself in quite a quandary, asking yourself, “How will my store handle beads?”

Well, like it or not it’s time to cast your lot into this crazy new world of beads.  As a fellow retailer, it’s only right that I share with you some of my experiences and a lot of what I have learned.  The power of this concept is not without merit.  These little beads generate incredible merchandise turns, decent profit margins, and almost fanatic followers.  It’s a craze that we haven’t seen in many, many years and, for some stores, it’s been a savior.

Death by Discount

I was shocked, to say the least, and very disappointed. I had just quoted a retail price of $75 for a sapphire I knew would cost me $50, and I also offered to set it for free. My customer’s incredulous reply, “Is that the best you can do?” I was friendly, of course, and replied that was a great deal, but the customer left anyway.

Is your location relevant?

By relevant I mean, is your location working for you today and for tomorrow? Is it bringing in traffic that is your desired customer base? Is traffic flow and parking easy for your customers to drop by frequently. Is it near other areas your customers typically shop so you are always a visible reminder to these customers? Does the interior and exterior vision send the message you desire to your market?

Reach out to Millennials – Part II

In Part 1 of this series we discussed who are the Millennials and how can an individual Jewelry Professional/Store use their assets to reach out to broaden the Millennial’s experiences towards career choices.

This article is intended to provide ideas or guidelines you may want to explore on what and how you or your store can attract Millennials to your business in general and as a career choice. Perhaps you have already incorporated some of these ideas and can share back with us any successes you have had with Millennials.

Reach out to Millennials - our future industry leaders

How did you get started in the jewelry business?  Most likely, back in high school, you were not saying that you were going to grow up and be in the jewelry business.  Something influenced you though!  What?

You are this industry’s best asset!  You know this business!  You have been there through the ups and downs (including gold prices!).   You have the knowledge and experience to be the passionate resource to lure the brightest and most creative into our business.

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