IndependentsOct 23, 2023
Retailer Hall of Fame 2023: Stan and Ingrid RaznyIndependentsOct 31, 2023
Retailer Hall of Fame: The Issues Keeping Jewelers Up at Night
From customers being robbed to post-pandemic trends, National Jeweler polled jewelers to find out what’s worrying them most.
Editor’s Note: This story first appeared in the print edition of the 2023 Retailer Hall of Fame. Click here to see the full issue.
For the “Final Thoughts” feature in the 2023 Retailer Hall of Fame issue, National Jeweler polled past inductees to find out what about the jewelry business currently has them wide awake at 3 a.m.
Here’s what they had to say.
For the “Final Thoughts” feature in the 2023 Retailer Hall of Fame issue, National Jeweler polled past inductees to find out what about the jewelry business currently has them wide awake at 3 a.m.
Here’s what they had to say.
“The alarming increase in attacks on shoppers in the mall, indoor or out, and being followed while driving home, then attacked. It’s happening more and more [and it’s] very concerning that clients will stop buying due to fear.”
— Lawrence Bock, Bachendorf’s Jewelers
“There’s been a trend of higher-price-point sales, which of course sounds like a great problem to have; the concern is that it’s been coupled with lower unit sales and fewer transactions overall. Thinking about how this will play out in the future should higher-ticket sales start to slip is on my mind quite a bit.”
— Christina Gandia Gambale, Greenwich St. Jewelers
“The access to view things online, yes, it’s wonderful, it’s great for learning and inspiration and for people who don’t have great places to see things. But it does take away the, ‘Oh my God, I’ve never seen anything like that before ever,’ [reaction] in person when you go to see it.”
— Lauren Kulchinsky Levison, Mayfair Rocks
“Highly sought, premium product remains [hard to get] and the scarcity of experienced goldsmiths is being felt across the industry. We are not losing sleep over it … [but] we may toss and turn a little trying to figure out how to be first in line when new items become available.”
— Larry Pelzel, Neiman Marcus
“The most important challenge for our business is the utilization of technology to personalize and enhance our customer’s experience without being intrusive or annoying.”
— Jeff Corey, Day’s Jewelers
“As technology is evolving so quickly with new platforms every few months, we continue to think about how to ensure our current in-store culture translates to these new ways of communicating. Reinhold Jewelers is rooted in relationships, creating an intimacy between ourselves, our clients, and our designers and we want to ensure this core piece of our identity is not lost in the digital world.”
— Marie Helene Reinhold, Reinhold Jewelers
“During the past several years, COVID has caused some of the most dramatic lifestyle changes I’ve ever witnessed. Initially, we spent little on travel, big parties and the accessories needed for them. People had lots of unspent income, which led to a boom in sales. We are now [experiencing] a slowdown in sales, with the exception of luxury watches. This has left me to constantly ponder the issues of the level of inventory needed as well as matching it to how people are living their lives. The question remains as to what the lifestyles of the consumers will look like in the near future and how to remain relevant to them.”
— Jim Rosenheim, Tiny Jewel Box
More on Independents
The Latest
Lab-GrownDec 01, 2023
Lightbox Teams Up With Brand Founded by Former Tiffany ExecThe lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.
FinancialsDec 01, 2023
Movado Lowers Guidance Again After Q3 Sales DipThe company said it is facing a “challenging retail environment” but is prepared for the holiday season.
CollectionsDec 01, 2023
Piece of the Week: Muzo’s Emerald and Argyle Pink Diamond NecklaceIt’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.
Brought to you by
If It’s Custom, Make It PlatinumWith holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.
AuctionsNov 30, 2023
This Pink Diamond Reigned Supreme in Hong KongThe 15.48-carat fancy intense “Pink Supreme” topped Christie’s fall jewelry auction in Asia, while a Patek Philippe led the watch sale.
Weekly QuizNov 30, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
MajorsNov 30, 2023
Claire’s Hires Former Bath & Body Works Exec as CFO, COOChris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.
AuctionsNov 30, 2023
Sotheby’s To Auction 133-Carat Yellow DiamondThe stone headlining the upcoming sale could fetch up to $5 million.
Brought to you by
Did You Know? The Vital Role of IGI: The International Gemological InstituteIn a world where the sparkle of a gemstone is only as brilliant as the trust behind it, IGI's purpose is truly invaluable.
SourcingNov 29, 2023
Largest New Diamond Mine of the Decade Coming Online in Angola The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
SurveysNov 29, 2023
Holiday Shoppers Broke a Record This Weekend, Says NRFFrom Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.
MajorsNov 29, 2023
Cast Debuts at Nordstrom, Closes on More VC FundingThe growing company also plans to open more of its own boutiques.
EditorsNov 29, 2023
Warren Buffett on Success, Mistakes and Betting on AmericaThe best quotes from the Oracle of Omaha and his right-hand man Charlie Munger from the 2018 Berkshire Hathaway shareholders meeting.
IndependentsNov 28, 2023
Fink’s Jewelers Opens 10th StoreIt’s the company’s second location in Tennessee.
AuctionsNov 28, 2023
Mary Tyler Moore’s Jewelry Is Up For Auction You can have this jewelry, why don’t you take it?
Events & AwardsNov 28, 2023
The Original Miami Beach Antique Show Is Celebrating 60 YearsNext year’s milestone show will be full of educational programming and collaborations.
EditorsNov 27, 2023
10 Tips for Selling Diamonds This Holiday SeasonSales experts and a diamantaire share their best advice on how to send customers home with diamond jewelry.
CollectionsNov 27, 2023
See the New ‘Platinum Born’ JewelryThe brand has released five new collections.
IndependentsNov 27, 2023
Frank Adams Jewelers Named ‘Family Business of the Year’The Albany Business Review recently honored the 100-year-old company.
GradingNov 27, 2023
Dr. John W. Valley Retires from GIA Board of GovernorsTo honor his legacy, GIA has set up a scholarship in his name.
CrimeNov 22, 2023
JSA Warns of Surge in Attacks on Jewelers on the RoadThere have been eight attacks in the last month, spanning from a jewelry store parking lot in Rhode Island to highways in California.
TrendsNov 22, 2023
Amanda’s Style File: November GlowThese 15 pieces of jewelry celebrate November babies and the hues of citrine and topaz that reflect the colors of the season.
SourcingNov 22, 2023
Columbia Gem House Raises $12K for WildlifeThe money will help a nonprofit rehabilitate sea turtles.
MajorsNov 22, 2023
Facet Barcelona Opens New Factory in SpainThe jewelry manufacturer said it can now better serve the North American market.
TechnologyNov 21, 2023
See David Yurman’s New High-Tech Holiday Campaign The jewelry brand takes viewers through a virtual winter wonderland set in New York City.
Events & AwardsNov 21, 2023
Here Are the Winners of BIJC’s Inaugural ‘Rock the Jewels’ AwardsThe organization recognized outstanding industry players at its celebratory event.
SourcingNov 21, 2023
De Beers’ Rough Diamond Sales Sink to $80M India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.
ColumnistsNov 21, 2023
The Smart Lab: Score Big During Football Season With Hulu AdvertisingEmmanuel Raheb outlines three reasons why Hulu advertising and football can be a game changer for your jewelry store’s marketing.
