Affluence is a popular topic among industry thought leaders. Those that are making more than $100,000 annually have the resources to spend more and are looking for high quality products.
While it may take quite a few years for individuals to accumulate these kinds of earnings, some young adults have already reached this segment of the population. As this group continues to grow and provides fuel for the entire jewelry market, many jewelers have found themselves asking:
"How can I improve my marketing to affluent millennials?"
If you’re like most jewelers, the start of a new year doesn’t mean vacation time quite yet, but rather time to take inventory.
With many former jewelers on the JM staff, we understand your pain. Inventory record keeping is rarely looked forward to. Consider that you’ll be doing it directly after months of preparing for and executing holiday sales, it starts to seem like an exceptionally daunting task.
However, doing it is vital for your business operations and if you take a few moments to prepare, the process will run much more smoothly.
An increase in customer traffic during the holidays is a beautiful thing. Imagine for a second that we’re no longer in the digital age – you can practically hear the ‘cha-ching’ of old-school cash registers.
But as a savvy veteran of the jewelry industry, do the larger crowds also make you nervous?
Jewelry wholesale and manufacturing businesses may think they don’t need umbrella liability insurance to protect them against high-dollar lawsuits. After all, non-retail jewelry businesses have much less worry about customer foot traffic in their business facility, so their liability risks ought to be much less, right?
Where do they get some of those odd code words and phrases that they use in the spy movies?
Jewelers Mutual advises jewelry businesses to adopt a secret code word or phrase that store staff may use to alert each other of suspicious activity. However, we advise against borrowing a ridiculous phrase from a B movie.
