The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
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 two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
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.
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.
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.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
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.
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.