JCK Luxury Spotlight: The Flush Life

Jewelers agree: Affluent customers are spending again. But could problems in the equity markets scare them away? Last April, Jay Mednikow began noticing something he hadn’t seen in a while: wealthy customers. “We started getting high-end sales on a regular basis, very much how it was before the recession,” says the owner of Mednikow Jewelers in Memphis, Tenn. “We would get one here, one there, and it really helped. It was a real distinct change.” In fact, Mednikow’s sales of more expensive items have been so strong that he now plans to promote them. “For the past few years, I have been advertising price-point pieces and putting forth the image that we are approachable,” he says. “I’m going to keep doing that. But I am also going to feature the high-end pieces we have avoided because we didn’t want to project that image.” “I think that the wealthy got h

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