ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
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
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
