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The Consumer Product Safety Commission voted Thursday to exempt precious metals (karat gold, sterling, and platinum group metals) and gemstones from the testing and certification requirements for children's products, inlucindg jewelry, covered by the Consumer Product Safety Improvement Act.
It is an all-too-familiar situation: Economic news makes business owners nervous and they start hesitating. Jewelers second-guess moving forward with opportunities that require confidence. For instance, they decide not to pick up a new line or cancel plans for an upcoming event, believing in each case that if they just "wait it out," they can sidestep the threat of economic gloom and doom. In short, they panic and seize up. 
Not those colorful candy treats, but two other enticements that can please us, provided we do not overindulge. I refer to Margin and Memo. I capitalize these two words because of the frequency with which I heard them at The JCK Show in Las Vegas, and otherwise in the press. This month, I offer some thoughts about margins, next month about memo.
One of the main secret ingredients to the longevity of the jewelry market is that tiffany jewelry, unlike many other things on the market, is not a fickle new consumer product and likewise not a passing fad. Styles over centuries change; this much we know is true. But...
For my next few posts, I've decided to tell you a bit about the history of diamonds and the role that they've played in different cultures over the course of history. Like with everything else, it is customary to begin at the beginning. And in the case of diamonds, the beginning is believed to be India. 
Diamonds may be a jewelers' best friend, but the unsung category of repairs can help get you through the downturn. As many customers now choose to upgrade their jewelry, versus buying new pieces, these jobs are critical to your bottom-line. In order to capitalize on your bench jewelry services, you need to make sure your sales associates recognize the importance of repairs and can write effective job cards. 
It's not unusual for diamond rings to be handed down from one generation to the next, but sometimes their settings need to be repaired or replaced, and sometimes the settings don't suit your style at all. Resetting a diamond is a very personal decision, and often controlled by the amount of sentimental attachment to a piece. 
Cubic zirconia rings can be compared to diamond ones based upon the key aspects of the gemstones at the center of each. Gemologists have identified many key qualities which largely determine the beauty and appearance of the precious stones. This is the most objective way in which to compare these two gems. 
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I remember a few years ago all the articles in the jewelry trade publications saying that the internet would never replace brick and mortar. Many independents waited too long to get their own website. It is not too late, but it is extremely difficult and costly to get good rankings. 
Jewelry that is designed and handcrafted by designers is always one of a kind. The designs are unique and always fresh in terms of other common jewelries available in the market. Designer diamond jewelry is supposed to be expensive than others. The intention of the designers is to make something new which will be cherished forever and people would like to buy again and again. 
This issue of Retail Jewelry Insights™ is the first of a two part series that will discuss retail planning for small and medium sized jewelry companies. Part I will focus on the concept of planning and building the financial plan. Part II will discuss merchandise planning and its relationship to the firm's financial objectives. |
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GemFind: Diamond Search, Web Development, JewelCloud , ring builder, stud builder, pendant builder 2009-08-25
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Tags: 2009, August, Uncategorized
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