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Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
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3 Reasons Your Store Should Add An Estate Category
Increase profit margins, generate traffic and attract new customers with an Estate assortment by partnering with Windsor Jewelers, Inc.
Brought To You By Windsor Jewelers, Inc.
Jewelers looking for an additional revenue stream, exciting “new” merchandise, and to attract customers this holiday season need look no further than a trusted estate partner. As America’s market leader, here are Windsor’s top three reasons to add an estate assortment to your store.
Additional Revenue Stream
The Estate market has high profitability margins. With wholesale prices below industry standard, rare and signed vintage pieces can fetch profits in excess of keystone while still being offered at a discount below MSRP to your customers.
Vogue.com predicts the resale market will hit $64 billion by 2024 and the online secondhand market will grow 69% by the end of this year. For stores with existing estate departments this increased demand is an opportunity to further expand your inventory and assortment. Windsor’s depth and breadth of resources will allow you to fulfill more client requests than in years prior.
The estate market’s excellent value coupled with this increased demand gives you a coveted new category for pitching to new and existing customers alike.
Enjoy the estate market's wide array of jewelry from antique and vintage to contemporary designer well below traditional wholesale prices.
Alternative Merchandise
Perhaps the most exciting selling point for customers is the unique, one-of-a-kind nature of the product. Because antique and vintage merchandise is handmade, the jewels often feature skilled craftsmanship impossible to replicate today. From millegrain and filigree to unique cuts and hard-to-find gemstones, these pre-loved jewels boast details not seen in their contemporary counterparts.
Working with a partner like Windsor Jewelers, Inc. gives your team a tailored experience and jewels curated for your client needs. The merchandise encompasses impressive antiques, signed vintage and unique gemstones ranging from $500 to $3+ million wholesale. With retail sales expected to grow 13.5% this year, hitting $4.44 trillion in 2021, the allure of estate merchandise will generate traffic to your store this holiday season and beyond.
Due to the handmade nature of antique and vintage merchandise, the jewels often feature skilled craftsmanship impossible to replicate today.
A Sustainable Option
Pre-loved vintage and antique jewelry is an eco-friendly option for sustainably minded consumers, particularly Millennial and Gen Z generations. As of 2019, Millennials have surpassed Baby Boomers as the largest living adult generation with over $1.4 trillion in spending power, making them the new financial powerhouse retailers can’t ignore. As these generations mature into the jewelry buying market, their first serious fine jewelry purchase is often an engagement ring.
According to The Zoe Report, designers continue to see demand rise for antique and vintage engagement rings. Eco-conscious and wary of the traditional, antique and vintage diamonds allow you to offer this demographic the unique and sustainable jewelry they seek. With an excellent shopping experience on such an important life milestone, retailers have the opportunity to turn these new buyers into lifelong collectors.
While venturing into an unknown market may seem daunting, a trusted partner in the estate industry can make this department a seamless, lucrative and attractive addition to your store. Windsor Jewelers, Inc. has a team of dedicated, experienced account executives who offer top tier customer service and curated assortments tailored to your needs. Increase your profit margins, generate traffic, and attract new customers by leveraging the inventory and expertise of Windsor Jewelers, Inc.
New York-based Windsor Jewelers, Inc. is located at 551 Fifth Avenue in New York City. Contact Windsor Jewelers, Inc. today at 212-262-0500 or info@windsorjewelers.com to add an estate assortment at your store.
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