Focus on Fashion

Merchandising management includes not only inventory selection and pricing but also marketing and sales. This column will discuss how to integrate all the elements of merchandising to improve business performance. This month we address a key element that many jewelers ignore—fashion. Jewelry stores are in the fashion business. Fashion is based on popular styles and designs—the collective attitudes and opinions of customers and potential customers. (Younger and single consumers show more interest in fashion innovations.) Even emotional purchases such as bridal jewelry are subject to fashion trends. The tough part is learning how to prepare for the inevitable changes in fashion, style, and design; how to anticipate the rise, peak, and decline of a trend; and how changing preferences will affect demand for current inventory (and current pricing). You must understand the fashion feat

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