Professional Jeweler Archive: What's Selling in Your Store?

December 2004

Managing/Sales Growth


What's Selling in Your Store?

JA's new Cost of Doing Business survey enables you to compare your sales by product category


If you knew that most jewelers are having success with colored gemstone jewelry, it might influence your buying decisions. Even more so if the country’s most profitable jewelers are among them.

That’s the type of information you will find in the 2004 Cost of Doing Business Survey, sponsored by Jewelers of America and Professional Jeweler. In the survey, JA members share information you can use to compare your financial results and make adjustments where appropriate.

We detailed findings on sales and profitability in previous issues (p. 74 in October, p. 70 in November). This month we look at which products had the biggest sales increases (and decreases). High-profit companies reported the biggest increases in platinum, loose diamond and diamond jewelry sales and appraisal services. Independent high-end jewelers said their biggest increases were in loose diamonds and fashion jewelry. The biggest increases for independent mid-range jewelers: diamond and estate jewelry. Chain stores reported their biggest increases were in fashion jewelry, tabletops, loose diamonds, diamond jewelry and colored gem jewelry. Watches comprised the biggest sales increases for designer/artist/custom jewelers, followed by diamond jewelry and appraisal services.

The 2004 Cost of Doing Business Survey is available to JA member retailers for $19.95 and to non-members for $125. Participants receive a free copy. For information on participating in the next survey or to order the current edition, call JA at (800) 223-0673 or visit www.jewelers.org. You also may order the survey at www.professionaljeweler.com or by using the form on page 62 of this issue.

– by Ren Miller

 
Sales Growth by Product Category
Product High-Profit Companies Independent High-End Independent Mid-Range Designer/
Artist/Custom
Chain Stores
Diamonds +9.5% +12.3% +6.9% +0.9% +7.3%
Diamond Jewelry +8.3% +6.7% +11.9% +12.0% +7.9%
Colored Gem Jewelry +5.2% +0.9% -0.1% +10.6% +7.1%
Watches +5.6% +4.8% +4.8% +48.6% +6.4%
Karat Gold Jewelry +2.1% -4.1% -1.6% -30.8% -0.4%
Cultured Pearls -2.8% -6.7% -2.8% +10.6% +5.2%
Estate Jewelry +6.3% +4.8% +7.8% NA +9.1%
Tabletops -0.6% -1.3% -11.3% +1.3% +10.9%
Appraisals +8.6% +7.4% +3.1% +18.3% +4.7%
All Repairs +4.9% +4.5% +4.6% +2.0% +4.8%
Fashion Jewelry +7.6% +10.9% +1.6% NA +14.8%
Platinum +11.3% +4.5% -1.6% NA NA
Source: Jewelers of America’s 2004 Cost of Doing Business Survey
 

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