SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
OtherDec 21, 2015
Changing Times: A Multiple-Choice Quiz
Columnist Jan Brassem pens another pop quiz, this one testing readers’ knowledge of the times, which he acknowledges are a-changin’.
Jan Brassem is a senior partner at MainBrace Global Partners, a jewelry advisory and & firm with offices in New York and Hong Kong.
Remember that old, iconic Bob Dylan tune, The Times They are a-Changin’?
I’ve been in the jewelry industry for decades, and can’t remember a time when there were so many political, global, social and economic uncertainties--some exceedingly enigmatic --facing the industry.
But wait, there’s more. No matter what ambiguities you encounter, or what you’ll do about them, it never seems to be the right “answer.” Today’s uncertainties always seem to be growing, changing and moving in the wrong speed or direction. They have become “moving targets.”
Makes you feel like you’re just howling at the moon sometimes.
The changing customer demographics is a case-in-point. The growing economic power of Generation Y, (a/k/a, Gen Y or the Millennials), 74 to 100 million consumers, born between 1978 and 2000, is expected to be a powerful economic force.
In case you didn’t know, the Gen Y’ers are forecast to purchase, directly or indirectly, $200 billion in goods or services a year, five times more than their parents did at their age. There are now more Gen Y’ers than Baby Boomers, and they will represent 50 percent of the total U.S. work force by 2017. Oh, did I mention, within the next five years, the biggest revenue source for any industry is forecast to come from the Gen Y consumer.
No matter what consumer authority you talk to, it is agreed that the Gen Y consumer is technologically sophisticated, considering that many of them probably used a computer before their first day of school. The computer became their “training wheels” so to speak. They are the “Internet generation.”
So it’s no surprise that the tech-savvy Millennials have earmarked a good part of that $200 billion for electronics. Consequently, iPads, iPhones, iPods, smartwatches and who knows what else have usurped much of their discretionary spending. Many retail authorities suggest the siphoning was at the expense of the basic jewelry store/chain.
In addition to the buying power of the millennials, here are 10 questions that test your knowledge of some of the other trends confronting jewelers today. If you know about them, start planning to minimize, or maximize, their effect on your store or operation. If you’re unfamiliar with some of these trends, you’ve got work to do.
Please answer the questions as best you can. The answers follow with a brief reference/explanation or are self-explanatory.
Quiz (Choose either A, B or C)
1.
Over the summer, China, the world’s largest trading country, devalued the Yuan Renminbi, their official currency. What effect will that have on U.S. purchases from China?
A. No effect
B. It will make Chinese products cheaper.
C. It will make Chinese products more expensive.
2. Where is the largest, annual overseas jewelry/watch trade show?
A. HTDC International Jewelry Show, Hong Kong
B. Baselworld Watch and Jewellery Show, Switzerland
C. Bangkok Jewelry Fair, Thailand
3. According to leading world-class executives, including Warren Buffett, “a growth strategy that is faster, cheaper and less risky than organic expansion, despite the challenges” is?
A. Inventory substitution
B. Acquiring or merging with other businesses
C. Buying inventory in Asia
4. L2, a well-known, member-based business intelligence firm that benchmarks the digital performance of brands, put Tiffany & Co. where on its 2015 ranking of specialty retail brands?
A. 1st
B. 9th
C. 13th
5. Seeking to broaden their customer base by lowering their retail price while at the same time retaining their cachet, luxury brands have more than trebled their customers, according to Bain & Company. Spending on jewelry, watches, etc. has risen at double the rate of global GDP. Most of these new buyers are not the very rich but the merely prosperous, with incomes of up to $188,000.
According to The Economist, which brand led the movement to lower retail prices?
A. Rolex
B. Cartier
C. Breitling
6. Recent research by Stanford University on consumer decision-making has examined if people are able to make better purchase choices using the new Internet environment. Does this research mean that brands will become less important to consumer in the future?
A. Yes
B. Too early to tell
C. No
7. Last month, Boston’s RR Auction Company sold the one and only lunar-landing watch held in private hands: Commander David Scott’s Bulova Prototype, which was worn on his third and final moonwalk of 1971’s Apollo 15 mission. How much did it sell for?
