In a year ripe with mixed retailer sentiment about business, the return of JCK Las Vegas to its former property — and a renovated version at that — is putting smiles on the faces of both exhibitors and attendees.
“So many of my jewelry buddies who have not been to the JCK show in years are coming,” declares Cathy Calhoun of Pennsylvania retailer Calhoun Jewelers, hailing the relocation to the Sands Expo & Convention Center. “I’m not going to miss it now — we’re back home!”
The change is looking likely to reinvigorate business activity along with moods. “I feel like the trade will be excited,” says Esther Fortunoff, president of Fortunoff Fine Jewelry in Westbury, New York. “I expect to see a lot of suppliers coming out with new product.”
Calling all shoppers
The climate for trading is decent, according to exhibitors, many of whom are working on ways to help retailers draw more consumers into stores.
Independent designer Julie Romanenko says retailers are questioning her prices less than in the past — perhaps due in part to her new Charming collection, which offers drilled and bailed gems in accessible looks starting at $600 apiece retail. “Every time I post one on Instagram, it sells,” she reports.
Never one to remain idle, luxury jeweler Le Vian plans on debuting “36 original and exclusive new collections that will tie to our trends of the year,” according to CEO Eddie Levian. The company has reduced the number of trends in its annual forecast from 13 to seven, he adds, noting that this will keep the brand’s messaging and products more focused.
Levian, keenly aware of market shifts, cites decreased foot traffic in malls, differing millennial tastes, and a move toward online sales as key marketing considerations for his brand. “Consumers expect a memorable experience when they do go into stores, and ease of use when they buy online.”
Meanwhile, California-based jeweler Tacori has directly tapped into consumer desire by bringing marketing efforts in-house, collaborating with fashion blog Who What Wear, and utilizing social listening. “We listen to what consumers want to tell, and then respond with relevant Tacori stories,” explains CEO Paul Tacorian. For example, when consumers were talking about rubies in the fall of 2018, Tacori’s social media team responded by sharing stories about ruby anniversary bands. A sale at Robbins Brothers — one of the retailers that stocks Tacori products — followed. “Consumers don’t want to go into stores unless they have a reason to go in,” says Tacorian. “So we give them reasons to go to stores. We meet customers where they’re at.”
Business to be had
Like designers, retailers are working hard to capture the attention of customers. Business is out there, but attracting it demands thoughtfulness and fresh ideas.
Kathy Corey, co-owner of Day’s Jewelers, consistently seeks out exclusive products with great stories. Among them is the Northern Star collection, her store’s in-house line of private-label and specially cut diamond jewelry. “We’ll be scouting JCK for opportunities to bring in more interesting items to create new sales,” says Corey, who has eight stores in Maine and New Hampshire.
Calhoun will be expanding on silver offerings and considering watch lines. Her sales last year were flat, but this year looks brighter thanks to changing mind-sets about wearing fine jewelry with daily casual attire. “Jewelry used to top every woman’s wish list. We need to do a better job of promoting it,” she says. “You can wear your fine jewelry with your tattoos and dress-down clothing.”
For other merchants, the price of platinum is a bright spot this year. With a price per ounce nearly equal to white gold, jewelers like Heidi Bergeron-Stanchfield — co-owner of Bergeron Jewelers in Yakima, Washington — and Larion Ayad, who owns Bay Jewelers in Fremont, California, can offer better values. “Platinum is obtainable now,” notes Bergeron-Stanchfield. In wedding jewelry specifically, adds Ayad, “white metals still dominate.”
Repairs and restyling are another source of sales. Both Ayad and Fortunoff say restyling events produce steady income, while average ticket sales of new jewelry have declined.
For Bergeron-Stanchfield, limited store staff means travel to JCK Las Vegas is a challenge, but she does have a shopping list full of rare and colorful gems — tanzanite, opals, sapphires, emeralds and colored diamonds.
Janice Blumberg, co-owner of Be on Park in Winter Park, Florida, concedes that her purchases at the shows this year will be conservative. With sales to date mirroring those in 2018 and a still-healthy 2019 inventory, she’ll be shopping for a few specific finds as opposed to staples. What qualifies? “A Yael Designs one-of-a-kind opal ring, a Spark Creations necklace with emeralds or different colored stones, or a Paraiba tourmaline ring from JB Star — pieces that will add interest and pop to our cases,” she says.
Image: Shutterstock - JCK Las Vegas
Article from the Rapaport Magazine - June 2019. To subscribe click here.