Retailer Hall of Fame: The Issues Keeping Jewelers Up at Night

IndependentsOct 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.

Stock image of man with insomnia
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.

“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

 Related stories will be right here … 

“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

The Latest

Lightbox x Roséate Light Wand pendants
Lab-GrownDec 01, 2023
Lightbox Teams Up With Brand Founded by Former Tiffany Exec

The lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.

Lila Moss Calvin Klein campaign
FinancialsDec 01, 2023
Movado Lowers Guidance Again After Q3 Sales Dip

The company said it is facing a “challenging retail environment” but is prepared for the holiday season.

Muzo emerald and argyle pink diamond necklace
CollectionsDec 01, 2023
Piece of the Week: Muzo’s Emerald and Argyle Pink Diamond Necklace

It’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.

Platinum  Guild International Diamond Rings
Brought to you by
If It’s Custom, Make It Platinum

With holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.

Pink Supreme Diamond
AuctionsNov 30, 2023
This Pink Diamond Reigned Supreme in Hong Kong

The 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 Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Claire’s CFO COO Chris Cramer
MajorsNov 30, 2023
Claire’s Hires Former Bath & Body Works Exec as CFO, COO

Chris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.

133 carat yellow diamond
AuctionsNov 30, 2023
Sotheby’s To Auction 133-Carat Yellow Diamond

The 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 Institute

In a world where the sparkle of a gemstone is only as brilliant as the trust behind it, IGI's purpose is truly invaluable.

Diamond development hub in Angola
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.

Holiday shoppers holding bags
SurveysNov 29, 2023
Holiday Shoppers Broke a Record This Weekend, Says NRF

From Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.

Cast StyleBar Nordstrom
MajorsNov 29, 2023
Cast Debuts at Nordstrom, Closes on More VC Funding

The growing company also plans to open more of its own boutiques.

EditorsNov 29, 2023
Warren Buffett on Success, Mistakes and Betting on America

The best quotes from the Oracle of Omaha and his right-hand man Charlie Munger from the 2018 Berkshire Hathaway shareholders meeting.

Finks Jewelers new store
IndependentsNov 28, 2023
Fink’s Jewelers Opens 10th Store

It’s the company’s second location in Tennessee.

Mary Tyler Moore and a pair of Elsa Peretti Bone Cuffs
AuctionsNov 28, 2023
Mary Tyler Moore’s Jewelry Is Up For Auction

You can have this jewelry, why don’t you take it?

Original Miami Beach Antique Show 2024
Events & AwardsNov 28, 2023
The Original Miami Beach Antique Show Is Celebrating 60 Years

Next year’s milestone show will be full of educational programming and collaborations.

De Beers Metamorphosis high jewelry earrings
EditorsNov 27, 2023
10 Tips for Selling Diamonds This Holiday Season

Sales experts and a diamantaire share their best advice on how to send customers home with diamond jewelry.

Platinum Born new collection
CollectionsNov 27, 2023
See the New ‘Platinum Born’ Jewelry

The brand has released five new collections.

Frank Adams Jewelers
IndependentsNov 27, 2023
Frank Adams Jewelers Named ‘Family Business of the Year’

The Albany Business Review recently honored the 100-year-old company.

GIA Dr. John W. Valley
GradingNov 27, 2023
Dr. John W. Valley Retires from GIA Board of Governors

To honor his legacy, GIA has set up a scholarship in his name.

Stock image of police car with its lights on
CrimeNov 22, 2023
JSA Warns of Surge in Attacks on Jewelers on the Road

There have been eight attacks in the last month, spanning from a jewelry store parking lot in Rhode Island to highways in California.

Buddha Mama citrine bangle
TrendsNov 22, 2023
Amanda’s Style File: November Glow

These 15 pieces of jewelry celebrate November babies and the hues of citrine and topaz that reflect the colors of the season.

Columbia Gem House fundraiser
SourcingNov 22, 2023
Columbia Gem House Raises $12K for Wildlife

The money will help a nonprofit rehabilitate sea turtles.

Facet Barcelona factory opening
MajorsNov 22, 2023
Facet Barcelona Opens New Factory in Spain

The jewelry manufacturer said it can now better serve the North American market.

David Yurman holiday campaign
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.

2023 Rock the Jewels Awards winners
Events & AwardsNov 21, 2023
Here Are the Winners of BIJC’s Inaugural ‘Rock the Jewels’ Awards

The organization recognized outstanding industry players at its celebratory event.

Rough diamonds from De Beers Gahcho Kue mine
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.

Smart Age Solutions founder and CEO Emmanuel Raheb
ColumnistsNov 21, 2023
The Smart Lab: Score Big During Football Season With Hulu Advertising

Emmanuel Raheb outlines three reasons why Hulu advertising and football can be a game changer for your jewelry store’s marketing.


This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy