Know It All: March 2012

BY THE INSTORE TEAM

Published in the March 2012 issue

    1. Number of jewelry businesses falls
    2. Independents are top for diamonds
    3. Apple leads in sales per square foot
    4. Police to check pandora forecast
    5. JSA : Jewelry crimes jumped in 2011
    6. New tax form issued for online sales
    7. NO BIDS FOR ‘EMERALD’
    8. Search site vows to beat ‘Google Logjam’
    9. A business card to awe vip clients
    10. Great diamond mystery possibly solved

01 Jewelers Board of Trade statistics show the overall number of U.S. jewelry businesses fell 1.3 percent in 2011 to 28,706 (21,574 retailers, 4,091 wholesalers, and 3,041 manufacturers). Source: JCK, 2/2/12

02 The sales mix of specialty jewelers is narrower than previously thought with independents dominating the market for diamond jewelry and fancy watches, while other merchants — typically multiline discounters — sell more colored gem, pearl, and gold jewelry, according to the Census Bureau’s Economic Census. Source: IDEX, 1/8/12

03Apple stores generate $5,626 in revenue per square foot, which is more than any other retailer in the world. In second place was a jeweler, Tiffany & Co, at $2,974. Source: Bloomberg, 2/2/12

04Denmark’s financial agency has called in police to probe Pandora’s belated announcement last year that it wouldn’t meet its targets. Source: Reuters, 1/11/12

05The number of jewelry-crime cases last year surged to 1,459 from 1,352 in 2010, according to a preliminary Jewelers’ Security Alliance report. Six jewelers were killed, up from four in 2010. Source: JSA, 1/9/12

06Starting this year, business owners will begin getting new tax forms intended to keep them from hiding online income, such as that from sales via eBay, Etsy or their own websites. The form, called 1099-K, will be issued by your credit-card and onlinepayment processors. Source: Businessweek, 1/24/12

07 An 11.5 kg emerald passed at auction without a single bid after its coowner was arrested on unrelated fraud charges. Regan Reaney said the stone had been found in Brazil and cut in India. Source: Toronto Star, 1/29/12

08Industry Internet company Verichannel has launched a consumer version of its search engine. Called gemfling.com, it is intended to help retailers and brands that struggle to make it on to Google’s first pages. Source: Rapaport Tradewire, 1/13/12

09A London firm has released a line of diamond-studded business cards that sell for $1,500 apiece. The Black Astrum Signature Cards are sold in packs of 25, 50 or 100. Source: Time.com, 1/12/12

10 Scientists may have solved one of the great mysteries of diamonds: Why they aren’t destroyed during the trip to Earth’s surface. Experiments suggest highly pressurized carbon dioxide helps shoot the diamonds up like a champagne cork, so fast they arrive unscathed. Source: Sciencemag. org, January


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