SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
Brought to you by
Evaluating Your Inventory For Success in 2021
After months of pandemic-driven social distancing, restrictions and lock-downs, consumers will be excited to visit your store. Now is the time to ensure you have the right inventory on-hand to capitalize on that excitement!
Brought To You By RDI Diamonds
As we kick off a new year, we all hope for a return to normalcy. After months of pandemic-driven social distancing, restrictions and lock-downs, consumers will be excited to visit your store. Now is the time to ensure you have the right inventory on-hand to capitalize on that excitement! Here are some tips for success.
Turn to Technology
As they say, the best predictor of the future is the past. Without a doubt, the most effective way to maintain an accurate view of the past is through technology and point of sale systems (POS).
Unfortunately, jewelry stores are notorious for “breaking the rules” and not enforcing a consistent POS process. Entering data correctly and across the entire store is essential for gleaning accurate insight to help plan for your future needs.
Unfortunately, jewelry stores are notorious for “breaking the rules” and not enforcing a consistent POS process. Entering data correctly and across the entire store is essential for gleaning accurate insight to help plan for your future needs.
Carry the Essentials
Make sure you have the classics in the cases. For example, round brilliant cut diamonds are consistently the most popular and thus, will always be in high demand. As far as finished jewelry goes, diamond studs sell year-round and are timeless pieces that will never go out of style.
Did you know that 80 percent of engagement ring shoppers buy a ring on the first day they set out to shop for one? That means if you don’t have what they want, they will go somewhere else. This is why it is so important to leverage the technology and data available to you to better understand both your competition and your customer.
Did you know that 80 percent of engagement ring shoppers buy a ring on the first day they set out to shop for one? That means if you don’t have what they want, they will go somewhere else. This is why it is so important to leverage the technology and data available to you to better understand both your competition and your customer.
Know Your Target Customer
It stands to reason that the Los Angeles jewelry market is always going to be drastically different than the market in Buffalo for example. Differences in demographics like median incomes and style preferences unique to your market should play a vital role in setting prices.
Keep an Eye on the Competition
I see a lot of jewelers make the mistake of pricing their diamonds based on national data, but it really isn’t a good indicator of what’s right in every market. A better pricing strategy is to watch your local competitors. No one wants a race to the bottom, so rather than setting out to beat them, just mimic their pricing to create an even playing field. Better yet, find a way to deliver more value – like offering custom jewelry designs – so you can charge slightly more.
Editors' Picks
Sponsored by
The pandemic altered the way we interacted with others both personally and professionally. To succeed, jewelers need to continue to be creative this year in both online and in-store retailing, offering customers both convenience and confidence in the ways they purchase.
Supply Your Demand with RDI's Simple Stock Solutions
Expand Your Diamond Selection and Browse RDI’s Extensive Inventory
Supply Your Demand with RDI's Simple Stock Solutions
Expand Your Diamond Selection and Browse RDI’s Extensive Inventory
More on Independents
The Latest
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
Weekly QuizApr 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
EditorsApr 25, 2024
5 Tips for Creating Fans from the Top (Savannah) Banana Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
SourcingApr 25, 2024
De Beers Lowers Production Guidance for 2024The announcement came as the company reported a 23 percent drop in production in Q1.
MajorsApr 25, 2024
Detroit Lions’ QB Jared Goff Keeps Going to JaredThe three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High 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.
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
SourcingApr 24, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
