I’ll never forget the day back in the late 70’s when my boss took me aside to talk. I was a bench jeweler for his downtown jewelry store, my first job out of college. I was married and we were expecting our first child. The economy was a mess and I was concerned how long I would have a job.
He told me not to worry because the retail jewelry industry was one of the most recession proof businesses to be in. When the economy is great - we sell jewelry, and when there is a downturn - we sell remounts and repairs. He said there were very few jewelry store closings during the Great Depression of the 30’s (I’ve never checked that out, but he was old enough to have known). He reassured me that during an economic downturn the Bench Jeweler is the MOST important employee in a retail jewelry store.
Last week I was reminded of his little talk when I read some early statistics on jewelry sales for 2008. Every single category was down from 2007 except for one. Engagement and Wedding Rings, Platinum Jewelry, Diamonds, Colored Stones, Gold Jewelry, Silver Jewelry, Pearls were all down from last year. The one lone category that was not only up, it was up 16% over 2007 was Jewelry Repairs!
As you make plans for your Valentines Day advertising and for the rest of 2009 Promote Your Shop Services! To be successful in 2009 you must keep your inventory levels low, train your staff to sell remounts and repairs, and provide your bench jeweler with continuing education so that they will be prepared to handle the increased work load.
Advertise Your Repair Services. Hold Re-Styling Events. Promote Custom Designed Remounts. 2009 will be the Year of the Bench Jeweler – Are you ready for it!
Southeastern Findings can supply all your Jewelry ToolNeeds.