Headlines - INSTOREMAG.COM https://instoremag.com/news/headlines/ News and advice for American jewelry store owners Fri, 15 Dec 2023 03:22:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 Retail Workers Fear for Safety: Survey https://instoremag.com/retail-workers-fear-for-safety-survey/ https://instoremag.com/retail-workers-fear-for-safety-survey/#respond Fri, 15 Dec 2023 03:22:55 +0000 https://instoremag.com/?p=102842 Technology, communications preparedness and training can aid staff and shoppers alike.

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As the year’s peak shopping season nears its frenzied crescendo, an inaugural Retail Worker Safety Report from Motorola Solutions found that many retail workers and managers perceive safety incidents at their stores are on the rise. The survey’s U.S. respondents reported that petty theft (54 percent), grab-and-run incidents (35 percent) and hostile customer interactions (31 percent) have increased in their stores over the past year, and as a result, nearly two out of three are at least somewhat concerned for their personal safety at work during this holiday shopping season.

“The holiday bustle can be a stressful time for retailers. Sales associates and managers shouldn’t have to be concerned about their safety on top of everything else,” said Sharon Hong, VP, Ecosystem Solutions at Motorola Solutions. “Our report found that retail workers are looking for more technology that can help them be better aware of safety threats, spot illicit activity and communicate quickly and seamlessly with other employees and first responders should an incident arise.”

Key findings from the report include:

  • Low-tech communication channels are still heavily relied upon during store emergencies: Retail workers and managers said they access landline telephones (58 percent) and PA systems (45 percent) to report store safety concerns while nearly one-third (28 percent) would rely on yelling to inform coworkers of an incident. These methods do not often enable a quick connection with public safety officials should store employees need immediate help.
  • Technology can play a meaningful role in increasing retail workers’ feelings of safety: Respondents said their stores currently feature video security systems (76 percent), alarm systems (64 percent) and merchandise sensors (44 percent), but that additional technologies would make them feel safer such as artificial intelligence (AI) to detect guns (42 percent), access control systems to lock doors when threats are detected (36 percent), wearable/mounted panic buttons to alert for help (30 percent) and license plate readers to identify vehicles associated with criminal activity (30 percent).
  • Some retailers are updating their safety and security protocols to support preparedness: Respondents reported progress in terms of preparedness and awareness. About one-third (36 percent) said their employer has introduced a new worker safety measure in the past 12 months, with top changes including increased emergency response training (49 percent), more timely communication about in-store incidents (41 percent) and additional security personnel (33 percent).

The survey for the study was done by the independent market research firm Researchscape, and involved responses from more than 1000 retail store associates and managers in November.

Click here for more from the survey.

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Just Peachy: Pantone Color of the Year 2024 https://instoremag.com/just-peachy-pantone-color-of-the-year-2024/ https://instoremag.com/just-peachy-pantone-color-of-the-year-2024/#respond Thu, 14 Dec 2023 02:53:40 +0000 https://instoremag.com/?p=102783 Peach Fuzz reflects a caring-and-sharing outlook

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Color consultant Pantone has unveiled Peach Fuzz as its Color of the Year for 2024. The company describes that tone – officially designated as Pantone 13-1023 — as “a heartfelt peach hue bringing a feeling of kindness and tenderness, communicating a message of caring and sharing, community and collaboration.”

The Pantone Color of the Year is often incorporated by interior designers and other creatives into environments and products to reflect the current ethos, which in this case is mainly a desire for interconnection.

“At a time of turmoil in many aspects of our lives, our need for nurturing, empathy and compassion grows ever stronger as does our imaginings of a more peaceful future,” the Pantone news release on Peach Fuzz notes. “…With that in mind, we wanted to turn to a color that could focus on the importance of community and coming together with others.”

Click here for more about the latest Pantone Color of the Year.

