MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
EditorsJan 11, 2017
3 Retail Predictions for 2017
There’ll be continued consolidation and a desire to experience and access, but not necessarily own, things.
Continued retail consolidation, consumers’ desire for experiences and the acceleration of the “access” economy are three predictions National Jeweler’s editor-in-chief is making for 2017.
Hello, and Happy New Year. I hope that 2017 is treating you well so far.
Before 2016 ended, I rounded up the six stories I thought had the biggest impact on the jewelry market last year. Now, I offer three predictions for the year ahead.
If you have thoughts or predictions of your own, please email me or leave them in the comments below.
1. Retailers, including big chains, will continue to close. My brother worked at Sears selling ceiling fans when we were teenagers back in the 1990s. The store wasn’t very busy then, and it’s even less so now.
Sears is, or was, the place for Craftsman tools and … well, that’s actually a hard to blank to fill in because I really don’t know what exactly people would go to Sears for that they couldn’t get at Best Buy or Macy’s or Home Depot or Amazon. And that’s one of the biggest reasons this year could mark the sad end for an American institution that started as a mail-order catalog business in 1886: After losing ground for years, it never established a modern identity.
Sears won’t be the only retailer shutting down or, at the very least, consolidating in 2017, continuing a pattern that accelerated in 2016.
It’s only Jan. 10, and we’ve already seen women’s clothing retailer The Limited announce that it’s shutting down its stores and going online, and it seems likely American Apparel also will close all its stores.
In the jewelry sector, a total of 895 jewelry stores in the U.S. and Canada had shuttered by the end of the third quarter.
While there has been some discussion on Facebook lately pointing out that some of those are jewelers who switched to by-appointment or custom only, the closures still vastly outnumber the amount of new businesses opening.
In Q3, the 895 closures represented a 46 percent year-over-year increase. The number of retailers that opened in the U.S. and Canada in that same time period totaled 51, down from 62 the previous year.
In an interview last year, I asked JBT President and CEO Anthony Capuano if he sees the trend of store closures reversing itself anytime soon. He said no, adding later in the conversation that, “Retailers are really fighting for those dollars because they are fighting a whole pattern of purchasing,” meaning increased competition brought on by the internet and consumers’ changing tastes and desires (more on that below).
“You
Editors' Picks
Sponsored by
just have to be really good to survive and prosper.”
2. The experiences will continue to be important. I’ve seen two commercials (likely caught between quarters of the Steelers’ dominating late-season run) recently that speak directly to consumers desire to do stuff instead of having stuff.
The first was for a retirement fund and the second was from Groupon, which is encouraging people to “own the experience.”
{youtube}JZkFmYrdn-A{/youtube}
In the spot, Groupon draws a line between the “haves,” people who spend their money on cars or lavish and extremely elevated bathtubs, and the “have dones,” those who spend their money on experiences, such as aerial yoga and dinners (presumably using Groupon).
Groupon launched the multi-million national advertising campaign back in May and the company’s head of marketing for North America told the Chicago Tribune that the idea behind the campaign is to expand the company’s customer base, attracting millennials, who are known to value experience over “things,” in particular.
If a consumer decides to spend money on an African safari instead of a diamond ring, I am afraid there’s not much a jeweler can do.
What they can do, however, is provide a great retail experience to the customers who are choosing jewelry over experiences.
National Jeweler columnist Peter Smith detailed three stores that are doing just that in his latest column.
3. We will see the acceleration of the “access economy.” One of my new year’s resolutions this year is to try out new things, and also to work less and enjoy life more.
Regarding the former, I am doing well thus far. I ate at a new restaurant last night and ordered from Rent the Runway for the first time.
For those of you who are not familiar, Rent the Runway is an e-commerce company (with a budding brick-and-mortar presence) that specializes in renting out dresses, jewelry and other accessories for special occasions.
Rent the Runway is part of what was once known as the sharing economy but now is called the “access economy.”
