Recession-Proof Your Business With These 5 Expert Tips

Prepare to weather any fiscal storm with these time-tested jewelry retail strategies With record low unemployment, solid real wage growth, and a booming stock market, many jewelers say they’re enjoying the most robust business environment they’ve seen in a generation. “In 2019, we had the strongest year in our history,” says Sarah Person, owner and president of 40-year-old Exclusively Diamonds in Mankato, Minn. “It’s allowed us to buy and move into a new 7,300-square-foot store, giving us more of a regional footprint.” Greg Fakier, third-generation owner of Fakier ­Jewelers in Houma, La., says much the same thing. “This market has let us build an extensive selection of product people can touch and feel,” he says. “That’s been a real good thing. We had a 12% increase [in sales] for December.” Top economists, however, including those at the Federal Open Market

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