CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
SurveysOct 16, 2013
Confidence concerns linger in wake of impasse
Jewelers say they are concerned about how this latest fiscal crisis, coming only a little more than two months before the all-important holiday season, will impact consumers’ mindset about spending money.
New York--While the shutdown is officially over and the government has, at least temporarily, agreed on financing going forward, the effect of the fiscal fight on consumer confidence didn’t dissipate with Congress’ near-midnight vote.
Jewelers, like many other retailers, are concerned that this latest government loggerhead, coming only a little more than two months before the all-important holiday season, will impact consumers’ mindset about spending money.
Two retailers with stores in the Washington area, ground zero for the 16-day federal furlough, said their clients weren’t directly impacted by the shutdown, which began Oct. 1 and ended Thursday.
But retailer Jim Rosenheim, owner of Tiny Jewel Box in Washington, said customers missing a few paychecks is not the issue. The issue is the psychological impact on consumers; incidences like this latest government meltdown can make them frustrated and nervous.
That is not good for business, especially 68 days before Christmas.
Rosenheim, however, stops short of labeling himself a nervous business owner. “I wouldn’t say nervous. I would say a little uneasy. I can’t believe our elected officials would actually jeopardize the economy in this country and elsewhere, playing these political games,” he says. “To play winner-gets-all with the economy, (with) everybody’s situation possibly affected by this, this is not what we elected these people to do.
“It’s scary that for political reasons people would take us up to the edge.”
Although his store is geographically far removed from Washington, Bill Longnecker, who owns Longnecker Jewelers in McCook, Neb., expressed concerns similar to those voiced by Rosenheim.
He says the clientele in his extremely politically conservative area have grave concerns about the national debt and what they perceive as out-of-control government spending. It makes them hesitant to spend because they are unsure about the country’s long-term future.
“People are really reserved about going into debt on their credit cards,” Longnecker says. “You can hear it. There’s nervousness. You can tell they are really holding back because of how they feel about the future.”
Jim DeNatale, of DeNatale Jewelers in New York, also has a “strong fear” the government’s problems will cause consumers to spend less this holiday season. “They’ve already caused doubt in people’s minds (as to whether) they know what they are doing or that the country’s going to run smoothly in the future,” he says.
Retailers’ concerns over decreased consumer confidence in the wake of the
federal shutdown and debt limit debate seem warranted.
The Gallup poll for the week of Oct. 8 showed the steepest drop in Americans’ confidence in the economy since the collapse of Lehman Brothers in September 2008, with Gallup noting that “fiscal brinkmanship in Washington” has played a role in many of the big week-to-week drops in Americans’ economic confidence since 2008.
The following week’s poll showed continuing erosion in consumers’ view of the U.S. economy, with the Gallup Economic Confidence Index dropping five points week-to-week following a 12-point slide the prior week.
Still, there are some jewelers who say consumers are immune to the government’s squabbling at this point--the country, after all, made it through a similar debt-ceiling debate just two summers ago--don’t feel it really impacts their daily lives or, simply, won’t be giving this October faceoff much of a thought by the time the holiday shopping season is in full swing.
“People have a short attention span,” says Jonathan Mervis of Mervis Diamond Importers, a Washington-area retailer. “Hopefully, they won’t care about this by mid-November and December.”
He says overall his clientele, including those who are federal government employees, weren’t too adversely affected by the shutdown. They are generally in good-paying jobs, conservative with their money and don’t live paycheck-to-paycheck so missing a few paydays was not devastating for them.
He also says that the fact that we’ve been here before plays a factor in consumers not totally losing their desire to shop.
“People are more resilient post-recession,” Mervis says. “They realize they are going to survive and that the sky didn’t fall.
“I think people will be OK.”
Jeweler Kelly Newton agrees that some, not all, of his customers do have some degree of immunity to the political quagmire that continues to dominate the headlines, and notes that his business has not been at all impacted by the impasse. He said his store Newton’s Jewelers, located in Fort Smith, Ark., has only gotten busier over the past few weeks.
“A lot of our customers are sick and tired of hearing it. It’s just business as usual. They think that’s all that happens in Washington anymore so they are not surprised. They are getting kind of used to all the battles,” he says.
That being said, Newton still thinks it is conceivable that the problems will shake consumer confidence for the season, so much so that he’s mentally preparing himself for a Christmas that could be slower than expected.
“Mentally, I am ready for it to fall off,” he says. “I am just preparing myself in case it does.”
The Gallup poll for the week of Oct. 8 showed the steepest drop in Americans’ confidence in the economy since the collapse of Lehman Brothers in September 2008, with Gallup noting that “fiscal brinkmanship in Washington” has played a role in many of the big week-to-week drops in Americans’ economic confidence since 2008.
The following week’s poll showed continuing erosion in consumers’ view of the U.S. economy, with the Gallup Economic Confidence Index dropping five points week-to-week following a 12-point slide the prior week.
Still, there are some jewelers who say consumers are immune to the government’s squabbling at this point--the country, after all, made it through a similar debt-ceiling debate just two summers ago--don’t feel it really impacts their daily lives or, simply, won’t be giving this October faceoff much of a thought by the time the holiday shopping season is in full swing.
“People have a short attention span,” says Jonathan Mervis of Mervis Diamond Importers, a Washington-area retailer. “Hopefully, they won’t care about this by mid-November and December.”
He says overall his clientele, including those who are federal government employees, weren’t too adversely affected by the shutdown. They are generally in good-paying jobs, conservative with their money and don’t live paycheck-to-paycheck so missing a few paydays was not devastating for them.
He also says that the fact that we’ve been here before plays a factor in consumers not totally losing their desire to shop.
“People are more resilient post-recession,” Mervis says. “They realize they are going to survive and that the sky didn’t fall.
“I think people will be OK.”
Jeweler Kelly Newton agrees that some, not all, of his customers do have some degree of immunity to the political quagmire that continues to dominate the headlines, and notes that his business has not been at all impacted by the impasse. He said his store Newton’s Jewelers, located in Fort Smith, Ark., has only gotten busier over the past few weeks.
“A lot of our customers are sick and tired of hearing it. It’s just business as usual. They think that’s all that happens in Washington anymore so they are not surprised. They are getting kind of used to all the battles,” he says.
That being said, Newton still thinks it is conceivable that the problems will shake consumer confidence for the season, so much so that he’s mentally preparing himself for a Christmas that could be slower than expected.
“Mentally, I am ready for it to fall off,” he says. “I am just preparing myself in case it does.”
More on Surveys
The Latest
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
