Jewelry Retailers Can Thrive In a Tough World

Success in today's market requires attention to balancing inventory levels,evaluating the effectiveness of marketing,adapting to fragmenting consumer tastes, identifying and communicating with current and potential customers and differentiating yourself from competitors Jewelers across the country face a difficult environment not expected to change anytime soon. Here are some of the challenges and responses that small and moderate-sized retailers can cost-effectively implement: Wary consumers concerned about excessive spending. Jewelers must more closely match products and pricing to customer needs. Industry overcapacity (too many stores relative to the population) and competition from non-store retailers results in cutthroat price competition. Jewelers must improve margins by differentiating on other variables, especially if they aren't the low-cost compe
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