Yaron Bart

Small changes, big results! 💵 The 1% improvement strategy for jewelry businesses. Did you know tiny tweaks can lead to major success? Our Co-founder and President, David Brown, was recently published in INSTORE Magazine highlighting this very concept! The article, titled "How 1 Percent Improvement Can Add Up to Big Profits," explores the fascinating story of the Great Britain cycling team. Facing a history of underwhelming performance, they brought in a new director who focused on making 1% improvements across every aspect of their training and preparation. The results? Within a few years, they were dominating the cycling world! 🚴 This story perfectly illustrates the power of marginal gains. In the jewelry industry, we often concentrate on big sales figures or individual staff performance. But what about the smaller details? 👉 Are your store hours convenient for customers? 👉 Do you offer all the popular payment methods? 👉 Is your lighting optimized for showcasing your products? These seemingly minor factors can significantly impact your bottom line. The good news? You can easily identify these areas for improvement! Data is your friend. Track key metrics, analyze marketing campaigns and get feedback from your staff. Read the full article at https://bit.ly/3RCYvZd and let us know in the comments below — what are some ways you'll be implementing the 1% improvement strategy in your business? #TheEdgeRetailAcademy #JewelryIndustry #RetailConsulting #INSTORE #Feature

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We are on the lookout for experts in jewelry design and engineering, particularly those with a deep understanding of the tools used in the craft. Learn more about this consulting opportunity: https://lnkd.in/eMYCUpzh Not an expert in this field? Know someone who is a right fit? Pass on the message and get a Referral Commission. #jewelry #engineering #loupes #innovation #management #technology #productivity #gettingthingsdone #businessintelligence #managementconsulting #consultants #business #networking #leadership #hiring #job #research #digitaltransformation #marketresearch #qualitativeresearch #microconsulting #MavenResearch

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Private label footwear is an interesting discussion. I was surprised to hear REI getting out of making their own footwear. It looked good and I think offered a well-branded, unique approach offering some good value and performance (Vibram outsoles, etc.). There seemed to be an authentic story and reason to exist. Often private label is synonymous with cheap. Footwear in particular can be hard to execute well when it's at a very competitive price point, often with a large SKU offering and has the realities of tooling costs and technical development. Most commonly private label footwear is pawned off to a trading company to stick a logo on "knock-off" designs with open tooling produced at a questionable quality and performance standard. But I think private labels can compete. My first experience in footwear was with Power Footwear, possibly the largest global private label - a "house brand" of Bata Group. It showed me it is possible to craft real performance with value in mind and we did so with design as a strength. Original tooling, original technology, original design. Decathlon is also doing it really well. Some of the latest KIPRUN products I think can go head to head with Nike, Adidas, etc. Amazing design and cutting edge performance and sponsored top athletes. They have turned in-house resources and brands into a showcase for products that bring consumers into the stores. The whole point of private label in the first place. What do you think? Can private label footwear exist in today's retail landscape where a brand is more than product and needs to be supported by marketing, social, and the full experience? Do consumers want private labels? Do they know/care they aren't "real" brands? --- I’m the owner of The Directive Collective footwear design consultancy. We make great footwear, not just great sketches. #design #footwear #footweardesign

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Lotsa directors, LPs, Art Directors, Stylists keep hollering for meetups 🤙, but meetings are a straight-up time suck ⏳. Half the day gone, poof 💨. We'd rather grind and get more work 💪. And guess what, that work can come to you! 📈 Don't get it twisted though, not meeting doesn't mean we ain't checking your work 👀. We're always on the lookout for dope directors, our database is popping 📚. We've shot big-budget films and only met the director after winning the job 🎥💸. Now, you might be like, "But meetings help me vibe with the person I'm working with" 🤔. Here's the thing: we've gone into shoots knowing the director's a total asshole 😈. Why? 'Cause the agency loves 'em and we can make bank 💵. So, what do you do to stay on our radar? 📡 Keep sharing your work 📬. Call if you wanna chat 📞. And the time you save not meeting us, use it to hype yourself on social media 📲 or call a few Creative Directors who actually make the decisions. #directors #protip #filmproduction #adfilm #hustling #agencylife #creative #advertising #filmmaking #filmmaker #scriptwriting

