• Trusted Suppliers
  • Artisans Gallery
  • Shows
  • Directory
    • Gemstones Suppliers
    • Rough Stone Suppliers
    • Silver Jewelry Suppliers
    • Gold Jewelry Suppliers
    • Artificial Jewelry Suppliers
    • Kundan Meena Jadau Jewelry
    • Jewelry Findings Suppliers
    • Jewelry Alloy Suppliers
    • Tools & Machinery Suppliers
    • Labs & Institutes
    • CAD/CAM
  • News & Trends
    • Industry
    • Retail
    • Fashion
    • Diamond
    • Color Stone
    • Pearls
    • Gold
    • Silver
    • Watches
    • Bridal
    • Whats Hot
    • Shows & Events
  • Jewelry Information Center
    • About Gemstones
    • Ring Size Guide
    • Jewelry Care
    • Stone Weight Chart
    • Learn About CAD/CAM
    • Jewelry Photography Tips
    • Online Selling Tips
    • World Famous Diamonds
    • Utilities & Softwares for Jewelers
    • Global Jewelry Association
    • Jobs for jewelers
Search
Jewelry Magazine Online Jewelry Magazine Online The Jewelry Magazine
  • Trusted Suppliers
  • Artisans Gallery
    • MOSE AND INES ARENAS: "JEWELRY CURATORS"
      Artisans Gallery

      MOSE AND INES ARENAS: “JEWELRY CURATORS”

      Sanjay Soni
      Artisans Gallery

      ISHITA JEWELLERS

      Surendra Kumar Anand Kumar Soni
      Artisans Gallery

      Surendra Kumar Anand Kumar Soni

      attar-singh
      Artisans Gallery

      Journey of a Jewel – Kundan Jewellery Artisan : Attar Singh…

      Artisans Gallery

      SHIMLESH VYAS, THE ARTIST AS IDEALIST

  • Shows
    • Carats 2025 Scales Down Amid Industry Headwinds, Moves to Boutique Venue
      Shows & Events

      Carats 2025 Scales Down Amid Industry Headwinds, Moves to Boutique Venue

      OROAREZZO, Starting Tomorrow With Italian Minister Of The Interior, Matteo Piantedosi
      Shows & Events

      OROAREZZO, Starting Tomorrow With Italian Minister Of The Interior, Matteo…

      Discover Exclusive Business Perks at RX Japan’s International Jewellery Kobe
      Shows & Events

      Discover Exclusive Business Perks at RX Japan’s International Jewellery Kobe 2025

      Isha Ambani Commands Attention at Met Gala 2025 in $150 Million Cartier Masterpiece
      Shows & Events

      Isha Ambani Commands Attention at Met Gala 2025 in $150 Million…

      Hong Kong Jewellery Show 2025: A Market in Transition
      Shows & Events

      Hong Kong Jewellery Show 2025: A Market in Transition

  • Directory
    • Gemstones Suppliers
    • Rough Stone Suppliers
    • Silver Jewelry Suppliers
    • Gold Jewelry Suppliers
    • Artificial Jewelry Suppliers
    • Kundan Meena Jadau Jewelry
    • Jewelry Findings Suppliers
    • Jewelry Alloy Suppliers
    • Tools & Machinery Suppliers
    • Labs & Institutes
    • CAD/CAM
  • News & Trends
    • Industry
    • Retail
    • Fashion
    • Diamond
    • Color Stone
    • Pearls
    • Gold
    • Silver
    • Watches
    • Bridal
    • Whats Hot
    • Shows & Events
  • Jewelry Information Center
    • About Gemstones
    • Ring Size Guide
    • Jewelry Care
    • Stone Weight Chart
    • Learn About CAD/CAM
    • Jewelry Photography Tips
    • Online Selling Tips
    • World Famous Diamonds
    • Utilities & Softwares for Jewelers
    • Global Jewelry Association
    • Jobs for jewelers
Home News & Trends Color Stone 5-Year Plans: Jewelers on Their Ever-Evolving Industry
  • News & Trends
  • Color Stone
  • Diamond
  • Whats Hot
  • Latest Release
  • Silver

5-Year Plans: Jewelers on Their Ever-Evolving Industry

November 26, 2016
47432
Share on Facebook
Tweet on Twitter
At Vardy’s Jewelers

Surrounded by some of the globe’s most forward-thinking tech enterprises in Silicon Valley, Fanya Hull can’t help but think about tomorrow.

