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On Paying Jewelers Appropriately

Jewelers bring competitive advantage to retail storesDavid Geller, 14th generation jeweler, author of the Geller Blue Book, and expert on jewelry retail, wrote an open letter to the jewelry industry that is a must-read for all of us.

Published on InStoreMag.com, the letter expresses why it is important to pay jewelers what they are worth, and how the jewelry store can (should!) benefit from that worth by building brand value. You can read the letter here.

At a time when consumer interests are clearly shifting to products that provide customization and offer a sense of individual identity, jewelry stores with custom offerings stand an excellent chance of attracting a new clientele. At the same time, it’s easier than ever for a talented artisan to strike out on his or her own, using the power of the internet for marketing and operational systems, and taking advantage of the affordability of tools and equipment once too expensive for start-ups.

Jewelry retail stores can embrace the jewelers and pay them well to bring them into their businesses, or they can compete against them in an increasingly disrupted jewelry market. Store owners who see the truth in this will surely benefit.

I encourage you to read Mr. Geller’s letter. This is something that has needed to be said, and more important, needs to be heard.

Andrea Hill

 


My “Financial Basics for Jewelry Designers” course is now available as an online, self-paced class! Gain financial management skills in a remarkably effective learning environment, with full teacher (that’s me!) support and discussion forums. Interested? Read all about it here: Financial Basics for Jewelry Designers

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