A. $50,000
B. $1.6 million
B. $1,500
8. There are many types of analytical tools, such as statistical analysis and behavior “coding,” to name two. In the groundbreaking Analytics at Work, Davenport, Harris and Morison argue that using analytics can help to determine new product offerings and where to effectively employ marketing dollars. However, their research suggests that important decisions frequently are not based on analytical skill but rather on one’s “gut” feeling. According to their research, what percentage of the time are decisions based on “gut” feelings?
A. 90 percent
B. 40 percent
C. 20 percent
Answers, including sources
1. B
http://blogs.wsj.com/briefly/2015/08/10/5-things-about-chinas-currency-devaluation/
2. B
Research by MainBrace Global Partners
3. B
Rules to Acquire By Bruce Nolop in Harvard Business Review, www.hbr.org
4. B
http://www.l2inc.com/brand-rankings
5. B
6. B
http://www.gsb.stanford.edu/insights/itamar-simonson-do-brands-still-matter-online-shoppers
7. B
http://nypost.com/2015/11/05/this-1-6m-watch-went-to-the-moon/
8. B
Analytics at Work for Smarter Decisions and Better Results by Thomas Davenport, Jeanne Harris and Robert Morison, Harvard Business Press, www.hbr.org/books
Jan Brassem is a senior partner at MainBrace Global Partners, a jewelry advisory and M&A firm with offices in New York and Hong Kong. E-mail him at Jan@MainBraceGlobalPartners.com.
A. No effect
B. It will make Chinese products cheaper.
C. It will make Chinese products more expensive.
2. Where is the largest, annual overseas jewelry/watch trade show?
A. HTDC International Jewelry Show, Hong Kong
B. Baselworld Watch and Jewellery Show, Switzerland
C. Bangkok Jewelry Fair, Thailand
3. According to leading world-class executives, including Warren Buffett, “a growth strategy that is faster, cheaper and less risky than organic expansion, despite the challenges” is?
A. Inventory substitution
B. Acquiring or merging with other businesses
C. Buying inventory in Asia
4. L2, a well-known, member-based business intelligence firm that benchmarks the digital performance of brands, put Tiffany & Co. where on its 2015 ranking of specialty retail brands?
A. 1st
B. 9th
C. 13th
5. Seeking to broaden their customer base by lowering their retail price while at the same time retaining their cachet, luxury brands have more than trebled their customers, according to Bain & Company. Spending on jewelry, watches, etc. has risen at double the rate of global GDP. Most of these new buyers are not the very rich but the merely prosperous, with incomes of up to $188,000.
According to The Economist, which brand led the movement to lower retail prices?
A. Rolex
B. Cartier
C. Breitling
6. Recent research by Stanford University on consumer decision-making has examined if people are able to make better purchase choices using the new Internet environment. Does this research mean that brands will become less important to consumer in the future?
A. Yes
B. Too early to tell
C. No
7. Last month, Boston’s RR Auction Company sold the one and only lunar-landing watch held in private hands: Commander David Scott’s Bulova Prototype, which was worn on his third and final moonwalk of 1971’s Apollo 15 mission. How much did it sell for?
A. $50,000
B. $1.6 million
B. $1,500
8. There are many types of analytical tools, such as statistical analysis and behavior “coding,” to name two. In the groundbreaking Analytics at Work, Davenport, Harris and Morison argue that using analytics can help to determine new product offerings and where to effectively employ marketing dollars. However, their research suggests that important decisions frequently are not based on analytical skill but rather on one’s “gut” feeling. According to their research, what percentage of the time are decisions based on “gut” feelings?
A. 90 percent
B. 40 percent
C. 20 percent
Answers, including sources
1. B
http://blogs.wsj.com/briefly/2015/08/10/5-things-about-chinas-currency-devaluation/
2. B
Research by MainBrace Global Partners
3. B
Rules to Acquire By Bruce Nolop in Harvard Business Review, www.hbr.org
4. B
http://www.l2inc.com/brand-rankings
5. B
6. B
http://www.gsb.stanford.edu/insights/itamar-simonson-do-brands-still-matter-online-shoppers
7. B
http://nypost.com/2015/11/05/this-1-6m-watch-went-to-the-moon/
8. B
Analytics at Work for Smarter Decisions and Better Results by Thomas Davenport, Jeanne Harris and Robert Morison, Harvard Business Press, www.hbr.org/books
Jan Brassem is a senior partner at MainBrace Global Partners, a jewelry advisory and M&A firm with offices in New York and Hong Kong. E-mail him at Jan@MainBraceGlobalPartners.com.
More on Other
The Latest
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