At Vardy’s Jewelers, Hull’s 35-year-old jewelry store located in Cupertino, Calif., less than one mile from Apple’s global headquarters, she monitors the future to better understand how consumer trends and sentiments, industry momentum, and global forces might affect her business in the present day.

“If you’re not considering what might be ahead, then you risk being stagnant,” Hull says.

For retailers like Hull, the future of the jewelry marketplace—the next five years in particular—presents a mixed bag of opportunities full of promise as well as challenges requiring a close eye and strategic planning. JCK spoke to a handful of retailers around the country about the issues that concern them most.

Millennials

As that generation has come of age in the past decade, retailers have bemoaned their seeming lack of interest in jewelry, predicting millennials would be the beginning of the end for brick-and-mortar jewelry stores.

Not so fast, says Dave Audette, co-owner of M.R.T. Jewelers in East Providence, R.I. Members of the millennial generation, which numbers some 80 million people in the United States, are interested in jewelry, though they do not fall victim to the traditional clichés.

“Millennials are buying jewelry; they’re just shopping differently,” Audette says.

Those shoppers, he adds, ask a lot of questions and seek genuine answers. They want to know about a diamond’s origin, the retailer’s backstory, why the store is selling rose gold rather than platinum. “They’re shrewd shoppers who want real info, not slogans or gimmicks.”

Beyond authenticity and openness, Audette thinks retailers must step out of their own comfort zones to capture millennials’ business. He notes, for example, that some are bypassing diamonds in engagement rings in favor of other options like pink sapphires.

“And if you don’t carry these things, you’d assume millennials aren’t buying,” Audette says. “You have to have the guts to inventory product you might not understand yourself, but products that might be an asset in your store.”

Over the next five years, millennials will wield significant purchasing power. By 2020, in fact, Accenture estimates that their retail spending will reach $1.4 trillion, accounting for nearly one-third of all purchases.

“And 2020, well, that’s just right around the corner,” Audette says.

Jill custom engagement ring in 18k yellow gold and platinum with a 3.52 ct. oval center diamond

Jill custom engagement ring in 18k yellow gold and platinum with a 3.52 ct. oval center diamond, 1 ct. t.w. round diamonds, and 0.4 ct. t.w. fancy yellow diamonds; price on request; Cynthia Britt, Boston; 857-239-9885; cynthiabritt.com

Digital Marketing

When one door closes, another opens. At least that’s how Sophie Shor, co-owner of Bridgewater, N.J.–based Roman Jewelers, looks at the current advertising marketplace. As consumers’ media consumption habits continue to shift, Shor says trust in traditional advertising media such as television, radio, and newspapers has weakened in favor of digital marketing, social media, and online recommendations. And this will only accelerate in the coming years, she maintains.

“The jewelry industry can sometimes be behind the curve adopting technology, pushing back until there’s no choice but to embrace it,” Shor says. “The sooner we embrace technology, though, the better we are.”

Roman Jewelers is currently active on Facebook, Pinterest, and Instagram and records tangible results from those efforts. Moving forward, the 27-year-old store will heighten its activity on YouTube, and Shor promises to put more financial resources behind “new wave” advertising opportunities.

“Digital marketing is much more cost-efficient than traditional advertising and allows us to connect with people in a more genuine way through comments and responses,” Shor says. “It’s constant work, there’s no question about that, but it’s important to our future.”

Necklace in 18k gold with 1.95 ct. pink tourmaline

Necklace in 18k gold with 1.95 ct. pink tourmaline, and 0.18 ct. t.w. pink, 0.21 ct. t.w. orange, and 0.09 ct. t.w. yellow sapphires; price on request; Carrera y Carrera, NYC; 212-753-8877; carreraycarrera.com

E-Commerce

While many retailers bemoan e-commerce, Shor sees e-commerce as a real—and necessary—opportunity for her store to capture buyers over the coming years. As consumers’ comfort level with shopping online increases, Shor says jewelry stores like hers need to prepare. “The public is ready and we need to be ready as well, or else we will be left behind.”

While Roman Jewelers does not currently have an e-commerce site, Shor continues to explore the option, reviewing other retailers’ online stores and talking with fellow industry operators to gather firsthand insights. She acknowledges that e-commerce is a significant investment, but one that could “put time on our side.”

