CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
OtherFeb 05, 2014
Live from Tucson: Turning trends into profit
At the AGTA GemFair on Wednesday, Performance Concepts’ Kate Peterson outlined eight consumer trends for 2014 and how retailers can translate them into sales at their stores.
Tucson, Ariz.-- Consumers today are more informed than ever. With the Internet at their fingertips, they can do research on products before heading out to any stores.
Because the online world makes a wealth of knowledge available to them, consumers have shifted from being single decision-makers to being influenced by their community. They also want to know that their expectations will be met for the life of a product or service.
This has changed the selling landscape for jewelers, said Kate Peterson, owner of Performance Concepts and a member of the board of directors of the Diamond Council of America. Retailers need to emphasize the value of a product to the consumer before they begin selling, which requires recognizing what the consumer is looking for and catering to their evolving desires.
On Wednesday, Peterson spoke at a seminar at the American Gem Trade Association’s GemFair called “The Color of Money: Turning Consumers Trends into Profit,” where she highlighted consumer trends for the coming year and how they can be translated into revenue for retailers.
Trend watch for 2014
The consumer trends that Peterson outlined that will be important in 2014 are as follows.
1. Guilt-free status. Consumers are back to wanting to spend money, but they don’t want to feel guilty about what they’re spending money on, and they’re looking for retailers to deliver that fix, Peterson said. Products and services that provide this to shoppers must be known by all--iconic brands that are instantly recognizable symbols of sustainability--products that are visibly guilt-free, or a storied product that, if it isn’t known or visible, has a guilt-free story to tell. Stocking these kinds of products can give a jeweler a leg up, she said.
2. Crowd-shaped. This year, even more consumers will pool their preferences to create new goods and services. This means that the technologies that facilitate the sharing of such information and data, such as Google Glass, will be more prevalent. Consumer expectations will also rise again due to that increasing presence. Peterson noted that, at the jewelry level, consumer surveys would be a great way for retailers to find out what their customers like. “They expect stores to know preferences, so take the time to find out,” she said.
3. Being eco-conscious. A product that takes previously used items and recycles them responsibly and innovatively really speaks to consumers these days. While they
likely won’t make a decision based solely on this, carrying such items could give jewelers a competitive edge.
4. Personal enhancement. Consumer interests in self-enhancement products will continue to grow this year. While they’re still focusing on physical health, they’re also looking more at total lifestyle assistance, including products that help improve mental, emotional and spiritual well-being, which is where colored stones could play a big part. With all the information out there about what colored gemstones could offer in health terms, jewelers should research this and be able to talk about it with their clients.
5. Celebrating heritage. Emerging markets are now proudly celebrating their national and cultural heritage, where symbols, lifestyles and traditions that were previously downplayed are being brought up-to-date. Consumers have a much bigger global view these days, and will respond to products that explore culture and backgrounds or tell a story, Peterson said.
6. Made in America. Demand for products made in the United States has seen a resurgence, which has been made possible by the spread of local manufacturing technologies.
7. Being human. Today’s consumers respond better to brands show their flaws and admit when a mistake has been made. For jewelers, this could mean reinventing themselves and the way they’re doing business, Peterson said.
8. Real-time reviews. With technology at their fingertips and as many review websites as they could wish for, consumers today are giving instant feedback. It will happen no matter what, Peterson said, so jewelers should pay attention and keep track of what’s being said about their business online. Additionally, retailers “can’t be afraid to ask for this kind of referral business,” Peterson said. Positive reviews are picked up quickly by consumers online.
In providing these eight trends, Peterson noted that not all of them will be relevant. Jewelers should decide on which trends to focus and apply them to their business.
Translating trends to sales
So, what do these trends mean for jewelers?
In order to stand out in today’s competitive market, retailers must be agile and innovative, anticipating customers’ needs and wants, Peterson said. She suggested focusing on teaching selling skills rather than just the sales process, as well as justifying the customer’s expectation of value of a product rather than simply closing the deal.
It’s also important to understand the personal value of the piece to the customer and to look for the value trigger, selling what the jewelry “does” and not what it “is,” a technique that can be learned through sales training classes. A focus on how the piece connects with the client--instead of just a list of product information and a price--is key in today’s retail environment, she said.
More on Other
The Latest
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
FinancialsJul 16, 2025
Richemont’s Jewelry Sales Up 7% in Q1It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
