In a troubled economic time, it's quite fascinating to attend a show aimed at helping people sell jewelry, a non-essential item that might be the first thing axed out of the budget when times get tough. It does appear that many owners of jewelry stores are worried. Small independent stores, similarly to small bookstores, have been fighting a difficult battle for years, facing competition from a variety of angles including jewelry store chains, discount retailers, and the internet. At the JCK Show in Las Vegas held at the Venetian Hotel, I sat in on a couple of marketing sessions aimed at jewelers to learn how they will be selling to their customers now that they need their business perhaps more than they ever have before.

Once concern seems to be how to attract younger people. The majority of jewelry store owners appear to be in the Baby Boomer demographic and they don't always know how to connect with younger generations. Have you ever walked into a jewelry store and felt like they weren't speaking your language when it comes to selling to you? NIck Failla, of Premier Consulting Innovations suggests that part of the problem might be that they may have been selling to you as if you were your parents. At the JCK Show he spoke to jewelers explaining that the generation gap is more than just a question of age but a question of values. The issues he spoke on reminded me of similar themes discussed at the Luxury Summit back in April. Selling luxury goods to the younger consumer involves more than just a glossy ad featuring a popular celebrity. Failla brought up the successes of lifestyle brands like Cadillac and Apple; it's his assertion that "people don't buy brands, they join brands" they want to be part of what the brand represents. He also made a very important point that for Generations X and Y humor sells a lot. Until he mentioned it I hadn't really considered it but this is very true. Jewelry stores use many different types of advertising pitches but most of them focus on selection, price and luxury. What they don't stress is fun, they show you how luxurious a piece is rather than how good it would make you feel. This is something I've noticed overall in the luxury market, but I suspect it is starting to shift with the changing tastes of today's consumer. Just strolling out of the Venetian Hotel, I saw a billboard for Barney's New York touting that they offer "Taste. Luxury. Humor."