Jewelry Industry: Is Government Regulation in Our Future
Are we headed for more government regulation of the jewelry industry? Maybe, if we can’t get things under control. It wasn’t so long ago that the Federal Trade Commission Guidelines for the jewelry business and Truth In Advertising rules were a major deal, with companies planning their marketing thrusts over what could and could not be said and what specific nomenclature could be used. It was also felt that we are better off as a self-regulated industry. But it seems that the world of the Internet is fast changing the parameters of controlling who can say what about their products.
Today there are millions of listings and web pages accessible to the trade and consumer with countless inaccuracies and false statements. Many of the perpetrators are blissfully ignorant of their infractions and others find the web a perfect place to "stretch the truth" at will. This problem is growing exponentially with the web. The trade at present has no way of reviewing/regulating/controlling all of these Internet-based communications, and it is only a matter of time before the government steps in as a response to a rising tide of consumer complaints about being ripped off to gain control of the situation. What can/should we do as an industry about this growing problem? Educating the industry about what is OK and what is not OK to put in any communicatiuons regarding jewelry and related products, online or otherwise, would be a good start, with an emphasis on the fact that FTC rules and Guidelines apply online the same as they do offline. Any additional thoughts on this subject would be great.
Stephen Berson commented:
Mervyn Cohn commented:
Mervyn Cohn commented:



















