AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink DiamondMaking its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.
Events & AwardsJun 04, 2018
Live From Las Vegas: Industry’s Level of Optimism ‘Striking’
JCK Events shared highlights from its new State of the Industry Jewelry Report, which found that many in the industry are feeling positive right now.
Yancy Weinrich, who heads the JCK jewelry shows, presented the results of a recent jeweler survey at a breakfast held Friday morning, before the opening of the 2018 edition of JCK Las Vegas.
Las Vegas--If one recent survey is any indication, the industry is feeling pretty optimistic right now.
JCK Events conducted a survey in conjunction with GfK this spring and created a report based on the findings, the 2018 JCK State of the Industry Jewelry Report.
On Friday morning in Las Vegas, Reed Jewelry Group Senior Vice President Yancy Weinrich shared select highlights from the report at a breakfast held before the jewelry trade shows opened for the day.
Performed in February and March, the survey included feedback from 549 respondents. Most of them were retailers, but survey-takers also included manufacturers and wholesalers as well as some jewelry designers.
Weinrich added that 79 percent of the respondents have been in the industry for more than 11 years, meaning they’ve weathered changes before and bring a long-term perspective to the results.
When looking at the results, she said they discovered a “level of optimism about individual business prospects and the overall direction of the general economy that was striking.”
Though the male respondents were slightly more optimistic than the females, the overall sentiment was positive by a margin of two to one.
In fact, Weinrich said the confidence in the industry and future outlook for the general economy far outstrips that of the general public. Forty-six percent of those who took the jewelry survey said the economy was doing better in the last 12 months, which was nearly twice as many as who said the same in the population at large.
Those expecting continued improvement in the next year are slightly fewer than that, but still outnumber the American public by almost 50 percent.
She said the industry is “overwhelmingly positive” about the likely effects of the recent tax overhaul, with only 13 percent concerned it might hurt the economy.
In questions of trade policy, however, there was more caution and concern; more respondents were worried the changes in the policy toward the Asia-Pacific region, in particular, might hurt the economy.
Nevertheless, the industry sentiment, according to the survey, seems to be positive, especially when it comes to respondents’ own businesses.
Coinciding with the release of the survey, JCK Events introduced a number designed to reflect the state of the industry: the 2018 JCK Jewelry Industry Confidence Index, which will be based on the percentage of jewelers who express optimism regarding their stores.
For the first measure of the index, when
asked how optimistic they were about their own businesses over the next 12 months, 88 percent of retailers said they were either somewhat or very optimistic.
“This is a number that we’re eager to watch over the years, testing its resilience and learning about the attitudes of our professionals in the jewelry industry over time,” Weinrich said.
When it comes to the industry’s biggest challenges, the most commonly mentioned were: online competition, overall economic climate, a lack of general consumer demand and a lack of millennial demand.
According to the survey, the top strategy for dealing with these challenges is improving the in-store buying experience, which “shows that retailers particularly believe that buying jewelry is not something that can only migrate to the virtual world,” she said.
Even with the larger number of brick-and-mortar stores closing, many in the industry aren’t behind going all-in on e-commerce, as buying jewelry goes beyond product to also include seeing and feeling pieces in person, becoming educated and being guided by a trusted professional.
The industry also is turning toward non-traditional advertising and social media as ways to drive the consumers into the store.
Eighty-one percent of survey-takers ranked social media marketing as one of their most successful business practices, while 90 percent indicated they plan to increase their efforts in this area, with Facebook and Instagram dominating.
“Social media is obviously seen as a cost-effective front for taking on online competition,” Weinrich said.
The survey also delved into lab-grown diamonds.
Though only one in five respondents reporting selling the stones, those that are in the business reported that sales were good; 62 percent said sales were up in the last year, and 78 percent expect them to increase again in the coming year.
Also among the top trends for survey-takers was the sale of “responsibly sourced jewelry,” with 73 percent reporting that they sell it, and 49 percent reporting sales were up year-over-year in 2017.
