WGC Looks to Mass Merchants

The World Gold Council is switching channels. Its annual report points out that mass merchants – discount stores, department stores and non-store retailers such as QVC and the Home Shopping Network – all had better growth in gold jewelry sales in terms of dollars and units than independent jewelers and chain jewelers. As a result, the World Gold Council’s major new direction is to support these non-traditional outlets. This is bad news for traditional jewelry sellers and the manufacturers of higher-end jewelry. WGC will shift its funding away from them. There is good news, however. WGC’s spending will help mass merchants go upscale in the way they choose, market, sell, promote and advertise gold jewelry, and this could benefit everyone. As more consumers begin to focus on gold’s intrinsic qualities, they will be less attracted by 50%-off sales, the bane of the traditional jew

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