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However, the game has now changed,  especially when it comes to fine jewelry.   So, how do you purchase the perfect engagement ring or other piece of fine jewelry on a budget?  This is an excellent question and one many retail jewelers and consumers alike are wrestling to answer.   Many retail clients of ours are struggling with issue, how do you control costs, keep quality high ad ensure service and selection?   This given the current state of the economy it is a delicate balancing act as the cost of production is sky rocketing but consumers want to stretch their dollar as far as they can.    So, how do you reassure clients that they are getting the best bang for their buck?    It comes down to communication and working with vendors and suppliers who offer service, selection and price.

In short, consumers today are looking for good deals!  It doesn’t matter what the price point, whether its for socks or diamonds; stretching their dollar as far as it will go is the most important aspect.    So, how does a consumer ensure they’re getting a good deal?  Many consumer’s start by researching their purchase, the more money being spent the more time and effort will go into researching their purchase.

While this may seem like ‘the duh’ moment, I would ask you; do you have a page on your website that is devoted to education?  Do you send out email newsletters with tips on purchasing jewelry?  Do you have other printed information readily available for your clients?  Or do you write a weekly or monthly column for your local newspaper?   All of these things while very simple assist your clients in making their purchase decision and your willingness to share, speak volumes about you and your business.

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The almighty dollar is definitely king right now with budget being a huge concern with many consumers.  We’ve seen many consumers scaling back purchases or postponing them all together.   However, bridal has been an area that has been relatively isolated from the pains of the recession with consumers merely scaling back their purchases rather than postponing them.   Yet, this brings up a rather touchy subject – the issue of the budget?  Experts agree – its best for a consumer to set a budget and stick with it,  however, this can be a hurdle.    Do you have engagement mountings that have an expensive look but, are quite reasonable or even inexpensive?   I can tell you for us here at Forum Design, we’ve taken revamped our inventory to ensure we have a wide selection of bridal mountings to suit almost any budget and just about any taste.   We have bridal jewelry that will retail for around $1000.

While we’re discussing bridal,  here’s another idea worth considering.  Do you allow customer’s to bring their own diamond?  Some may have a family diamond, 1/2 pair of earrings or a diamond from another piece of jewelry.  Have you promoted this option for your clients?   They’ll be amazed at how wonderful this ‘old diamond’ looks in a new setting and you’ll be amazed at how happy they are about their purchase!  No buyers, remorse here!  Just think of it – you’ve saved them money, you’ve brought new life to an old piece of jewelry and you’ve created a memory for the customer.    I can tell you from experience these types of experiences customers remember!  I did and I referred business to these companies!

In the end, we all have to look at our businesses and decide what works best for us.   I hope that this is just a little food for thought.  Please as always – I welcome comments and suggestions.

The roller coaster ride of the last year no one could have or would have wanted to predict but, now we have it in our review mirrors.  Over the last year, we’ve seen countless number of banrupicies, store closings and job lossess that has left us speachless.   Times like these have not been seen since the early seventies and even some liken it to the great depression.    Yet, there are the beginnings of a recovery -modest but a recovery none the less.   

In the last week, we’ve seen FedEx lift their quarterly guidence, an uptick in the Consumer Confidence Index, a huge increase in the Transportation Services Index and retail sales (analyst predict) will be better than expected when released Tuesday, September 15, 2009.   Now, how will this affect you the retail jeweler?  

All of these signs point to a recovery that is in process.  I would still expect to still see loss of jobs over the coming months as this is a lagging indicator and we have seen it over the past few months.   Even after a recovery has begun we will still see job losses so its prudent to look at other factors.  Also, we’ve been seeing more and more articles and storylines crying that the recession is over.   With the media behind the idea that the recession is over, soon too the consumer will follow suit, we hope. 

Let’s start with the Transportation Services Index.  This index measures freight services across the country, in short, how much frieght (goods) are being moved around this country at any given point in time.  While this measurement is in tons per mile it is relative to the over health of the economy.  This measurement rose1.6% over June and July of this year, this is the only increase seen this year other than the 1% in February 2009.  Why is this important it?  In short, it shows there is an increasing  demand for goods.   

