Events & AwardsJun 07, 2022
5 Things to Know About JCK Las Vegas 2022TechnologyJun 13, 2022
JCK Keynote Guides Attendees Through the Metaverse
Speaker Swan Sit delved into several buzzworthy topics, like blockchain and NFTs.
For the JCK opening keynote, speaker Swan Sit opined on the metaverse.
Las Vegas—The metaverse is arguably the retail buzzword of the year.
JCK’s keynote Friday morning, titled “Web3 is Coming—Navigating the Past, Present, and Future of Retail,” was led by speaker Swan Sit.
Sit is the former global head of digital marketing at Nike, Estée Lauder, and Revlon.
She took a deep dive into hot topics like Web3, blockchain, and NFTs, but centered the conversation around using these tools to build a community and creating brand loyalty.
“Web1 was ‘go look at the dot-com site.’ Web2 was social, where you can look and comment back. But Web3 is a collaborative conversation we’re moving into,” she said.
Looking to explain a complex topic in a more accessible way, Sit shared several anecdotes throughout this session, but one about her work with beauty brand Elizabeth Arden was a standout.
Unlike on-trend beauty brands—think Glossier and Charlotte Tilbury—Elizabeth Arden was a brand one could find on their grandmother’s vanity.
Turning it cool and Insta-worthy was a tall order and Sit said she put her career on the line by taking some risks to make the brand more relevant.
As it turns out, Elizabeth Arden’s founder and namesake was ahead of her time in some respects. She was a women’s right activist and marched with the suffragettes. She created a “Victory Red” lipstick in the 1940s for women in the military. She was also the first woman to be featured on the cover of Time magazine.
Arden died in 1966 but Sit brought her back to life in a digital form, revamping the brand’s Instagram to show posts from Arden’s first-person perspective, as if she were alive today.
She recruited “friends” for Elizabeth Arden, like comedian Chelsea Handler and fashion icon Iris Apfel.
Sit’s risk paid off, with Elizabeth Arden posting growth for ten consecutive quarters following the campaign. The brand was later bought by Revlon.
Elizabeth Arden’s products were always present in the campaign’s photos and videos, but they were secondary to the conversations between “Liz” and her friends.
“If we’re lucky enough to build a community that grows, treating them like a community and not followers is a really massive difference,” said Sit. “It’s becoming a two-way street.”
The point of the campaign wasn’t to push product, but to connect to the audience using a digital medium. The opportunities to do that will likely only increase as metaverse technology continues to flourish.
Sit reminded the audience that while the term “metaverse” is new, the idea of a digital world a user can walk around in is as old as video games.
She recalled explaining the metaverse and what an avatar is to an older man at a social event. The conversation ended in embarrassment when he cut her off to say he knew exactly what an avatar was, because he was the creator of the popular game “Second Life,” which uses avatars to take players through a digital world.
Tech terms can throw non-tech-savvy people for a loop, however.
While the jewelry world may have a knack for marketing, said Sit, the tech industry isn’t as good at coming up with catchy terms to describe concepts like non-fungible tokens, or NFTs.
She explained NFTs as “a unique record on blockchain.”
Even those who understand what an NFT is can have trouble wrapping their heads around the value prospect, though. An example is the Bored Ape Yacht Club, an NFT collection built on the Ethereum blockchain. It features pictures of cartoon apes, and they sell for millions of dollars.
“How could a jpeg be worth millions of dollars?” she posed to the audience.
Then she asked those in attendance to open the camera roll on their phones and hold up a favorite photo.
Now, she said, imagine all of those photos, images of friends, family, pets, vacations, etc., just disappeared, and how upsetting that would be.
Non-tangible, digital-only images can hold enormous value, she concluded.
Sit also discussed the opportunities available to the jewelry industry through these tech innovations, especially blockchain.
Authenticating luxury goods and following antique and estate jewelry from owner to owner were two interesting possibilities mentioned.
JCK offered another metaverse-focused session later that afternoon.
Oliver Maroney, general manager of Web3 and NFTs at Cameo, led a session titled “Relevance—NFTs & Web3.”
Editors' Picks
Sponsored by
More on Technology
The Latest
IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 YearsThe store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.
CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.
Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About InsuranceFrom safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.
Brought to you by
6 Steps to Start a Dynamic Company CultureLearn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry BoxIt’s the first time in 50 years the brand has made something other than jewelry.
Weekly QuizSep 22, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design CompetitionThe competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.
CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New CollectionThe limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.
Brought to you by
Committing to an Ethical Diamond BusinessWhile ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.
GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad The Gemological Institute of America also announced plans for events in New York and London in 2023.
SourcingSep 23, 2022
See the Items in Gem Legacy’s 4th Anniversary Benefit Auction One hundred percent of proceeds will benefit the nonprofit’s silicosis prevention initiative.
CollectionsSep 23, 2022
Piece of the Week: Emily Weld Collins’ AmuletInspired by antique coins, it depicts a “hippocamp” from Greek mythology.
EditorsSep 22, 2022
4 Things Seen and Heard at the 2022 HardRock Summit Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.
TrendsSep 22, 2022
There’s a New Book on Tiffany & Co.Written by historian Vivienne Becker, it accompanies this summer’s Tiffany jewelry exhibition at London’s Saatchi Gallery.
Supplier BulletinSep 22, 2022
Using Commerce Data to Outshine the Competition in the Jewelry IndustrySponsored by Bloomreach
SourcingSep 22, 2022
First Diamond Recovered From Burgundy’s Ellendale Restart Burgundy also announced the retail launch of its diamond brand, Maison Mazerea.
Events & AwardsSep 22, 2022
JCK Industry Fund Now Accepting ApplicationsOrganizations with a project or initiative aimed at bettering the jewelry industry are encouraged to apply.
Lab-GrownSep 21, 2022
An Updated Look at the Lab-Grown Diamond Market: Size, Pricing, and More As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.
TrendsSep 21, 2022
These Are the Diamond Jewels to Stock for the HolidaysThese trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.
SourcingSep 21, 2022
A Day in the Life: Daniel Namdar, Fancy Color Diamond SpecialistNamdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.
Lab-GrownSep 21, 2022
Looking Ahead: 4 Factors That Could Shape Lab-Grown Diamonds’ Future Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.
AuctionsSep 21, 2022
Egyptomania at Sotheby’s: See the Egyptian Revival Jewels Heading to Auction The auction house is celebrating 100 years since the discovery of King Tut’s tomb.
MajorsSep 21, 2022
Claire’s Expands Walmart PartnershipThe chain’s jewelry and accessories are now available in 2,500 Walmart locations.
Events & AwardsSep 21, 2022
Ethical Gem Fair Heads to NYC for the First TimeThe event is slated for Oct. 20-22 at Brooklyn Metal Works.
MajorsSep 21, 2022
Hearts On Fire Announces Sales Teams ChangesJacqueline Raffi has been promoted to vice president, sales, North America.
CrimeSep 20, 2022
Customs Seizes More Than 700 Counterfeit Cartier ‘Love’ Bracelets Agents in Cincinnati intercepted three shipments of fake brand-name jewels that would be worth more than $10 million if genuine.
ColumnistsSep 20, 2022
The Smart Lab: 5 Holiday Shopping Predictions for 2022From free shipping to early shopping, Emmanuel Raheb outlines a handful of factors expected to shape the holiday season this year.
Events & AwardsSep 20, 2022
Harwell Godfrey Nabs CFDA Fashion Award NominationThe sole fine jewelry nominee, the brand is up for an award in the emerging designer category.
