State of the Industry: 10 Ways to Revitalize the Jewelry Business

We have a powerful product. Richard Lennox, group account director for the De Beers account at JWT, puts it this way: “A piece of diamond jewelry is something you give, and it will be remembered forever. I can remember every single time I bought my wife a piece of diamond jewelry. I can't remember what I bought her last Christmas.” September is JCK's annual State of the Industry Issue, but we didn't want to focus on that precise topic—we all know the jewelry industry's health is less than robust. Obviously, a large part of the problem is the overall economy, but the jewelry business has appeared uniquely vulnerable this time around and seems to be losing its bid for share of consumer wallet. The situation isn't all bad: As Liz Chatelain of MVI Marketing notes, for a small industry, it still sells a lot of jewelry. But a sense of pessimism pervades the market, and the industry
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