A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Coach’s Corner: Is Your Business Open to Change?
It’s not going to be business as usual when we open up, writes Pat Henneberry, and the jewelry industry will need to adapt.
How do we adopt new ways of, for example, buying from a vendor, selling to a retail customer, educating our staff and/or attending jewelry shows (or not)?
I would suggest that in order to confront the rapidly evolving world around us, you need to have a system in place to adapt with the changes.
And you need to be open to change like never before.
Look for new technologies and be open to new ways of selling and new products that work in this new place in which we find ourselves.
It’s not going to be business as usual when we “open up,” not for you or your customers.
You need to ask yourself: How are you going to attract your customers back in your store?
Your customers have gotten use to virtual meetings, working from home and buying everything online. So, what’s the pull going to be?
It’s no secret the world has been changing before our eyes. Our industry is a global industry and depends on worldwide business.
So, then, how do you find the best way to handle these changes? To make sure you, and your stores and businesses, can hit any curve balls that come their way?
As a marketing expert, coach and trainer for more than 30 years in the jewelry industry, I’ve witnessed the implementation of many frameworks, brands and sales methodologies to launch new products, expand or simply keep companies afloat during tough times.
I remember when ArtCarved sold the Keepsake name to Walmart and everyone thought that would kill the diamond business, when the big-box stores were going to take over the mom-and-pop shops and put them all out of business.
There are many more stories and industry events we have all endured.
What I’ve found is that those who approach their businesses with a rigid system often buckle under the shifting currents. They don’t last.
But there is one simple thing we can do, and it won’t cost you anything.
The best way to handle an evolving world in this unprecedented time is with a system built around just that: evolution, being open to new ideas and being flexible.
An agile approach is one designed to keep you limber and able to roll with the tides of
Yes, this might seem too simple in such a difficult time.
Trust me, I am presently looking for my next company to work with, and it’s been a challenge. Timing is everything, and now’s not the best time in our industry to be job hunting. It’s tough on everyone!
But there is not one person in our industry who’s not affected by our world right now. I would advise all of us to stay open to new possibilities.
Be ready to move quickly on new ideas; don’t wait for everyone to jump on board.
Be a trend-setter, be flexible and be open to new product.
Before I sign off, I want to leave you with this recap of the words I most want you to remember from this column. I hope they help.
Evolve, be flexible, stay open, pivot (one of my favorite words), be limber, roll with it, and stay agile.
Also, stay creative and open-minded, for new ideas will come from this.
We have been through tough times before. Our industry is going to get through this and rise up, just as we have so many times in the past.
If there is anything I can do for anyone, please email me at pat@pathenneberry.com.
Peace and prayers, my friends.
The Latest
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.