Even though a number of jewelry retailers have seen lackluster sales from e-commerce ventures, online stores hold benefits beyond direct sales. Nearly 9 out of 10 millennials say having access to real-time information on product availability would influence the stores they choose to frequent, according to Accenture.

“It used to be your store windows were your window to the world; now, the Internet is a store window 24/7,” says Anthony Taitz, owner of Arlington, Va.–based Protea Diamonds.

Marcy custom ring in platinum with a 7 ct. cushion green tourmaline

Marcy custom ring in platinum with a 7 ct. cushion green tourmaline and 0.46 ct. t.w. diamonds; price on request; Cynthia Britt, Boston; 857-239-9885; cynthiabritt.com

Chains vs. Independents

Last year, 760 U.S.-based retail jewelers/repairers ceased operations, according to the Jewelers Board of Trade. The mounting number of independent closures coincides with growing momentum among the industry’s well-established chains.

“The major chains are getting better at what they do, and they combine that with technology, advertising dollars, and more resources than a 50-year-old independent could ever dream of,” Audette says.

The growing divide between single-store owners and chains is creating an increasingly complicated reality that some worry could drive up costs and intensify competition in a Darwinian race.

“Only the strongest survive,” says Akshay Andy Anand of Karats, an 11-year-old retail business in Overland Park, Kan. “You need to keep your eye on the ball, constantly innovating and looking at every aspect of your business. You can’t let anything slip away.”

Taitz says jewelry retailers must adapt and evolve, ditch redundant old practices, and become mindful of trending products such as rose gold and morganite.

“We all need to figure out what’s on the upswing and navigate this minefield,” says Taitz, whose company is celebrating its 30th anniversary this year.

Relevance is the name of the game—and relevance demands thoughtfulness and concentrated effort.

“You cannot think everyone is always going to want jewelry, so you need to promote your business in a way that makes sense for consumers,” Audette says.

Earrings in 18k rose gold with 10.5 cts. t.w. morganite

Earrings in 18k rose gold with 10.5 cts. t.w. morganite and 0.91 ct. t.w. diamonds; $11,259; Yael Designs, San Francisco; 415-989-9235; yaeldesigns.com

Niches and Specializations

“Complacency kills,” Anand warns, and in the coming years jewelry retailers will have to pioneer in whatever categories they choose to fill, establishing a niche or specialization that others cannot readily match.

Karats, for instance, has built its business on three legs: bridal, watches, and service. On the bridal side, Karats markets itself as Kansas City’s engagement ring destination and closely monitors styles and trends, which are then reflected in a robust inventory inside its 5,500-square-foot storefront.

“You cannot sustain yourself with only a few lines,” Anand says. “You have to provide customers with so much selection that you don’t lose the sale, all while being selective and shrewd with your buying.”

At Vardy’s, Hull continues to emphasize the shop’s reputation as a custom jeweler, confident that consumers will increasingly embrace one-of-a-kind pieces rather than mass-market reproductions. “People want something different and something no one else has.”

Long-standing independents, meanwhile, can make headway by leveraging their track record. In Marquette, Mich., for example, Jandrons Fine Jewelry continues to tout its 26-year reputation as a family-owned business rooted in honest, reliable service.

“This is something the Internet doesn’t have,” says Jandrons manager Jon Arntsen. “We’re the place people can come to make an educated purchase. We’re the ones who will sell the product, repair it, and maintain it. We need to make sure this is known.”

 

The Road Ahead

Five things retailers can do today to help drive a brighter future

help drive a brighter future

• Renovate: From fresh paint and new lighting to a complete overhaul, a remodel can modernize the store and attract a new clientele.

• Develop human capital: Invest in the strongest employees and reward their efforts, which boosts retention and the bottom line.

• Study success: Roman Jewelers’ Sophie Shor is currently analyzing Walt Disney’s theme parks to learn how her store can better exceed customer expectations.

• Silence the noise: Dave Audette of M.R.T. Jewelers doesn’t have any control over the national economy or wholesale pricing, so he instead focuses his efforts on things he can control such as training and marketing.

• Shorten the business plan: Anthony Taitz of Protea Diamonds says a two-year business plan, rather than the traditional five-year treatment, helps retailers better anticipate and adjust to shifting marketplace conditions. —DPS

 

Inset: Roman Jewelers touts Tacori on Facebook.

