b'EDAHNS TAKE2020 WAS A WILD RIDEAffordable Online Courses for Jewelry Sales ProfessionalsTHAT TOLD US A LOTDiamondsColored GemstonesBY EDAHN GOLANBeginning Jewelry SalesAdvanced Jewelry SalesBeginning Jewelry Sales Advanced Jewelry Sales The Colored Gemstone Course The Diamond Course E arly in 2020 it was clear that we werecan be turned into an opportunity. Finally, specialty jewelers accounted for 52 heading into an unusual year.Another finding from the 2021 lists is thatpercent of our estimated $25 billion in jewelry The initial fears of a financialthe average sales per company were downand watch sales, down only slightly from 53 meltdowna sentiment felt among6.8 percent in 2020. It was the non-specialtypercent in 2019. retailers, jewelry manufacturers, andretailers that took a larger hit, recording a 9.4Their staying power in the market provides diamond traders alikeproved to be shortsighted.percent decline.further proof that when consumers really want The picture is not perfect by any means, butThere are two reasons for that.jewelryand put thought into itthey turn to its better than most expected and it reveals someFirst, the drop in average sales per companyjewelry retailers. opportunities previously hidden in the cracks.at specialty jewelers was smaller because sellingThis is a firm foundation for further invest-Total jewelry and watch sales in North Amer- jewelry is what they do; its not a side gig. Whenment in reinforcing the connection between ica by our $100 Million Supersellers declinedconsumers wanted jewelry during the pandemic,consumers and jewelers.6.24 percent year-over-year in 2020, afterthey turned to fine jewelry stores. slipping 2.8% in 2019.BEYOND THE NUMBERSA decline, but not the free fall everyoneAs odd as it may sound, diamond jewelry feared at the onset of the pandemic.provides comfort and reassurance. Specialty jewelry retailers were hit harderBecause of that, it is one of the first items than non-specialty jewelers, with their salesEvery time disaster strikes,consumers rush to buy after a major calamity, down 8.14 percent, compared with the 4.1we seek solace. We find it inbe it a global financial meltdown, as in 2008, percent decline recorded by the non-spe- a massive tragedy like 9/11, or a pandemic cialty jewelers on our list.human connection, and wesuch as COVID-19. Why were specialty jewelers hit harder?seek to reinforce our ties toConsumers buy, prices rise, and order is Fragmentation and lack of expertise.restored in our hamlet. Visit our NEW website DCALearning.org toThe non-specialty jewelers on this listlife, be it via the stability aEvery time disaster strikes, we seek learn more about DCAs enhanced learningare exceptionally large companies with afamily can provide, the joys ofsolace. We find it in human connection, and lot more resources than jewelry chains, andwe seek to reinforce our ties to life, be it via notably more than independents.friendship, the deep emotionalthe stability a family can provide, the joys of platform and interactive Diamond Course. These multi-item retailers did better becausefriendship, the deep emotional connection of ongoing heavy investment in marketing, inconnection of love, or doingof love, or doing what it takes to stay alive. studying the market and learning what impactswhat it takes to stay alive.In this framework, symbolism is a key consumer behavior, and in carefully managingcomponent in expressing our needs and their inventory, to name a few factors.desires. This is where jewelry comes in. While they have an advantage, for special- In some cases, it is the tendril of a plant ty jewelers, their investments spell opportunity.The second reason is that the average priceor piece of string we pick up on a walk and play Multi-item retailers already have charted thepoint of jewelers sales is much higher too. Forwith, making a ring and handing it to a loved one. For over 20 years, every single sales person Ipath forward, made the mistakes, and realignedlow-cost fashion jewelry, consumers turned toOther times, it is an intricate work of gold and their activities. Now specialty jewelers can learnAmazon, department stores, and warehousediamonds made by an artisan, which we use a have hired has taken the courses offered by DCA.from others experience and apply the lessons toclubs. It was often in addition to other purchases,good chunk of our savings to buy. their own business activities.if not an afterthought.Whatever it is, the jewelry industry plays a Theresultsare nothing short ofamazing andSome jewelry companies already are investingJewelry retailers are experts at selling jewelry.pivotal role in peoples lives. It is more than a in marketing, studying the market, and managingThis is an advantage, and jewelers would befinancial opportunity; it is a responsibility. I strongly recommend that jewelry companiestheir inventory, but so much more can be done.smart to leverage that expertise in their market- We should live up to it by investing the very www.DCALearning.org Once again, this is currently a weakness thating and communication with consumers.best we can offer.everywhere take advantage of this offering. (877) 283-5669 - Chuck Kuba, Iowa Diamond info@DCALearning.org NATIONAL JEWELER 19DCA is an affiliate of Jewelers of America.'