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| Meredith Marks |
The 4Cs are not the only things that make a piece of diamond jewelry a sales winner. In an ongoing series, Rapaport Magazine explores the “3Ws” — what’s selling, what’s not and why — by going straight to the people who really know — jewelry retailers. Each month, we ask a sampling of retailers to comment on the important issues that are facing the industry today. Here is what they had to say when asked: “Did you go to the Vegas shows? Was it a good experience?”
“We did go to JCK — we were nominated for retail jewelry store of the year — as well as Luxury and the antique watch show. We had a wonderful experience. I went specifically to extend some of my lines — we carry over 20 — and meet with all of my reps to discuss what’s coming out for the holiday season. I also went to pick up three new lines that I had earmarked and to see some of the new designers who were previewing for the first time. I was pleased to see some of the new up-and-coming designers, young companies making everything in America, who are very geared to the vintage fashion line.”
“We did go and we had an amazing time and saw many new vendors as well as our tried and true. It was perfect. We went to JCK and to Couture and to the Continental Buying Group (CBG). It seemed that the show was busy and it was good.
“We hit some new vendors and selected a few new up-and-coming things as well as new packaging. We were selective of what we targeted this year. We knew what we wanted to fill the holes in our inventory and for the holidays and we did branch out a little more. But we didn’t just buy to buy.”
“I did not attend. We have attended in the past. I think that the jewelry industry has been slow in realizing that we’re businesses and not museums. And it’s not all about buying a bunch of new products. I think people go to those shows and they buy too much and they don’t think about it very strategically. In the end, I would probably overbuy — it would be hard not to — and make bad choices that I’ve learned are not always easy to get out of. If you want to go on a diet, you don’t go to a chocolate festival.”
“I did attend the Continental Buying Group, as well as Luxury and JCK. It was probably the most positive show I’ve been to. We found more pieces this year. I think we’re just getting to know the show better, which certainly makes our experience a lot easier.
“We have inventory reports so we know what we’re missing and what price ranges so we go with that list in mind to fill in the holes. We saw a lot of rose gold. We’ve always had some rose gold and done well, but this year we really dove in more so — engagement ring, pendant, earrings, bracelet, whatever. And we saw the combination of rose gold and yellow gold for the first time and that’s beautiful.
“We are getting into Paraiba, a beautiful blue gemstone originally found in Brazil, and now it’s been found in Africa. We were able to educate ourselves about the quality and pricing at the show. We also have really started zeroing in on colored diamonds, not just for the jewelry aspect but for the investment — the reds and the greens. We were able to find people representing the stones. Now, we’re going to take that knowledge to some clients who might like that on the investment side.”
“I thought the Vegas show was a lot of fun this year. Everyone seemed to be upbeat. I gave a presentation at JCK. I thought the seminars were wonderful. I like the education. And the camaraderie, seeing people you don’t get to see except out there. I had a few new things that I wanted to check out and I did pick up a few new Italian fashion lines that were different. It wasn’t all with Christmas in mind. I also wanted to look at new displays and new packaging for my store and to just revitalize myself.
“There was a lot of rose gold. Even though it doesn’t sell that well for me here, I see that it has picked up. I saw a lot of color and larger pieces — larger neckwear and larger earrings. I did some business with Erica Courtney, bigger designer earrings.
“I also went to the antique show. I think that’s a hugely attended show and very well run and easy to maneuver. There were a lot of signed, unusual pieces.”
“I did go and it went well. I went to all the shows, except the estate show. We went there with an open-to-buy and to fill in goods and lastly, we went there to find and establish new brands. I realized this year that this was the most difficult show that I had to work. It was all over the place. I’m not a big fan of Las Vegas but the show is a great time to see and be seen.
“We were buying for fill-in and for the holidays; better than 70 percent was for the holidays. We did find a couple of interesting lines that I think are going to be on the map. There was one fashion jewelry line I think is going to be a winner. It’s low-end stuff but it’s good for traffic. You have to do something to bring in traffic because without it you don’t have the opportunity to sell other things. And of course, we also bought higher-end brands.”
“We did attend. This is a family business and I work with my parents, David and Olivia, and we all have our own buying sectors. We went to all the shows; we found them very beneficial. We book appointments with all of our vendors ahead of time. It’s about filling in pieces where needed and looking at new designs and seeing when products will be available. It’s about having the conversations with the various vendors and coming to terms so we can continue to make the right decisions. Emotionally, I might love a piece but if it’s just going to sit in the case and not sell…it’s about understanding the various markets.”Article from the Rapaport Magazine - July 2014. To subscribe click here.