Why Is This The Most Important Jewelry Image You'll See This Week?

At a JCK Talk titled "Who’s Buying What? Why, When & Where?" Michael O'Connor , Marketing Director at Plum Club, discussed emerging phenomena among jewelry customers. Based upon extensive research by the Plumb Club, a respected jewelry industry organization, we are able to predict important future trends that will impact how we manage our businesses. I'm going to present my opinion in this article that this picture of my colleague Darren Elder at JCK perfectly symbolizes those many trends.

Artisanship. O'Connor shared that jewelry purchasers are looking for handcrafted 'forever pieces,' observing that "You can't hand down a trip to Disney." Consumers are willing to spend "more for less" in pursuit of quality. We visited Fred Sagues , CEO of Black Market Pearls , to view his selection of unique Tahitian pearls. (Fred is also the US Representative for La Peregrina Ltd .) Not only was the inventory impressive, Fred offered to create a unique pearl necklace for Darren on the spot. Keep in mind that the pearls are not yet drilled: the necklace design and pearl that Darren would select determined where Fred's skilled hands would drill the pearl. We were invited to watch as Fred carefully and expertly placed the necessary channel through the black pearl that Darren chose. (See the image to the right.) A single, high quality black Tahitian pearl encapsulates O'Connor's observation of "more for less."

Gender Fluidity. "Consumers are pushing against being pigeonholed" stated O'Connor, and this could not be more true than when it comes to pearl jewelry. For many decades--too many!--pearls have been considered a 'feminine' gem, but today jewelry buyers are comfortable with wearing what appeals to them, regardless of previous gender stereotypes. People who identify as male are wearing pearl strands on the red carpet, sporting events, and on the streets of New York City (the last based upon my personal observations). Darren's choice of a black Tahitian pearl pendant was not only stunningly handsome but also completely appropriate. (The image on the left shows Chloe Calypso placing the pearl and knotting the leather cord.)

The Perennial Generation. Your customers have moved beyond "Boomer," "Gen X" and "Millenial." Perennials are people of all ages with an non-generational awareness of themselves and their world. Today's 60 yo may be following the same celebrity on Instagram as today's 16 yo. Darren's decision of the Tahitian pearl necklace was influenced by its uniqueness and the artisan skills of Fred and Chloe. Age-appropriateness doesn't have the sway that we've seen in past periods. Michael O'Connor says we're in "a new era mixing all these demographics together because their behavior is similar."

Social Responsibility. Before considering a purchase there was a lot of discussion about Black Market Pearls: who they are, what they do, and how do they do it. They volunteered to explain their responsible approach to pearl farming and supporting local communities. "Sustainability is important and consumers are willing to pay for it" says O'Connor, and he's right. To support a business that one believes shares one's values, and to help them survive against less conscientious businesses, is worth paying a premium.

Inclusivity and Diversity. Stated goals are good, but actions are paramount. The entire group at Black Market Pearls was enthusiastic and welcoming to all of us, regardless of race, creed, gender or orientation. Their offer to go above and beyond to craft a unique jewelry piece for Darren, while he waited and observed the process, demonstrated their inclusive attitude toward everyone. Again, according to O'Connor, "There is a new consciousness that consumers are expected from their brands; they want their brands to show more activism."

Five important jewelry consumer trends illustrated in this single purchase: artisanship, gender fluidity, Perennials, social responsibility, and inclusivity & diversity. These are the demands of today's jewelry consumer. Are you embracing these emerging phenomena, as Fred Sagues and Chloe Calypso are doing? You'll need to if you wish to increase your share of the growing jewelry market!