Analysis: The State of the Majors

(The National Jeweler) - Trying to get all the pieces in place to make a retail operation run smoothly these days is like solving a Rubik’s cube. It’s difficult, time consuming and involves a lot of moving parts. But, in the end, it’s really satisfying when you get everything to line up. The question is, though, which retailers are best at putting all the pieces of the puzzle in place today? Is it the biggest players, with their enormous marketing budgets, money to spend on the best social media talent, and numerous physical touchpoints? Is it the online-only retailers, with their 24/7 availability, lower prices (and, in some cases, lack of sales tax) and fast and free delivery, all made possible by lower overhead costs? Or, is it the mom-and-pop stores that can offer more personalized service and, in many cases, a better in-store experience? Let’s attempt to answer these questions by first looking at what the 2017 State of the Majors lists reveal and, then, what the players in the industry have to say about the current state of jewelry retail.