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From sketching sneakers as a kid to revolutionizing footwear design, Omar Bailey is forging paths and breaking molds with FCTRY LAb. This founder is reshaping the industry from LA, championing diversity and creating opportunities for minority designers. Omar's ethos? Don't wait for permission—create your own opportunities. Check out this article by Essence to get an in-depth look into his world of design and how he’s transforming the future of footwear, one shoe at a time: https://lnkd.in/gYccRXWB 

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🚀 Big news in luxury retail and an interesting article from Vogue Business Saks Fifth Avenue and Neiman Marcus Group Marcus are nearing a $3 billion merger, with support from Amazon and Salesforce. This merger could reshape the industry, leveraging Amazon's e-commerce and logistics prowess and Salesforce's top-tier CRM solutions. 🔗 Maghan McDowell

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80% penetration of extended warranty is impossible! In any industry!! And especially in jewelry!!! Or so I thought… Signet Jewelers reported Q1 earnings last week. While Wall Street slammed the stock price nearly 20% (down 9.2% in Same Store Sales in North America is pretty dismal), I thought there were some intersting tidbits and learnings beyond the basic EPS. Most notably, CEO Gina Drosos mentioned how successful their push into “Lifetime Service Plans” has been, even citing an 80% penetration in engagement rings (https://lnkd.in/gyN7Nv_S.) I was certain she misspoke. How can you possibly achieve 80%? But later that day, on Mad Money (https://lnkd.in/gV9Jns6b), she doubled down on the statistic so I’m both impressed beyond words and dumbfounded. If you aren’t familiar with lifetime service plans, they are basically extended warranties (think of AppleCare on your iPhone). For a fixed upfront cost (Signet charges between 10-25% of the sales price), they promise to service the item for life (resizing, rhodium plating, retipping prongs, etc - https://lnkd.in/gS6P4D5a). Notably, Signet’s plan excludes diamonds or gemstones that are lost from the mounting.(Shameless Plug: Daniel’s includes lost stones in our lifetime warranty program!) Anyways, extended warranties are generally highly profitable and also a great way to get customers back in the store (free cleanings, free inspections) so most jewelry retailers focus on selling these and have for many decades. But 80% penetration??? I verified that I don’t have a single SKU at 80% penetration, much less my entire bridal department! What Signet is reporting is darn near incredible! They should be applauded. Back of the envelope, the numbers check out. They reported about $717M in Lifetime Service Plans in fiscal 2023 which is about 10% of their total revenue, and Engagement is about 50% of their sales, so $3.6B in engagement times 80% penetration times 15% of revenue equals $430M or about 60% of their total Lifetime Service Plan revenue. But to achieve that, they somehow have convinced 8 out of 10 in-store engagement customers to buy an extended warranty. Think about that for a second: 8 out of 10?!? I can’t even get 8 out of 10 people to agree the sky is blue! I want to know what their secret sauce is, especially since they must also be selling high percentages to their non-bridal customers to make up the rest of their service plan revenue. Whatever hypnotic power of persuasion is in the water coolers at their stores I want. Anyone have any insights???

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PSA: Here’s why 69% is the magic number for apparel and accessory brands… If you’re not focusing on gross margins as part of your P&L strategy, you’re operating at a serious disadvantage. New statistics prove that the most successful apparel brands price based on a 69% gross margin, giving them the flexibility needed for growth. Why, you ask? With this margin, brands easily account for things like… ↳ Production Costs ↳ Delivery Fees ↳ Returns (Let’s face it, these are inevitable.) ↳ Payment Processing …and that’s just the basics. Need more insight? Hit the link for the State of eCommerce report in our bio 🔗

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Read What's New on the Stuller Blog!✨ Top Jewelry Gifts for Father's Day 2024: To make shopping for Dad even easier, we asked a few of our merchandising experts to share their favorite piece for Father’s Day!

