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CIBJO Releases Marketing and Education Special Report, Analyzes ‘Next Great Jewelry-Buying Generation’

Generation Z ‘is coming to our markets very soon if it has not already arrived in reality.’

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(PRESS RELEASE) MILAN, ITALY — With fewer than 10 weeks to go until the opening of the 2019 CIBJO Congress in Manama, Bahrain, on Nov. 18, the first of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report returns to what has been defined as the next great jewelry-consuming group, Generation Z, providing a breakdown of what the industry needs to consider if it is to ensure that jewelry remains a favored purchase.

Generation Z refers to consumers who currently are 15 to 25 years of age.

“Gen Z is coming to our markets very soon if it has not already arrived in reality,” writes Kendall. “Its members are forecast to spend a whopping $143 billion this year alone. So we better get them on our side if we want to enjoy a rosy future. In fact, the future success of the jewelry industry will depend on our understanding the needs and wants of Generation Z. Get this right and we can all look forward to strong profitable years moving forward. Get it wrong and we could be destined for the scrap heap – not overnight maybe, but ultimately.”

Communicating largely via social media, Generation Z is more environmentally conscious and gender neutral than any generation that preceded it, studies show. It celebrates authenticity, diversity and human imperfection. It is more likely to heed the advice of a friend rather than a celebrity.

“Gen Z is prepared to splurge, but it must be worth it. The more added value the better, and that can come from its environmental credentials or its social value,” says Kendall.

To download a copy of the CIBJO Market & Education Commission’s special report, click here.

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GN Diamond Webinar Series Share Insights on Holiday Sales

Capture add-ons and impulse buys so you can double your closing ratio.

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(PRESS RELEASE) The holidays are here, along with the opportunity to capture add-ons and impulse buys so you can double your closing ratio. How? By wowing customers and helping them buy with confidence.

In part 3 of the Ultimate Sales Tips webinar series, Shane Decker and Asaf Herskovitz share what you can do right now to be ready when holiday shoppers walk through your doors. Gain insights on how to close larger sales from the industry’s leading sales experts.

  • Show and sell, don’t show and tell
  • Provide the in-store experience customers want
  • Use the right closing line for the right person
  • Never let them say “I’ll be back!”

To attend this webinar series, go here for the next webinar on Tuesday, December 10, 2019 12:00 – 12:45 EST.

 

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Press Releases

GN Diamond Appeals to Millennials with an In Store Cool Factor of Virtual Reality

They can actually view a diamond on its journey from the mine where it was unearthed to the store.

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(PRESS RELEASE) Virtual Reality is particularly geared toward millennials as they can actually view a diamond on its journey from the mine where it was unearthed to the store. It’s a unique and inspiring experience for clients to feel a more personal connection to the diamond they will purchase. Couples appreciate a diamond when they know its story, and they get a better understanding of what makes two diamonds different – along with their prices – even though they may seem identical.

GN says the Light Performance Technology, paired with virtual reality immersion, turns shopping into a sensational experience.

Asaf Herskovitz, CEO, of GN Diamond believes that, “By creating a unique shopping experience for millennials, baby boomers and customers of all ages, retail stores create a point of distinction for themselves especially when competing against on-line internet sites.”

Diamond Hunt

Retailers have another great in-store selling tool with GN’s Diamond Hunt, which allows stores to put GN’s loose diamond inventory of more than $70 million on their own website, including the store’s logo and markup. Videos of the diamonds, the Light Performance score and the certification of the diamonds are included.

“Everyone craves a pleasant, lifetime memory when making major purchases. Virtual Reality and Augmented Reality fulfills this goal and expectation.,” Mr. Herskovitz adds.

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Phillip Gavriel Kicks Off Holiday Season By Giving Back to Community

It donated $25,000 worth of jewelry.

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(PRESS RELEASE) NEW YORK – Phillip Gavriel participated in the New York City based Housing Works’ annual benefit, Fashion for Action. The company donated $25,000 worth of jewelry.

Jewelers have a long tradition of supporting charitable organizations, and both Royal Chain and Phillip Gavriel have a history of giving back, both directly and through partnerships with retailers over the years. This year, Phillip Gavriel contributed to his own local community in New York City with a $25,000 donation of jewelry. Housing Works is a pillar of New York City’s philanthropy efforts, and since it was founded in 1990 it fights for funding and legislation to ensure that all people living with HIV/AIDS have access to quality housing, healthcare, HIV prevention, and treatment, among other lifesaving services.

Every fall, Housing Works hosts the Fashion for Action event and invites various designers to give back in a charitable shopping experience. Event guests have the opportunity to shop donated apparel and jewelry from hundreds of brands while sipping champagne and mingling with New York’s most stylish individuals. Last night was no exception, Phillip Gavriel Jewelry was in the company of fashion’s most important brands such as Christian Dior, Dolce & Gabbana, and COACH to name a few. The roster of New York’s celebrity guest appearances included actress Patricia Clarkson, 2019 Emmy winner Billy Porter and Sex and the City stylist Patricia Field.

This year’s Fashion for Action is currently taking place November 14th-16th, 2019. The Opening Reception took place last night and Phillip Gabriel Maroof himself attended to not only display some his pieces but to shop other brands for a good cause. The public sale will be held, November 15th and 16th from 10 a.m.-7 p.m. at the original Chelsea Thrift Shop. The designer pieces will continue to be sold through the season while they last.

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