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Jeweler Shot During Store Robbery in NYC https://instoremag.com/jeweler-shot-during-store-robbery-in-nyc/ https://instoremag.com/jeweler-shot-during-store-robbery-in-nyc/#respond Wed, 13 Dec 2023 21:28:36 +0000 https://instoremag.com/?p=102768 The jeweler, age 59, was taken to a local hospital and is expected to survive.

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A jewelry store owner in Queens, NY, was shot during a robbery.

Police arrived at the scene around 6:30 p.m. Tuesday and found the jeweler with gunshots, WABC-TV reports.

Three men had entered the store wearing glasses and masks, and at least one opened fire, hitting the jeweler in the thigh and grazing his head.

The jeweler, age 59, was taken to a local hospital, and his injuries were reportedly not life-threatening.

An undisclosed amount of jewelry was stolen from the store, located in the Corona neighborhood of Queens.

See a news video about the crime below:

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Macy’s Gets $5.8 Billion Buyout Offer https://instoremag.com/macys-gets-5-8-billion-buyout-offer/ https://instoremag.com/macys-gets-5-8-billion-buyout-offer/#respond Wed, 13 Dec 2023 03:15:05 +0000 https://instoremag.com/?p=102746 Reported deal to take retailer private values it at $21 a share.

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An investor group, consisting of Arkhouse Management and Brigade Capital Management, has offered to buy Macy’s Inc. (New York) for $5.8 billion, according to people familiar with the matter, CNBC reports. The offer values the retailer at $21 per share, a premium over its most recent close (Dec. 8) at just over $17 per share.

As of this posting, none of the partners involved in the potential deal has commented on the record. The story was first reported by The Wall Street Journal.

Arkhouse primarily targets real estate investment, while Brigade Capital is an asset management firm. The two would be willing to raise their bid based on due diligence, the sources said.

Macy’s has made several efforts to draw customers back to its brick-and-mortar outlets. In October, it announced plans for 30 new smaller-format store locations at strip malls as it tried to pivot away from the traditional shopping mall. Despite the turnaround efforts, Macy’s sales have declined 7 percent yearly, the retailer said in its most recent quarterly earnings report.

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Swarovski Unveils New Flagship in New York https://instoremag.com/swarovski-unveils-new-flagship-in-new-york/ https://instoremag.com/swarovski-unveils-new-flagship-in-new-york/#respond Wed, 13 Dec 2023 03:08:52 +0000 https://instoremag.com/?p=102742 Fifth Avenue locale is the brand’s largest store ever.

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Swarovski (Wattens, Austria) has opened its largest-ever flagship store on New York’s Fifth Avenue. The two-level, 14,400 square foot store “is like stepping into a vibrant jewelry box filled with treasures – including the largest crystal chaton ever cut,” the retailer said in a news release.

The store was designed by Creative Director Giovanna Engelbert, who said the store “aims to spark wonder while paying homage to the shimmering beauty of crystal.

“As New York is an iconic fashion capital and also feels like a second home to me, it is exciting to see our flagship on 5th Avenue come to life,” said Engelbert. “I wanted to create the experience of entering a huge crystal – the world of Swarovski – and to ignite the imagination from the moment you step into the store. From the grand staircase in the shape of an octagon to the use of quilted velvet and silk throughout the store, all details are intended to provide customers the feeling of being inside a luxurious jewelry box. My vision was to produce a modern, joyful, elevated and futuristic design, which mirrors the light, energy and colors of New York.”

Overall, Swarovski has about 6600 points of sale (including 2300 owned stores) in more than 150 countries.

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November Rough for Retail Employment https://instoremag.com/november-rough-for-retail-employment/ https://instoremag.com/november-rough-for-retail-employment/#respond Tue, 12 Dec 2023 03:25:09 +0000 https://instoremag.com/?p=102701 Despite overall jobs gain in U.S. economy, stores sector fell.