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Demand for fashion products is on the rise, with 76 percent of US based consumers surveyed claiming that they intend to increase spend in 2024 across mass-market, mid-market, luxury, and secondhand segments. Download the MMGNET 2024 US Fashion Consumer Outlook Report to unlock more insights and to explore topics such as the major shifts that will define the US fashion market, the categories US consumers are planning to spend in, what motivates consumers to make purchases, and more. Unlock more insights here: https://lnkd.in/g66fBU_H

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This should be interesting post the Supreme VF Corporation transaction. Look at what Ray-Ban, Google, etc, are doing. Who will come out as the winner is anyone's guess, but going up channel never hurts as it's all downhill from there. Always good stuff, Richard Kestenbaum #VFcorporation #Supreme #RayBan #Google #businessstrategy #ForbesInsights Read more insights from Richard Kestenbaum: [Link to the article]

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Another fantastic event from TheIndustry.fashion & TheIndustry.beauty team. We were in a great company with some industry veterans to learn from leading brands like Snap Inc., Smythson of Bond Street, Stussy, Inc., and Nobody's Child on mastering promotions, stock availability, and deliveries for the crucial trading period. 🎤 Session Highlights: ❇ Optimising for Omnichannel: Aptos Retail’ Steve Ross shared insights on unified commerce and preparing for peak trading. ❇ Levelling Up Logistics: Bleckmann’s Erik Janssen Steenberg and Rachel Dyche discussed logistics strategies for peak periods. ❇ Engaging Customers on Snapchat: Our very own Deepak Anand, alongside Claudine Clark from Snap Inc., explored the power of social media in driving sales and customer engagement. Deepak emphasised, "Social shopping is crucial for brands and retailers. Platforms like Snapchat help reduce return rates by allowing consumers to seek feedback from friends and family." You can view the highlights from today’s event here: 🔗 https://lnkd.in/eDfeYaKK

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Being a “hired gun” for other apparel brands is: ✅Rad ✅Exciting ✅Expansive ✅Imperative ✅Nothing new ✅A growth opportunity ✅Cross pollination at its finest. MORE important is making sure the Studio 669 frequency/vibration does not change. NO MATTER who I am (or you) working for/with.. stay true. 🎯Because There’s nothing worse than a design that’s equivalent to a slice of wet toast at the bottom of your sink. It’s lifeless---it’s worthless… you can’t discount it enough~~ It’s like *that Uncle that won’t leave the party long after it’s over. 📢PLEASE LEAVE! Substandard- 🎯Is a DISSERVICE to all your hard work building your brand. 🎯Is a DISSERVICE to the creative themselves that sold out along the way. ✅Organizations like BLIPSHIFT “get it”… and they VAPORIZE their inventory in the process. Their brand is NEXT LEVEL, making them very relevant in a scene where people pay for (and get) garbage design and quality. Playing the long game is just that. It’s understanding that old saying: 🎯"You NEVER have a second chance to make a first impression.” What a blast working with BLIPSHIFT, *sprinkling GO FAST into their mix. P.S. This video was a “1 and done”… it could be staged and scripted----but then authenticity flies out that silly window (-: I’m Scott Fisk and I look forward to chatting with you when you’re ready to pour high octane over your next event, brand or organization.

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According to a new report by Radial Inc., consumers of fast fashion and luxury aren't so different from one another. Today’s shoppers are purchasing from both categories, moving seamlessly between consumer behaviors that cater to present needs, desires and occasions. Read the full article over on WWD to find out more. ⬇ Link to article in comments. #luxuryfashion #fastfashion #consumerbehavior #retailmarkettrends

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