“While this may bolster the growth of blockchain in the industry in the immediate future, it also provides a foothold for lab-grown diamonds to leverage going forward,” Weinrich said.
Meanwhile, sales of watches and charms were “visibly down” from 2016 to 2017, with the former being affected by the disruption of smartwatches and wearable tech, while sales of custom pieces were up 59 percent among respondents as the customization trend across all consumer categories picks up.
The full version of the 2018 JCK State of the Industry Jewelry Report can be purchased at JCKLasVegas.com/IndustrySurvey.
“This is a number that we’re eager to watch over the years, testing its resilience and learning about the attitudes of our professionals in the jewelry industry over time,” Weinrich said.
When it comes to the industry’s biggest challenges, the most commonly mentioned were: online competition, overall economic climate, a lack of general consumer demand and a lack of millennial demand.
According to the survey, the top strategy for dealing with these challenges is improving the in-store buying experience, which “shows that retailers particularly believe that buying jewelry is not something that can only migrate to the virtual world,” she said.
Even with the larger number of brick-and-mortar stores closing, many in the industry aren’t behind going all-in on e-commerce, as buying jewelry goes beyond product to also include seeing and feeling pieces in person, becoming educated and being guided by a trusted professional.
The industry also is turning toward non-traditional advertising and social media as ways to drive the consumers into the store.
Eighty-one percent of survey-takers ranked social media marketing as one of their most successful business practices, while 90 percent indicated they plan to increase their efforts in this area, with Facebook and Instagram dominating.
“Social media is obviously seen as a cost-effective front for taking on online competition,” Weinrich said.
The survey also delved into lab-grown diamonds.
Though only one in five respondents reporting selling the stones, those that are in the business reported that sales were good; 62 percent said sales were up in the last year, and 78 percent expect them to increase again in the coming year.
Also among the top trends for survey-takers was the sale of “responsibly sourced jewelry,” with 73 percent reporting that they sell it, and 49 percent reporting sales were up year-over-year in 2017.
“While this may bolster the growth of blockchain in the industry in the immediate future, it also provides a foothold for lab-grown diamonds to leverage going forward,” Weinrich said.
Meanwhile, sales of watches and charms were “visibly down” from 2016 to 2017, with the former being affected by the disruption of smartwatches and wearable tech, while sales of custom pieces were up 59 percent among respondents as the customization trend across all consumer categories picks up.
The full version of the 2018 JCK State of the Industry Jewelry Report can be purchased at JCKLasVegas.com/IndustrySurvey.
More on Events & Awards
The Latest
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby MineThey were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
SourcingOct 20, 2025
Pristine Gems Names New Director of European SalesGemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
AuctionsOct 16, 2025
Sotheby’s Introduces Custom Jewelry ServiceThe new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.
MajorsOct 16, 2025
Oscar Heyman’s Holiday Catalog Is Out, and It’s SpectacularThe holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ CollectionThe brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
CrimeOct 15, 2025
Men Receive Lengthy Prison Sentences for 2023 Murder of Colorado JewelerCharles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.
Events & AwardsOct 15, 2025
JCK, Luxury to Debut New Watch Section in Vegas Next YearTimepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.
AuctionsOct 15, 2025
Christie's Announces New Jewelry Department LeadershipThe auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.
IndependentsOct 14, 2025
Retailer Hall of Fame 2025: Tom DixonAs chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.
Events & AwardsOct 14, 2025
Here Are the Winners of the BIJC, JA ‘Emerging Jewelers’ Grant Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.
IndependentsOct 14, 2025
Day’s Jewelers Crafts Custom Jewelry for No.1 NBA Draft Pick Cooper FlaggThe parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.
SourcingOct 14, 2025
Pragnell Debuts Kitulo Garnet Jewelry The UK-based brand sourced the gemstones, which are fully traceable, from an artisanal mining community in Tanzania.
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
