The 2014 Jewelers of America Cost of Doing Business Report digs deep into the 2013 sales performance of jewelry firms by various channels and data points so that jewelers can benchmark their own data against the medians of similar type stores. Our previous infographic revealed overall 2013 jewelry sales. Here we break out the 2013 sales by store space and store staff.(click the image to see full view).
The median total floorspace for a jewelry firm was 2,500 sq.ft. in 2014. Of that space 65% was dedciated to selling and 34.8% was dedicated to non-selling, like storage, staff areas, etc. Jewelers made a median of $645 sales per square foot. Check your own data, if you track below this it's time to think about more efficient ways to maximize your sales space.
The 2014 Cost of Doing Business Report continues to reveal good news. Hiring is up (with a median of 7.7 full time employees per jeweler). Even better, sales per full time employee were up 2% $240,996 in 2014 versus $234,521 in 2013. The Report constantly reminds us that little improvements make a big difference is sales and profits. This 2% increase in sales per employee, most likely contributed to the 16% growth in sales overall (6.5% in 2014 versus 5.4% in 2013). Click here to get your own copy of the 2014 Cost of Doing Business Report.