Jeweller - August 2022

More documents

Recommendations

Info

News Internal Business Development | FEATURE xxx Xxxx Review your past three months of sales and look at the markup achieved on F-Fast sellers, fast sellers and old product. If you have access to group comparison data you should be able to see how you compare to your group average in your KPI report. Are you behind or ahead of it? Look at your three-year comparison – is your markup static or slipping? 1/2 PG V ADVERTISEMENT Bear Grylls Survival 3720 Sea series Now may be the right time to review what markup that you need to achieve to run your business. That is a key metric that you should review at least every six months as the market and trading conditions are continually changing around you. It is critical that you know, at all times, when you are above or below that markup figure. Reviewing that information at the end of the financial year is too late to do anything about it. Knowing this, you can project sales targets that give you the money required to run your business. You can also formulate and monitor the pricing of stock as it goes into your system. The breadth and importance of this topic cannot be covered in these few words but it is a starting point to driving this area of your business forward. Above all don’t let your own attitude be the handbrake on developing your mark up. On average, customers will pay more for products and services than business owners believes. xxxx Give your customers the chance to prove it! Xxxx Old product I mentioned above that it was best to focus on parts of the business with which we could have complete control. Most retailers understand this when it comes to markup. You can choose what price you put on an item, and what price you want to sell it for. For many, however, old product is viewed in a different light. Sadly, many retailers don’t see old product as something they can control. After all, they argue, they can’t force customers to make purchases at the end of the day. What these retailers neglect to understand is the extent to which a passive approach causes old product to age. You have a choice in how long an item stays within your inventory. Let’s test this theory. Find a sample of old items from one department, mark them down to $1 each and put them in the front window. Let me know what’s left at the end of the week. Reading this it’s easy to think I’m being a little flippant and I don’t recommend you take every item that hasn’t sold in the last twelve months and give it away. (02) 9417 0177 | www.dgau.com.au
Bloom with us Why Showcase <strong>Jeweller</strong>s? Our members enjoy a wide range of benefits, including but not limited to: • Generous supplier discounts • No joining fees • Access to exclusive brand offerings • Market-leading business systems • In house marketing agency • Experienced head office staff • Diamond department with extensive range of loose diamonds • A community of like minded people Plus many more services and resources focussed on supporting the independent jewellery business owner. Want to learn more? Contact us to receive a copy of our comprehensive services list to see all the ways the Showcase <strong>Jeweller</strong>s Buying Group can support your business. Scan the QR code or email: enquiries@jimaco.com
Page 1 and 2: VOICE OF THE AUSTRALIAN JEWELLERY I
Page 3 and 4: Exquisite Argyle pink diamonds, exc
Page 5 and 6: Solid Gold Collection Become a stoc
Page 7 and 8: Helping you shine yesterday, today
Page 9: Info@LJWestDiamonds.com | www.LJWes
Page 12 and 13: THE COMPLETE PACKAGE Supporting Aus
Page 16 and 17: T H E W A T E R C H A M P I O N The
Page 18 and 19: Dedicated to innovating new brands,
Page 20: Upfront #Instagram hashtags to foll
Page 23 and 24: Natural Certified Diamonds | Natura
Page 25 and 26: News June jewellery sales achieve m
Page 27 and 28: Customers want everything fast and
Page 30 and 31: News Millions in jewellery mysterio
Page 32 and 33: News Indian jeweller seizes world r
Page 34 and 35: News Anniversary celebration: Refle
Page 36 and 37: 10 Years Ago Time Machine: August 2
Page 38 and 39: Behind every gemstone, there is a f
Page 40 and 41: AUGUST 27 - 29, 2022 ICC Sydney, Da
Page 42 and 43: S E CUR E E A RRI NG B ACK S Retail
Page 44 and 45: Retail Pricing Guide | FEATURE Loss
Page 46 and 47: Retail Pricing Guide | FEATURE 4.55
Page 48 and 49: www.centrestone.com.au CENTRESTONE
Page 52 and 53: Internal Business Development | FEA
Page 54 and 55: Internal Business Development | FEA
Page 56 and 57: WORLD RANKINGS OF JEWELLERY INDUSTR
Page 59 and 60: INTERNATIONAL JEWELLERY FAIR Show &
Page 61 and 62: THE WORLD’S FIRST DIGITAL MARKETP
Page 63 and 64: Timesupply jewellery + watches p +6
Page 66 and 67: EST. 1981 Show & Tell | INTERNATION
Page 68 and 69: Show & Tell | INTERNATIONAL JEWELLE
Page 72: Show & Tell | INTERNATIONAL JEWELLE
Page 86: Show & Tell | INTERNATIONAL JEWELLE
Page 89 and 90: Made in Italy . Made in Italy . BOR
Page 91 and 92: Australia is enriched with amazing
Page 93 and 94: TIME TO FUTURE PLAN... IT’S ALL H
Page 95 and 96: FEATURE | Diamond Industry Update b
Page 97 and 98: Grown Diamonds See THE WORLD’S BI
Page 99 and 100: TABLE A: STIMULUS PACKAGES RELEASED
Page 101 and 102:
FEATURE | Diamond Industry Update T
Page 103 and 104:
ETHICALLY MINED LGD producers also
Page 105 and 106:
Business Strategy need to feel a se
Page 107 and 108:
BUSINESS Management Five human beha
Page 109 and 110:
BUSINESS Logged On Adapt or die! St
Page 112 and 113:
OPINION Soapbox Chasing the pink pa
Page 114:
Australia is enriched with amazing
show all

Jeweller - August 2022

Create successful ePaper yourself

Delete template?

Save as template?