You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates make predictions for 2022 and some New Year’s resolutions.
00:30 Rob and Victoria make predictions for 2022.
05:52 Rob talks about the importance of having a middle class, and Victoria talks about the importance of integrating tech into the retail process.
08:27 Rob wonders if in-person trade shows will make a comeback in 2022. Victoria expresses awe at the recent Patek-Tiffany watch auction.
16:00 Victoria talks about deepfake videos, augmented reality, and AI technology.
20:02 The final podcast of the year ends with a discussion of the circular economy and Rob and Victoria discussing their New Year’s resolutions.
Predictions For 2022
On their last podcast of the year, Rob and Victoria looked back at 2021. Now, Victoria says she feels hopeful for 2022. Rob says jewelers should probably be expecting a strong holiday. He also predicts a wedding boom, which has been a long time coming. Overall, the industry has been doing well—but the question remains whether that trend will continue. Victoria thinks yes. She sees a trend in people putting their money into hard assets—whether they be watches, diamonds, or collectibles—and predicts that will continue for the luxury market.
Where Is The Economy Now?
We’re seeing a bifurcation in the economy: During the pandemic, the top 1% only got richer. Over the next year we’ll see if this economic disparity will continue to grow or if a strong middle class will form. Rob explains how a middle class is needed for people to buy jewelry. Victoria recently interviewed Andrea Hill, who talked about how retail is poised to rebuild itself and how much people are looking forward to shopping again. But for jewelers to rebuild, Andrea said people need to integrate tech into the retail sales process.
Trade Shows And Auctions
Rob and Victoria then talk a little bit about trade shows. Rob thinks trade shows just aren’t the same when they’re virtual and hopes things go back to being in person soon. Victoria says convenience is important, but it doesn’t lessen people’s interest in shopping in person. Victoria then brings up auctions—including that of the Patek Philippe Tiffany Blue watch that recently sold at auction for $6.5 million.
What’s Coming In Tech?
Rob asks Victoria what other cool tech things are brewing. She recently had a conversation with Miles Fisher who lives in Los Angeles and is the founder of Bixby Coffee. The most interesting thing about him? He looks like a young Tom Cruise! He’s used his likeness to create a deepfake account on TikTok and Instagram. She segues into talking about the AI and augmented reality technology we have available to us. We’re on the brink of something big—tech plays a huge role in the way we buy jewelry. Rob discusses the potential pitfalls.
Sustainability, the Circular Economy, and New Year’s Resolutions
The JCK editors move on to talking about sustainability and the circular economy. Jewelry is an industry geared toward the circular economy, and Victoria wonders what it would take to establish a really healthy pre-owned market. Rob brings up that we’re seeing lab-grown companies pivot to tech applications for their diamonds—using them for semiconductors and other electronic applications. Victoria and Rob then share their New Year’s resolutions.Follow JCK on Instagram: @jckmagazine
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