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While total nonfarm payroll employment in the U.S. increased by 199,000 in November, retailers were not among the businesses contributing to that gain, according to the latest report from  the U.S. Bureau of Labor Statistics. Retail trade employment declined by 38,000 in November and has shown little net change over the year, the report shows, with the most notable job drops taking place in department stores (-19,000) and furniture, home furnishings, electronics and appliance retailers (-6,000).

The report also shows that the unemployment rate edged down from 3.9 percent in October to 3.7 percent in November, and that the total number of unemployed persons showed little change, at 6.3 million.

The report also noted that overall employment growth for November is below the average monthly gain of 240,000 over the prior 12 months, but is in line with job growth in recent months. Among the sectors adding jobs in the month were health care, government, manufacturing (due mainly to the return of auto workers from a strike) and motion picture and sound recording industries (again owing to the end of a walkout by workers in that sector).

“What we wanted was a strong but moderating labor market, and that’s what we saw in the November report,” Robert Frick, Corporate Economist with Navy Federal Credit Union told CNBC, noting “healthy job growth, lower unemployment, and decent wage increases. All this points to the labor market reaching a natural equilibrium around 150,000 jobs [per month] next year, which is plenty to continue the expansion, and not enough to trigger a Fed rate hike.”

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GPS Leads Police to Suspects in Miami-Dade Jewelry Store Burglary https://instoremag.com/gps-leads-police-to-suspects-in-miami-dade-jewelry-store-burglary/ https://instoremag.com/gps-leads-police-to-suspects-in-miami-dade-jewelry-store-burglary/#respond Mon, 11 Dec 2023 19:43:29 +0000 https://instoremag.com/?p=102681 The store owners said the thieves took about $1 million in valuables.

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GPS helped police tracked down two suspects in a Miami-Dade jewelry store burglary.

The crime happened early Dec. 4 at C4G Jewelers, WPLG Local 10 reported. Scroll down to watch a news video about the heist.

The store owners said the thieves took about $1 million in valuables.

The Jewelers’ Security Alliance stated in a bulletin:

Burglars carved a hole through the neighboring business into a jewelry store and dismantled the alarm system. The suspects ransacked the room and then attached a hook and steel cable to the store safe, which attached to a stolen tow truck parked right outside the front door. The burglars pulled the safe through the front door, and sped away with the safe.

The owner of the tow truck had a GPS device on the truck and alerted the police to t he location of the truck near a warehouse in Hialeah Gardens. When police arrived, they saw the truck backing into a garage.

Four men ran, but police were able to arrest two, one of whom, Ariel Hernandez, 37, is pictured above, and the other, Michel Avila Delanuez, was taken to a local hospital.

There have been five other recent cases in South Florida in which burglars have used flat bed or tow trucks to remove or attempt to remove safes from jewelry stores, two of which were previously featured in JSA Crime Alerts dated 09/22/23 and 08/18/23. If you have information, contact JSA at 212-687-0328 or jsa2@jewelerssecurity.org.

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“Digital Boomers” Is Not an Oxymoron https://instoremag.com/digital-boomers-is-not-an-oxymoron/ https://instoremag.com/digital-boomers-is-not-an-oxymoron/#respond Mon, 11 Dec 2023 02:55:41 +0000 https://instoremag.com/?p=102655 Older consumers more comfortable with tech than widely believed: survey.

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Despite baby boomers’ affluence and affinity for technology and digital experiences, just 6 percent of marketers identify that cohort as a part of their messaging, with most opting to “age down” their brand. That finding, in a new study by marketing firm Razorfish, indicates marketers and businesses (including retailers) may be neglecting some of their wealthiest potential customers.

“When you think about the fact that boomers hold nearly 50 percent of total U.S. assets and account for more than 20 percent of spending, there’s a massive opportunity for brands and marketers to engage with them more deeply through digital channels,” said Nic Chidiac, Chief Strategy Officer of Brand and Experience at Razorfish. “This research is an eye-opener for anyone that doesn’t think this cohort knows its way around the latest technology products and platforms.”

