Saturday, February 4, 2017

Evolution and Survival of the Fittest

So a guy I tend to listen to shared with me a slice of reality that I suspect a lot of independent reps and reps looking for new gigs probably are not sharing with their "employers to be".  And that is that per the Jewelers Board of Trade, 1,669 business in the jewelry segment closed in 2016.  Oh, and that is just here in the States.

Let's take a moment and let that sink in.

If we divide that number by 12 months, that means that 139 per month.

If we divide by 52 weeks?  Slightly more than 32 per week.

If we divide by 365 days?  4.57 per day.

If it hasn't become clear yet, it should be starting to.  The old way of buying and selling jewelry and watches has changed.  Moreover, the number of potential outlets in the traditional channels (watch and jewelry stores) is continuing to contract as stores close up and disappear like available seats in a game of musical chairs.

For brands thinking about coming in and fighting it out in this gladiator's ring, keep in mind that you will be going toe to toe with some very strong, very wealthy companies who have far more money to burn than you to get their product into the dwindling number of watch and jewelry stores.  And even if you do get in, it does not guarantee that you will sell through.

Maybe, just maybe it is time to seriously consider a different approach?

You know where to reach me -

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