Attitudes, including those of consumers, have definitely improved since the start of 2010. But while things appear to be improving, but there are also indicators (like the jobs and housing markets) that we’re not quite out of the woods yet. That’s why it’s important to check the temperature of your business, especially as you look ahead to the second half of the year and the critical holiday season.
Some things to keep in mind as you look at your business today:
- Compare and contrast: Look at how your business is doing month-to-month this year versus last year. Have things improved as much as you expected? Are you disappointed? In addition to the economy, think about how other changes to your business (like staff or product) may be impacting your results.
- Consider your goals for the year: If you’re behind the goals or projects you’ve set for the year, take a hard look and prioritize what needs to be done.
- Stay informed: Keep an eye on trends and issues that could impact the jewelry industry in the fourth quarter. Jewelers of America members can gain insight from the latest Jewelry Trends Report from Jewelers of America's in-house experts. Also stay abreast of industry news.
- Watch your inventory: Stay aware of the winners and the duds, so you can adjust your product mix as needed.
Comments