Sunday at JCK

I actually saw a lot of movement. Today, it felt like there was a jewelry convention going on. Downstairs, in the main area vendors had retailers around their entire booths; though, at the very back of the showroom—I couldn’t help to notice a ton of empty booths. I realized if there was a year to get a great spot upstairs—this was the year to do it. Many of my vendors were able to secure a spot upstairs—I hope it worked out well for them. I had the chance to speak to some of the vendors. Many felt the same as all of us—times are tough and they weren’t worried about selling but instead collecting. Then there were a few (specifically non-branded bridal retailers) who said they were doing extremely well. They told me their retailers needed an assortment of rings that filled price points because they knew even in this economy men were going to propose. These non-branded bridal exhibitors were able to fill a niche—a high quality product with a reasonable ticket price.

I couldn’t help to wonder why larger bridal brands didn’t come out with more price point rings. The few bridal retailers that I visited did have a few new designs but they were pricey. I wished my bridal vendors had more rings (meaning wedding band and semi-mount) that retailed for $2000 or so. The retailers that I have spoken to (the ones that are doing okay during these times) say it’s because of their bridal business. I have found a decrease in sales all around. We used to sell a whole lot of remounts to couples who wanted to upgrade or reset their original diamond but I have seen less and less of those consumers. I’m thinking because my branded lines are a little too much for them at this time.

How is bridal doing for you? Is bridal a recession proof category? Are you selling more non-branded rings? Are you selling lower quality diamonds OR are you just lowering your prices?