Most oomers (70 percent) are curious about new technology and devices, and are eager to learn how to use them, either by reading about them in the news or trying them out for themselves. They are most interested in devices like laptops, smartphones, smart doorbells, locks, and security cameras.

Another finding showed boomers research major purchases like kitchen appliances and other expensive devices online, and one in four eventually buy these products online. While the majority still make large purchases in person, they are open to moving this experience online.

“What is fascinating about Boomers is how purposeful and enthusiastic they are when it comes to choosing the technology they interact with,” said Chidiac. “There’s a lot of potential to tap into their general excitement and optimism here, especially as we see a rapid technological transformation unfolding at a higher click.”

The study’s sample population was 1003 U.S.-based boomers (ages 57-75).

Click here for the full study

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Small Retailers Struggle to Meet Shoppers’ Expectations https://instoremag.com/small-retailers-struggle-to-meet-shoppers-expectations/ https://instoremag.com/small-retailers-struggle-to-meet-shoppers-expectations/#respond Thu, 07 Dec 2023 02:54:27 +0000 https://instoremag.com/?p=102595 Stores’ tech abilities fall far short of what shoppers want: surveys

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Small retail businesses are losing potential customers because they lack the tech-driven convenience Gen Z and Millennials expect, according to two surveys conducted by GoDaddy.

A whopping 91 percent of 1000 U.S. small business survey respondents feel they offer customers a convenient online experience. However, only 21 percent of consumers—and just 19 percent of Gen Z—feel that’s the case.

“Consumers are ultimately looking for convenience, and if small businesses aren’t meeting these expectations, they’re likely losing business,” said GoDaddy Trends Expert Amy Jennette. “… The most important thing is that small businesses are adapting as Gen Z and Millennial preferences evolve beyond what’s been the status quo.”

Overall, while small businesses identified Gen Z and Millennials as top target audiences, their current practices tend to cater more to older generations. But there’s still an opportunity for entrepreneurs to earn younger consumers’ business. Nearly three-quarters of Gen Z and Millennials say they would shop more at small businesses if they offered the same convenience as larger chain stores.

Moving into 2024, small businesses should aim to work smarter and lean on technology designed to make meeting these consumer preferences easier, the survey’s authors conclude.

Click here for more from the surveys.

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India-Based Jeweler Opens 2 Texas Stores https://instoremag.com/india-based-jeweler-opens-2-texas-stores/ https://instoremag.com/india-based-jeweler-opens-2-texas-stores/#respond Wed, 06 Dec 2023 08:13:12 +0000 https://instoremag.com/?p=102573 Tata Group’s Tanishq chain debuts in Houston and Frisco.

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Tanishq (Bangalore), a major jewelry retailer based in India, is continuing its expansion into the U.S. with the debut of two retail stores in Houston and Frisco, Texas. Those openings follow the brand’s initial foray into the U.S., a flagship store that opened early this year in Iselin, N.J.

“Tanishq is a rich story that spans almost 30 years and the name was crafted in conjunction of two words. In Sanskrit, Tan – means body, and Nishq, meaning gold ornament, and when combined came to signify an ornament that adds to the beauty and elegance of women,” CEO Kuruvilla Markose said in a news release.

The Frisco store spans over 5000 square feet, while the Houston locale has 3800 square feet. Both offer more than 2,000 designs in 18 and 22 karat-gold and diamond jewelry, as well as solitaires and colored stones.

With these new locations, Tanishq said it is meeting the Indian-American community where it lives, as Texas has the country’s second-largest population, with over 450,000 such residents. Most of that population is located in the state’s large metropolitan cities, such as Houston and Dallas-Fort-Worth (30 miles away from the new Frisco store).

“The Indian audience is spread across the United States and as we expand in effort to catering to their diverse preferences, bringing a wide range of exquisite jewelry for any occasion,” says Business Head of Jewelry Amrit Pal Singh.

Tanishq is a unit of India’s multinational conglomerate, the Tata Group, and currently has about 400 stores in its home country.

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