The access economy refers to goods and services being traded on the basis of access rather than ownership, a trend that has been fueled by technology. Two good examples are, as mentioned above, Rent the Runway, which gives its customers access to formal wear without having to pay full price for it, and Zipcar, which allows people to be able to use cars without having to pay to buy and maintain them.
The access economy has also consumed the music industry, as people pick streaming over buying albums in record numbers, no pun intended.
Companies like Rent the Runway and others that are part of the access economy seem poised to pick up steam in 2017.
RTR recently got $60 million from investors and will use some of that money to open stores, while Uber, Airbnb and Spotify are among the tech companies rumored to be going public in the coming year.
In some respects, fine jewelry falls outside the sphere of the access economy. No one, for example, wants to rent their engagement ring and send it back the day after their wedding.
But I think there definitely is a market for a website that rents out high-end pieces for special occasions.
Back in September, we wrote about Adorn, a website that does just this and is currently looking for a buyer.
So, if you made the same New Year’s resolution as I did this year--to try new things--maybe this is your chance.
2. The experiences will continue to be important. I’ve seen two commercials (likely caught between quarters of the Steelers’ dominating late-season run) recently that speak directly to consumers desire to do stuff instead of having stuff.
The first was for a retirement fund and the second was from Groupon, which is encouraging people to “own the experience.”
{youtube}JZkFmYrdn-A{/youtube}
In the spot, Groupon draws a line between the “haves,” people who spend their money on cars or lavish and extremely elevated bathtubs, and the “have dones,” those who spend their money on experiences, such as aerial yoga and dinners (presumably using Groupon).
Groupon launched the multi-million national advertising campaign back in May and the company’s head of marketing for North America told the Chicago Tribune that the idea behind the campaign is to expand the company’s customer base, attracting millennials, who are known to value experience over “things,” in particular.
If a consumer decides to spend money on an African safari instead of a diamond ring, I am afraid there’s not much a jeweler can do.
What they can do, however, is provide a great retail experience to the customers who are choosing jewelry over experiences.
National Jeweler columnist Peter Smith detailed three stores that are doing just that in his latest column.
3. We will see the acceleration of the “access economy.” One of my new year’s resolutions this year is to try out new things, and also to work less and enjoy life more.
Regarding the former, I am doing well thus far. I ate at a new restaurant last night and ordered from Rent the Runway for the first time.
For those of you who are not familiar, Rent the Runway is an e-commerce company (with a budding brick-and-mortar presence) that specializes in renting out dresses, jewelry and other accessories for special occasions.
Rent the Runway is part of what was once known as the sharing economy but now is called the “access economy.”
The access economy refers to goods and services being traded on the basis of access rather than ownership, a trend that has been fueled by technology. Two good examples are, as mentioned above, Rent the Runway, which gives its customers access to formal wear without having to pay full price for it, and Zipcar, which allows people to be able to use cars without having to pay to buy and maintain them.
The access economy has also consumed the music industry, as people pick streaming over buying albums in record numbers, no pun intended.
Companies like Rent the Runway and others that are part of the access economy seem poised to pick up steam in 2017.
RTR recently got $60 million from investors and will use some of that money to open stores, while Uber, Airbnb and Spotify are among the tech companies rumored to be going public in the coming year.
In some respects, fine jewelry falls outside the sphere of the access economy. No one, for example, wants to rent their engagement ring and send it back the day after their wedding.
But I think there definitely is a market for a website that rents out high-end pieces for special occasions.
Back in September, we wrote about Adorn, a website that does just this and is currently looking for a buyer.
So, if you made the same New Year’s resolution as I did this year--to try new things--maybe this is your chance.
More on Editors
The Latest
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
IndependentsFeb 05, 2026
Borsheims to Undergo Massive Renovation in the Spring The Omaha jewelry store’s multi-million-dollar renovation is scheduled to begin in mid-May and take about six months.
