6-6-2019
A whopping 86 percent of the jewellers are optimistic about business the year ahead based on the JCK Jewelry Industry Confidence Index (JICI), almost equal to last year’s 88.
67 percent respondents found the online competition is their business challenges, followed by overall economic climate at 56 percent then 50 percent cited a lack of general consumer demand and 40 percent went to a lack of millennial demand. 33 percent, a 10 percent rise over last year, was pessimistic about the overall American economy.
To deal with the online competition, over 70 percent said social media will play a greater role in their marketing and forecast that social media marketing would be the most successful business practice in 2019. Facebook and Instagram are both crucial battlefields as they were the most popular for customer engagement which tied at 74 percent.
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