November 1, 2000

At the High End of the Tourist Market

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At the High End of the Tourist Market

luxury jewelers in resort areas and other travel destinations must accommodate themselves to their surroundings while maintaining their own unique appeal. the best take advantage of their environment even as they transcend it. all enjoy a steady influx of “new” if temporary customers, and some also develop a steady local clientele. here are three success stories. living for the city.

Points of Interest: Will Rising Rates Equal Slower Sales?

while overall consumer spending has slowed since the federal reserve board’s initial bump in interest rates in june 1999, at press time jewelry sales in 2000 were up over 1999 sales figures. since the rising rates don’t seem to be restraining jewelry shoppers, jewelers may be tempted to borrow additional funds to keep their showcases packed.

Lab News

european gemological laboratory in new york recently added a new nicolet advanced infrared spectrometer to its gem identification department. infrared testing is important in the identification of many gemstones, including natural and treated colored diamonds and high pressure/high temperature color-enhanced diamonds produced by novadiamond and general electric.

Tourist Destination: Outlet Centers

thirty-seven percent of u.s. tourists visited a discount outlet mall in 1997 (the most recent data available). twenty-nine million women and 25 million men out of 149 million adult tourists-domestic and international-account for the figure. one out of 10 visitors said shopping was the primary reason for the trip, while 79% noted outlet shopping as the secondary reason for the journey.

Facts About U.S. Travelers in 1999

adult tourists numbered 149 million.baby boomers traveled more than any other group, taking 259 million trips. they also spent more than any other age group, averaging $460 per trip (excluding transportation).fifty million beachgoers visited u.s. coastlines during summer months.

American Watch Guild Makes Time for Excellence

in the early 1930s, a time when consumer confidence in jewelry retailers was at its lowest point, former jeweler robert shipley crisscrossed america to create a national guild of professionally trained, ethical jewelers-the american gem society-whom consumers could trust and rely on when buying fine jewelry.

Profile of 1999 U.S. Domestic Traveler

average age is 48 years 64% are married more than 30% travel most during the summer months 57% of household heads are college educated 36% have children average income is about $55,000 nearly 70% stay overnight in a hotel for less than a week

Cash Takes a Holiday

tourists traveling in the united states spent nearly $1.5 billion in 1999 on food, lodging, and souvenirs, according to the travel industry association of america and the tourism industries/international trade administration. nearly half of the adult tourists-45%-went shopping almost as soon as their bags were unpacked. in fact, shopping is domestic travelers’ no. 1 activity.

EGL ACQUIRES NEW EQUIPMENT

european gemological laboratory in new york recently added a new nicolet advanced infrared spectrometer to its gem identification department. infrared testing is important in the identification of many gemstones, including natural and treated colored diamonds and high pressure/high temperature color-enhanced diamonds produced by novadiamond and general electric.

AGTA GEMOLOGICAL TESTING CENTER OFFERS NEW SERVICES

the american gem trade association’s gemological testing center recently added new options for determining whether diamond coloration is natural or artificial and whether a colorless diamond has been subjected to high-pressure/high temperature (hpht) treatment.

GOLFERS RAISE EDUCATION FUNDS

manufacturing jewelers and suppliers of america hosted its first-ever charity golf tournament and raised nearly $7,000 for the mjsa education foundation. more than 90 golfers played in the “best ball” tournament at ledgemont country club in seekonk, mass., on aug. 7.

Bench Tricks

bench jewelers who process a lot of work sometimes take short cuts to save time. in a perfect world, bench jewelers could work efficiently and not sacrifice quality.

NEW LAB OPENS, OFFERS GUARANTEE

the gemological certification laboratory (gcl) opened its doors for business in new york city in august. the lab’s diamond grading certificates are guaranteed to within a maximum one-grade tolerance as measured against the gemological institute of america’s grading system.