(Dandelions: Sunnybeach/Getty Images; paint cans: Scanrail/Thinkstock)
News Source : JCKOnline.com

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

  • TAGS
  • 35-year-old jewelry
  • Asian Jewelry
  • buy diamound
  • buying jewelry
  • diamonds
  • Drop earrings
  • Earrings
  • Hunter signet ring
  • Jewelry
  • Jewelry News Asia
  • Jill custom engagement ring
  • Marcy custom ring
  • Necklace in 18k gold
  • Obsessed on Instagram: The Jewelry Stars and Brands We’re Loving This Week
  • Roman Jewelers
  • the jeweller.com
  • The jewelry industry
  • Vardy’s Jewelers
  • yellow gold
SHARE
Facebook
Twitter
  • tweet
TJM

RELATED ARTICLESMORE FROM AUTHOR

Luxury Market Faces Mild Dip as Economic Uncertainty Grows
News & Trends

Luxury Market Faces Mild Dip as Economic Uncertainty Grows

SRK Sets Global Benchmark with World’s First Carbon-Negative Natural Polished Diamonds
Diamond

SRK Sets Global Benchmark with World’s First Carbon-Negative Natural Polished Diamonds

Natural Diamond Council Unveils Landmark Fancy Colour Diamond Report at Paris Couture Week
Color Stone

Natural Diamond Council Unveils Landmark Fancy Colour Diamond Report at Paris Couture Week

Nicky Hilton Debuts Theo Grace: A Personalized Jewelry Brand with Heart, Heritage, and Style
News & Trends

Nicky Hilton Debuts Theo Grace: A Personalized Jewelry Brand with Heart, Heritage, and Style

WFDB Applauds Global Unity Behind Luanda Accord to Champion Natural Diamonds
Diamond

WFDB Applauds Global Unity Behind Luanda Accord to Champion Natural Diamonds

PGI India to Host 8th Platinum Buyer-Seller Meet in Kochi, Spotlighting Innovation and Growth
News & Trends

PGI India to Host 8th Platinum Buyer-Seller Meet in Kochi, Spotlighting Innovation and Growth

Related articles

Birks Group Expands Luxury Reach with C$9M Acquisition of European Boutique’s Watch and Jewellery Business

Birks Group Expands Luxury Reach with C$9M Acquisition of European Boutique’s Watch and Jewellery...

Industry
Birks Group Inc. has officially acquired the watch and jewellery operations of Toronto-based European Boutique for C$9 million, marking a significant step in its...
IGI Upholds 4Cs Grading Standards for Lab-Grown Diamonds

IGI Upholds 4Cs Grading Standards for Lab-Grown Diamonds

other
The International Gemological Institute (IGI) has reaffirmed its commitment to using the traditional 4Cs — color, clarity, cut, and carat — when grading lab-grown...
Richemont’s Jewellery Sales Climb 7% in Q1, Reaching €3.9 Billion

Richemont’s Jewellery Sales Climb 7% in Q1, Reaching €3.9 Billion

Retail
Richemont posted a resilient performance for the first quarter ending 30 June 2025, with group-wide sales up 3% year-on-year to €5.4 billion. Leading this...
Luxury Market Faces Mild Dip as Economic Uncertainty Grows

Luxury Market Faces Mild Dip as Economic Uncertainty Grows

News & Trends
The global luxury market saw a slight downturn last year, with spending dipping by 1%, marking one of the sector’s most significant slowdowns in...
Solitario Debuts in Delhi with a Boutique Store at Study by Janak, South Extension

Solitario Debuts in Delhi with a Boutique Store at Study by Janak, South Extension

Industry
New Delhi, July 9, 2025 – Solitario Diamonds, one of India’s fastest-growing lab-grown diamond labels, officially launched its exclusive 300 sq. ft. retail space...
- Advertisement -
The Jewelry Central
TJM Advertise Here

Follow us on Instagram @the_jewelry_magazine

Solitario Debuts in Delhi with a Boutique Store at Solitario Debuts in Delhi with a Boutique Store at Study by Janak, South Extension

New Delhi, July 2025 – Solitario Diamonds, one of India’s fastest-growing lab-grown diamond labels, officially launched its exclusive 300 sq. ft. retail space at South Extension this weekend, marking its much-anticipated entry into Delhi’s luxury market. Located on the first floor of the iconic Study by Janak, the new store is designed for Delhi’s discerning customers, showcasing a curated range of bold, high-carat statement #solitaires (5CT and above).
Luxury Market Faces Mild Dip as Economic Uncertain Luxury Market Faces Mild Dip as Economic Uncertainty Grows

