MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
EditorsMay 01, 2015
The experiential economy
This week Time Inc. and YouGov, a U.K.-based market research firm, released their 10th annual Survey of Affluence and Wealth, which polls more than 6,000 wealthy consumers worldwide.
But, I did nab some time on the phone with YouGov managing partner Cara David on Wednesday afternoon to discuss one of the more interesting points in the survey: Consumers continue to be more interested in spending their money on experiences than on things.
A MasterCard executive made this same point during her presentation at the Global Retailing Conference this week in Tucson. (As a side note, I know that there is a disparity between the data from the U.S. Commerce Department on jewelry sales that we reported on earlier this week and that which MasterCard presented at the Tucson conference. I am looking into this for next week.)
The Time Inc./YouGov survey, which polls affluent consumers about their spending plans for the year and then compares it what was spent last year, indicates that spending on travel will increase more than any other category in 2015. Spending on dining out/out-of-home entertainment also is expected to rise.
The data from MasterCard showed a similar pattern: people are spending more on travel (MasterCard tracks airline tickets specifically) and dining out at restaurants.
“People,” David observed, “are putting their money, first and foremost, in experiences: going places with their families, connecting with people, and that’s tough to compete with.”
This also means that they are spending less money acquiring things, objects, more “stuff” to lay around the house, a trend with which I can identify completely.
I’ve long been fascinated by the entire minimalist movement, particularly those people who limit their personal possessions to 100 objects. I’ve contemplated adopting this lifestyle a few times over the years. I just don’t think, at the end of the day, that I could do it.
But I do like to keep my possessions at a minimum, partly because of the size of my apartment but also because I just don’t want to feel overrun by my “things.”
Like many of those surveyed, I’d rather spend my extra money on going out to dinner with friends, taking trips, or seeing movies or plays. My New Year’s resolution this year, in fact, was to adopt an internal accounting method for keeping my personal inventory
low: Anytime I buy something (outside of food and toiletries), I have to get rid of at least one thing I already own.
So, where does the current propensity for picking experiences over objects leave jewelry? I would say not in as bad of a position as other “things.”
Jewelry, after all, has both sentimental and intrinsic value. It possesses the elements that David says people are looking for when they purchase non-essentials these days: jewelry conjures up memories, has a greater meaning and, when done right, it is extraordinary and many pieces, particularly nowadays, are one-of-a-kind.
It is the only “thing” for which I am willing to break my 2015 resolution.
So, where does the current propensity for picking experiences over objects leave jewelry? I would say not in as bad of a position as other “things.”
Jewelry, after all, has both sentimental and intrinsic value. It possesses the elements that David says people are looking for when they purchase non-essentials these days: jewelry conjures up memories, has a greater meaning and, when done right, it is extraordinary and many pieces, particularly nowadays, are one-of-a-kind.
It is the only “thing” for which I am willing to break my 2015 resolution.
More on Editors
The Latest
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
