BIG News in November
Thoughts from Ann Arnold, BIG's Chief Strategy Officer: Identity Theft can put a cramp in the holiday season! With the holiday's upon us, one thing that sits in the back of everyone's mind is identity theft. We work so hard to make our holiday sales count, that even one bad sale can really spoil that holiday mood. So what can [...]
BIG Newsletter: A Storm is Brewing
By Abe Sherman Around the first week of September, I wrote a rather long article about synthetic diamonds. It had very limited distribution; I only sent it to our Plexus members because I wanted to discuss the subject during our fall Plexus meetings to get a sense of how jewelers were feeling about the subject, and what, if anything, [...]
BIG Tip of the Month 10-7-14
What makes customers go "yuk" and leave your store: Turn-off's Look around as though you are the customer. We are now in our fourth quarter when most retailers do a large percentage of their annual business and the traffic count is much higher than other months of the year. These are some of the top turn-off's to the customers. Take [...]
BIG Tip of the Month 9-16-14
When is your store the most vulnerable to theft? When the safe is opened and the merchandise has not yet been set and locked in the showcases (during store opening procedures). The same applies to your closing procedures. Keep Doors Locked - During opening and closing processes. Do not leave door unlocked because an employee "will be there shortly". Always [...]
BIG News in September
Thoughts from Ann Arnold, BIG's Chief Strategy Officer We constantly hear from our clients and colleagues that this industry has to change. For those that do not know me, prior to joining the BIG team earlier this year, my family and I owned Lieberfarb bridal manufacturing company for over 40 years. As many others in this industry, I grew up [...]
A Method of Determining Inventory Levels for Retail Jewelers
It’s important to understand the nature of budgeting inventory using a formula. I have attempted in this article to explain an approach for determining inventory levels that can be used by any business, regardless of its makeup. However, using a goal, such as GMROI to arrive at an inventory budget does not address the myriad strategic decisions that should [...]