To Be Continued ...

By Hedda T. Schupak -- JCK Online, 6/1/2009 2:00:00 AM

"Those who cannot remember the past are condemned to repeat it."—George Santayana

Being the editor-in-chief of JCK—and a senior and staff editor before that—has given me more than 23 years of observing all sectors of the industry. If there are two lessons I could wish for the industry to take to heart from these most trying times, it would be the two that I've carped about for years: the need for sound financial practices and courting the female fashion customer as a future growth market.

Last month I discussed the "new normal" and what that was likely to be. New research from the Harrison Group and American Express Publishing, released days before press time, gives us a better glimpse into what that new normal will look like.

You read it here first: frugality is here to stay. According to the American Express/Harrison 2009 Survey of Affluence and Wealth In America, 53 percent of affluent Americans are worried about running out of money—but 66 percent are happier than ever!

This is the first time the happiness index has risen, and it signifies a fundamental moral shift in our society. Consumers no longer believe that money can buy happiness or that more stuff equals more contentment. They're deriving great pleasure in saying "No," spending less, saving more, and practicing financial discipline.

Yet people are still shopping. When they do buy, it's a product that has meaning and an authentic price-to-value equation. If it's a premium-price product, it must have a real justification for the price—quality, workmanship, rarity—not just snob appeal. Other research has shown that a premium price won't hold up if there's a comparable product that consumers perceive will do the job as well for less. Paying a premium once was a badge of honor; today getting a bargain is a point of pride.

There's a new normal for JCK as well. Some of you may be aware that because of significant cuts at both executive and staff levels across a number of RBI magazines (JCK's parent company), seven members of the JCK team are moving on. Mitch Horowitz, who's been my friend and industry-brother as we "grew up" in the industry after college, leaves our sales team, while internally we say goodbye to custom publishing manager Ernst Pretto and sales assistant Jeremy Fogel.

Editorially, senior editors Anthony DeMarco, William George (Bill) Shuster, and Carrie Soucy also have left, and this issue is the last one I have directed as JCK's editor-in-chief.

I wish to express my most profound gratitude and praise for the work of my former editorial teammates—Tony, who for nine years gave up a lot of sleep and interrupted almost all of his vacations to post news on JCKonline and put out eMonday and eWednesday, and without complaining. Carrie was my most formidable competitor when I was JCK's fashion and luxury editor and she was at National Jeweler, so when I was promoted to chief editor, naturally the first thing I did was poach her to replace myself in the fashion/luxury role. (Whitney Sielaff, NJ's EIC, finally forgave me years later.) And Bill has been a tireless, loyal advocate for both JCK and the industry for almost 30 years, not to mention an amazing historian and the most determined of reporters. Whatever the story, I knew Bill wouldn't give up till he had it in hand.

Remaining on staff are senior editors Rob Bates and Jennifer Heebner. Rob's insightful stories and award-winning blog have a global following and his wry, dry sense of humor can fool those who might not realize he doesn't miss a trick even as he's cracking a joke. Neither does senior editor Jennifer Heebner miss a thing. Whether sinking her teeth into a topic the industry is loath to discuss or digging through mountains of product, she's fearless about getting to the heart of the matter.

Art director Todd Gast and production editor Cherilyn Sajorda, who make sure JCK's pages are beautiful—and at the printer on time—also remain.

Finally, there are no hands more capable than those of Richard Dalglish, who, for the last nine years, has kept JCK's editorial wheels turning smoothly, allowing me to get out and put my ear to the ground to determine how best JCK could serve the industry. He is, without question, The Best Managing Editor in the Whole Wide World. His job description as managing editor included—among plate-juggling, fire-extinguishing, and producing a magazine or three every month—keeping me sane. He excels at all and takes over the daily management of the editorial staff.

Within a few months of joining JCK in 1986, I observed that this is an industry that either gets into your blood and you're in it for life, or it drives you crazy and you get out as soon as possible. This crazy, goofy, nutty, lovable industry is my extended home and my extended family. I'll be consulting, speaking, analyzing, training, and who knows what else, but I'm not going away. Rather, I am looking forward to opportunities to help you, dear readers, grow and navigate challenges in a more hands-on way. My e-mail is heddaschupak@gmail.com, and I want to hear from you often!

To be continued ...