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A digital version of the financial benchmarking tool is now available to order.
New York—Jewelers of America and Jewelers Board of Trade have released the 2019 Retail Jewelers Benchmarking Study.
The organizations collected data for the financial benchmarking tool from retail jewelers across the U.S. using an online survey platform.
They sent the survey to retailers in different operational capacities ranging from independents to multi-store companies.
The survey featured 350 questions across six different areas of business: sales details per store, merchandise and services; operation and staffing; e-commerce and social media; budget and expenses; key performance indicators per square foot and per full-time employees.
The study is based on 2018 financial information.
Retailers can use the data to measure how their profitability, productivity and financial performance compares to industry peers, identify strengths and weaknesses, and make informed decisions to improve profitability.
“Benchmarking is a vital business tool. We were thrilled to work with Jewelers of America to bring back a comprehensive survey that focuses exclusively on retail jewelers,” JBT President Erich Jacobs, JBT President said.
An electronic version of the study is available for $295.
The 2019 Retail Jewelers Benchmarking Study can be ordered at Jewelers.org or by contacting Jewelers of America’s Member Services department at 800-223-0673 or members@jewelers.org.
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