Even with showcases full of shiny baubles, jewelers today don’t have a crystal ball to help them see into the future. The jewelry retail business, to say nothing of the overall economy, has changed radically over the past several years, and those who weathered the recession and its aftermath are emerging into a new reality.
This is the year when established jewelry retailers should evaluate whether all the elements of their business, from store lease to social media footprint, are aligned to best contribute to the success of their store.
As with any important decision, planning for your future is crucial; as a small business owner, it can be hard to step back from the day-to-day concerns of running a store to think about your long-term strategy.
You could be considering relocating or wondering what you’ll do if your children don’t want to step in when you retire. Maybe the thought of committing to the expense of a lease renewal or brand build-out is giving you pause. Perhaps you have an outdated inventory management system that doesn’t reflect the value shoppers (not to mention lenders) expect in today’s market. Or maybe the accelerating pace of technological change has you scrambling to keep up with the demands of mobile, socially networked shoppers who expect to be able to do everything with their smartphones.
Whatever the future holds for you, Wilkerson can help. Beyond liquidation, the company’s dedicated in-house experts know the jewelry business inside and out. Whether you’re laying the groundwork for retirement, planning a moving or closing sale, or preparing to hand over the reins to a new owner (maybe the next generation of your own family), Wilkerson can ease the transition. Start planning for your future today.