Other

Time for Action: A Multiple-Choice Quiz

OtherFeb 16, 2016

Time for Action: A Multiple-Choice Quiz

In his latest quiz, columnist Jan Brassem explores how developments in technology over the past year are impacting the fine jewelry sector.

Not that long ago, I was a part-time, antediluvian professor at a well-known university. I frequently gave pop quizzes to make sure the students didn’t use the same superficial study techniques I did when I was in college, which were reflected in my final grades. (As a student, I did not let studying interrupt my girl-chasing, fraternity life or beer parties.)


Jan BrassemMy students enjoyed the quizzes. They said they were fun and quick and, for those who had to guess the answers, the quizzes gave them a 33.3 percent chance of being right.

Anyway, following is the third in series of quizzes not for college students but for those in the jewelry industry. This one will focus, more or less, on the events and developments of 2015 and the possible impact they could have on 2016 and beyond. I’ll leave the insight on the future up to you.

I did try to focus, though, on the shadow that is being caused by the tech industry, i.e. fitness trackers, iPhone, iPad, iPod, smartwatches and the overall, emerging wearable technology trend. It seems to me--and as you’ll see below--that the growth of the tech craze is coming at the expense of the jewelry and watch industries.

It might be worthwhile to assemble a committee/group of industry thought-leaders (as the diamond and gold councils have done in the past) to develop a contra-strategy before the growth of the entire smart device industry gets out of hand.

Who’s going to lead the initiative?

Quiz (Circle either A, B or C)

1. When there is a crude oil price slump (today in the U.S. we are staring at oil prices in the $60 to $70 per barrel range, or maybe even lower), it is reasonable to expect the gold price to move in what general direction?
A) Higher
B) Lower
C) There is no relationship.

2. Over the last few years, writes Indian jewelry analyst Beejoli Shah, tech gadgets of all kinds, even smart home thermostats that can cost as much as a fine diamond bracelet, have become extremely popular among consumers. It seems, writes Shah, that the consumer’s demand for these tech products and their widespread availability has “upset the market for jewelry.” Due to this trend, what has been showing up under the Christmas tree less and less over the last few years?
A) Diamond jewelry
B) Ham sandwiches with mustard

C) Bicycles

3. In an effort to expand its retail channels and simultaneously clear out Apple Watch inventory ahead of the rumored second-generation launch of the device, Apple is now selling its smartwatch where? 
A) Walmart
B) Target
C) Both A and B

4. Most jewelry store owners and/or their families want to grow the family business by boosting their brand, discovering new uses of marketing technology, becoming more competitive by blocking competitors and recruiting talented employees. David Braun, a leading corporate strategist, writes that the best and smartest technique to grow a business is to …
A) Read lots of business literature
B) Develop a systematic acquisition strategy
C) Frequently revamp the showcase

5. Though Apple remains tight-lipped regarding the exact numbers of smartwatch units sold worldwide, company numbers released in October indicate the Apple Watch accounted for $1.7 billion in sales for fiscal 2015. How many Apple smartwatches do industry experts assume will be shipped globally in 2016?
A) 2 million units
B) 21 million units
C) 219 million units

6. With the assistance of UPS, FedEx and … hold on … the U.S. Postal Service, Amazon has developed its Amazon Prime initiative. For a modest annual subscription fee, the subscriber receives free two-day delivery for his/her purchases in a wide variety of categories as well as unlimited streaming of movies and TV shows with Prime Video. Does fine jewelry qualify under the program?
A) No
B) Yes
C) What is Prime again?

7. A key economic indicator measured by the University of Michigan increased in January 2016 to 93.3 from 92.6 in December 2015. The results were above market forecasts and driven by improved future expectations. This was the highest figure for this indicator since June 2015. What was this key economic indicator measuring?
A) Consumer confidence
B) Expectations for the 2016 Michigan football team
C) The projected popularity of the next Taylor Swift album

8. In study on the worldwide wearables technology market, Willa Plank and Tristan Wyatt “predict(ed) that device-makers will soon offer more holistic systems--including clothing and embedded sensors,” providing consumers more constructive lifestyle advice. What percentage do they forecast watches will capture of the total 2016 worldwide wearable devices market?
A) 12.2 percent
B) 112.1 percent
C) 48.2 percent

Answers (including sources)
1.
B. JM Bullion

2.
A. Forbes

3.
C. 9To5Mac.com

4.
B. Successful Acquisitions by David Braun, American Management Association

5.
B. IndianExpress.com

6.
B. Amazon.com

7.
A. University of Michigan

8.
C. The Wall Street Journal, Jan. 14, 2015, p. B5

Jan Brassem is a senior partner at MainBrace Global Partners, a global jewelry advisory and M&A firm with offices in New York and Hong Kong. You can e-mail him at Jan@MainBraceGlobalPartners.com.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

GIA iD100® Technology
Supplier BulletinJul 03, 2025
Protect Your Customers and Your Business

Sponsored by the Gemological Institute of America

Madison Keys in Brilliant Earth campaign
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New Ambassador

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

Muse Nordstrom shop-in-shop
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry Hall

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Shree Ramkrishna Exports
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-Negative

This past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.

Weekly QuizJul 02, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Yeprem Golden Strada Statement Necklace
CollectionsJul 03, 2025
Piece of the Week: A Firework of Diamonds From Yeprem

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.

Stock image of police cars with their lights on
CrimeJul 03, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in Burglaries

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Exterior and entryway of Boucheron’s Los Angeles Flagship
MajorsJul 02, 2025
Boucheron Looks to LA for First West Coast Flagship

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

Exterior of Marco Bicego Milan Flagship
MajorsJul 02, 2025
Marco Bicego Opens Milan Flagship

The new location continues the brand’s celebration of its 25th anniversary.

Chrono24 Time Is Our Thing campaign image
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New Campaign

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Bernadette Mack
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive Director

She will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.

Counterfeit Pandora jewelry in bags and boxes
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry Network

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

Cast Issa Rae
MajorsJul 01, 2025
Cast Closes Business, Plans for Relaunch

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

Eve Goldberg, Matthew Denatale, Willie Lopez, Benjamin Goldberg
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship Program

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

Elie Hannoush
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

Claire’s store
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report Says

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Mindi Mond Spike Earrings
TrendsJul 01, 2025
Amanda’s Style File: Red Hot Rubies

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

The Story of Everything Campaign, Toadstool Mushroom and Cosmic Egg
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

Smart Age Solutions CEO Emmanuel Raheb
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry Sales

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

Morgan Keefe
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education Scholarship

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

The Jewelry Book
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry

“The Jewelry Book” comes out this September.

Gemist
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech Platform

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Jeff Preolo, David Stout, Levi Higgs, David Benavides
IndependentsJun 27, 2025
David Webb Announces New Hires, Promotions

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

Blake Graham and Jessica Kohoutek
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner

AGS also named the recipient of its “Women in Leadership” scholarship.

Buddha Mama Monstera Ring
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap Ring

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Cashier handing Rocksbox bag to customer
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers Downsizes

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy