The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The perils of credit
It's that time of year again when retailers get ready for the big holiday rush. The orders have been placed. The new merchandise is coming in. The holiday wrapping paper and bows are set, and you're ready to go. You...
It's that time of year again when retailers get ready for the big holiday rush. The orders have been placed. The new merchandise is coming in. The holiday wrapping paper and bows are set, and you're ready to go. You have extended yourselves financially to ensure that you can give your customers a fresh and exciting selection of jewelry, and many of you go into the season owing a lot of money to your suppliers. You take a lot of risks to have an appealing store that will bring customers in and have them leave with beautifully wrapped packages. You don't just do it for the sense of pride that it gives you: There is a financial reward for you at the end of December that you hope will let you keep your stores open during the winter and spring months that follow.
One of the difficult things about being a retailer is having to accept returns. Most stores today have a fairly generous return policy, but small retailers have a particularly hard time accepting returns because, for them, the difference between a good season and a bad one can often be in the amount of returns. When a customer buys an item and removes it from your inventory during the critical holiday season and then returns it to your store in January, you may end up sitting on that piece of inventory for years until it is sold again. But this is part of the risk of business and you accept it as such.
Many retailers are not aware that when they take credit cards as payment for goods sold, they are taking a second risk as well. First, remember that when you accept a credit card for goods or services sold, you're being assessed a fee by the processing company for not only the cost of the goods but the tax as well. So, in effect, you are being charged a fee on the tax. If your tax rate is 7 percent and you sell an item for $10,000, the tax is $700. If you have to pay 3 percent to your credit card processor, that amounts to $21 of additional charges that you, as the retailer, must pay. The total fee for that $10,000 sale is now $321.
Are you also aware that when the item is returned to you, the credit card
The small merchant has always been in a difficult battle with bigger business. The banks and credit card companies in recent years have found so many ways to charge for so many things that they are making it harder and harder for the small merchant to stay in business.
Editor's note: James Alperin owns James Alperin Jewelers in Pepper Pike, Ohio. If you would like to share ideas on how to deal with this credit dilemma, comment on this story.
The Latest
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.