The global luxury market saw a slight downturn last year, with spending dipping by 1%, marking one of the sector’s most significant slowdowns in over a decade, according to new data from Bain & Company and Altagamma, the Italian luxury goods association.
Malabar Gold & Diamonds Charts New Growth Path wit Malabar Gold & Diamonds Charts New Growth Path with Lab-Grown Diamonds and IPO Ambitions

Malabar Gold & Diamonds is making a strategic pivot towards the lab-grown diamond segment in a bid to fuel its growth trajectory and mitigate the impact of escalating gold prices. The Kerala-headquartered jewellery giant is targeting a 20% increase in revenue for the current fiscal year, building on its robust performance of ₹62,000 crore in FY2025.

#fy2025 #malabar #malabargold #malabaradmission2025 #ipo #malabargroup
Swarovski Unveils Signature Octagon Collection wit Swarovski Unveils Signature Octagon Collection with Exclusive Diamond Cut

Swarovski has introduced a striking new fine jewelry line—The Octagon Collection—centered around a proprietary, precision-engineered diamond cut that captures the brand’s heritage in a dazzling new form.

#swarovskicrystals #swarovski💎 #swarovski2025 #jewelryindustry #jewelry #thejewelryindustry
647-Carat Diamond Unearthed in Brazil Marks Histor 647-Carat Diamond Unearthed in Brazil Marks Historic Discovery

A remarkable 647-carat diamond has been discovered in the Douradinho riverbed near Coromandel in southeast Brazil, marking the second-largest diamond find in the country’s history. Valued at over $3 million, the gem’s discovery has stirred excitement across the region, reigniting interest in Brazil’s storied but diminished diamond mining legacy.

#diamond #mining #biggestdiamond #Brazilian
GJEPC Strengthens Ties with Cambodia to Promote II GJEPC Strengthens Ties with Cambodia to Promote IIJS Premiere and SAJEX 2025

In a strategic outreach to strengthen India’s global gem and jewellery trade links, the Gem & Jewellery Export Promotion Council (GJEPC) engaged with key Cambodian industry stakeholders to promote its upcoming flagship events — IIJS Premiere 2025 in Mumbai and SAJEX 2025 in Jeddah.

#cambodianindustry #thejewelryindustry #sajex2025 #iijs #iijs2025
Isha Ambani Commands Attention at Met Gala 2025 in Isha Ambani Commands Attention at Met Gala 2025 in $150 Million Cartier Masterpiece

Isha Ambani made a dazzling entrance at the 2025 Met Gala, commanding the red carpet with a sartorial statement that married couture elegance with one of the most expensive jewellery moments in Met Gala history — a $150 million diamond necklace by Cartier.

#ishaambani #metgala #metgala2025 #anamikakhanna
Last Chance to Register for the Gem-A Conference 2 Last Chance to Register for the Gem-A Conference 2024

This year’s event will welcome ten speakers to etc.venues County Hall to educate and inspire Gem-A Members and non-members in November. 

Gem-A, London, United Kingdom
The Gemmological Association of Great Britain (Gem-A) is calling on gemmologists...

#AboutGemA #AccreditedGemologistsAssociation #AGIL #GemA #GemAConference2024 #GemmologicalAssociation #JewelleryValuersAssociation

Company

About Us
Contact Us
Sitemap
Terms & Condition
Privacy Policy

Subscription

Advertise
Magazines
Create Directory
Trusted Suppliers
Free Business Website

Company

About Us Contact Us Sitemap Terms & Condition Privacy Policy

Subscription

Advertise Magazines Create Directory Trusted Suppliers
TJM LOGO

Subscribe to our Newsletter

Check your inbox or spam folder to confirm your subscription.

Jewelry News
ABOUT US
Promoted by experts of Gem and Jewellery trade and Media. Established in 2016, TJM is committed effectively the scattered efforts of individual jeweller to make the Gem and Jewellery sector a powerful engine driving India’s export-let growth.
Contact us: info[@]thejewelrymagazine[.]com
FOLLOW US
© 2024 TheJewelryMagazine.COM
MORE STORIES
Tiara inspired shaped wedding ring

Domino reports strong shaped wedding bands sell-in

Fine gems and jewellery shine at 36th September HK Fair

Fine gems and jewellery shine at 36th September HK Fair

COMU Studs Inscription

Forevermark secures new stockist before the year ends

X