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U.S. Retail
By Lara Ewen
The annual JCK/Luxury/Couture shows in Las Vegas are, combined, the biggest event of the U.S. buying season for many retailers. This year, JCK reported strong attendance and retailers who went to the shows were for the most part actively buying. Although some complained about a flat, weak first half of 2014, most blamed the tough winter and were hopeful that a fresh crop of inventory would bring customers in during the remaining months of the year.
Store owners and buyers were largely pleased with this year’s Vegas offerings. Gary Gordon, of Samuel Gordon Jewelers in Oklahoma City, goes to JCK every year and said, “There is nothing I don’t like about going to the shows. It’s hard work, but it’s also very exhilarating. Everything is there that is essential, new and important. It’s relationship building at its best.”
Gordon, who was at JCK “to meet with our existing designers to beef up our selection for late summer, fall and Christmas, and also to search for new product,” said that over the years, his reasons for going to the shows have changed. “When I was younger, I went for the social events,” he said. “Then I went for the seminars. Now, later in life, it’s the buying sessions themselves. At the end of the day, that’s what is really important.”
For Tyler Nogai, owner of Arthur’s Jewelers in St. Paul, Minnesota, going to Las Vegas was mainly about looking for something new. Nogai, who prefers JCK to other shows for its plethora of products, said, “We go to JCK to see the latest designs and to see trends. I like seeing the new designs with my current vendors and seeing new designs with new vendors. I always look for changes, because you can’t stay status quo forever.”
While buying and trend spotting are often part of a trade show trip, another reason to go is simply to have that all-important face time with industry contacts. “I want to see my vendors, and I want to let people know I’m here,” said Judith Arnell, owner of Judith Arnell Jewelers, with stores in Portland, Oregon, and Chicago, Illinois. “Also, there were technology and displays that I wanted to see, and that I don’t get to see more than once a year. This year, I wasn’t really buying because I have a ton of stock, but I like to see what’s available. And I like to go to the classes. That’s probably the number-one reason I go to the shows. I try to take as many classes as I can in a day.”
Some store owners, however, do not feel the need to go to JCK. “We haven’t been to the Vegas show since 2010,” said Mindi Robuck, co-owner of Michael’s Jewelers in Anchorage, Alaska. “We don’t have any employees, so we have to close our store to go. Instead, we fine-tuned our store and weeded out certain lines that sell online or that have their own stores. We want to have an exclusive factor because Anchorage is small. So we don’t need to go to the show. Vegas was a great show — we loved Luxury — and Tucson is fun to go to. But all the vendors I want to see come up here.”
Ken Stein, owner of Bensons Jewelers in Washington, D.C., has also chosen not to attend the Vegas shows. “These days, we’re going to the Prime Jewelry Shows instead,” he said. “Vegas is just too big.”
With the major buying event of the year out of the way, jewelers were waiting to see what the rest of 2014 would bring. Gordon said business for the first three months of this year was flat, but then it went up. “When business is mediocre, it almost always gets better,” he said. “So my outlook is positive. We see an upward trend now.”
Business up North has also been good. “We’re probably up 25 percent over last year, and last year was a good year,” said Robuck. “We keep our focus on our customers, and we only carry high end. We never carried silver. There’s enough low-grade merchandise out there. So we’re carrying higher-end product, and people get excited to come in and purchase something. Hopefully, we will continue on the same path.”
Nogai saw a rough start to the year, but is now feeling hopeful. “We’re even with 2013,” he said. “Business has been steady, but that weather in January was hard. Still, it’ll be interesting to see. We’re bringing in some new lines and I hope that helps for the rest of the year. I’m cautiously optimistic.”
Article from the Rapaport Magazine - July 2014. To subscribe click here.
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