On the heels of this news, we have FedEx who raised their quarterly guidence from  0.30 cents a share to 0.45 cents a share citing that there has been an increase in demand for international shipping.   This is significant as it shows there is an additional demand for goods imported and exported from the USA and they also move goods via trucks and air across the country.  

Also, we have the consumer confidence index rising from 65.7 to 70.2 beating a forcast for August of 67.5.  Consumers, at the moment, have more confidence in a recovery and that the worst is behind us and a more optimistic view for the future.   However, this does not mean that they will run out to splurg on goods and services.   

And finally, the retail sales figures to be released Tuesday, September 15, 2009; most agree that there will be a pleasent surprise as the numbers will be better than expected.  We can only hope! 

So, why should we care about any or all of these?  Simple, all of these items provide a glimpse into the global economy that affects all of us.  A healthy global economy bodes well for not just us, but our suppliers and our clients.  All of these indicators point to a recovery that is in process and should foreshadow a better than expected holiday season and we haven’t even spoken about pent up demand. 

Obviously, I am giving you my humble opinion as to what I believe is going to happen over the coming months.  And I do have reason to be optismistic but we need to realize that consumers have changed with the events of the past year.  So, how do we capitalize on it?  My thoughts are as follows:  consumers are tired of the hype and of merchandise that is not of good quality.  They are searching for value for the money spent.  They want to know when they plunk down their cash/credit card or check for that engagement ring, diamond earrings or diamond pendant that they are actually getting a great value for the money and getting a piece of jewelry that is a quality piece of jewelry.   My feeling is pieces that are price points will remain strong for the next 2 to 3 quarters.  

With this also goes another painful yet necessary item for you the retail jeweler or clothing retailer.  Discounts!  While I am not huge fan of discounting as I believe that is it  a double entendre; once you start down that path it can be difficult to recover from it or you could risk your brand identity with discounting.   So, how could you do it?  Well, here is my thought creating an event that offers special pricing for your customers.  i.e. a trunk show, end of year clearance or other special event.  We did this when I worked for an art group, we did this twice a year to move items that were either returns from clients, last years items that we were not able to sell and we did through in some new pieces to test offering a limited discount.  This model worked well for us in addition to exhibiting at the High Point International Furniture Market.   This might be something worth considering as it could help you move items that ahve been around way too long and potentially obtain new customers. 

Here, at Forum Design, we started by asking ourselves if offering special pricing would be a good approach for our clients.    Absolutely, right now we are offering our client spiecal pricing on items purchased through the website and offering specials on small collections of bridal mountings (a collection is defined as 6 pieces)    If you’d like to learn more about us visit, forumdesign.net or call 888.553.6786 and speak with Mary for further details.

 Jewelry like clothing speaks – so what does it say? 

 Since reading that article I have been sorting through a number of different articles, blogs and other trade publications. All agree that there is a language to our clothing and for our accessories but the message?  All point to issues of self esteem and status with in society.   My question, does that still hold true today?  I’m not certain that it truly does any longer.  While proper grooming and appearance are still vitally important the days of women being told what skirt length to wear or the perfect color, etc are long gone.  However, we’re not going to discuss this today but rather, how this sense of style transcends to our stores and our brand. 

Black Diamond Filigree Earrings

 Surprisingly it does affect us – consumers are not only struck by what we have on our shelves but also what is in our cases and how items are displayed in our cases.   I realize that I am probably preaching to the choir yet, I think its good to be reminded of little details and maybe through this I will give you a new idea that you can use.  Before we get to far into this topic how does jewelry fit with an individual? 

 It plays a huge role - to quote   Clairree Belcher from the movie Steel Magnolias she said;  ‘The only thing that separates us from the animals is our ability to accessorize.’  This is exactly it!  Jewelry is the final addition to our outfit.  Our jewelry is what (earrings, rings and bracelets) truly makes the wardrobe unique.  Its these little touches that broadcasts to the world our individual style – and this is even extended to the stores we shop in and the car we drive.  It’s all a matter of personal taste and style.  Your jewelry (however) plays a unique role; it is the final accoutrement and speaks louder than anything else.   Not to be disagreeable but, in short, do you buy quality or are you going for ‘the look.’  Do you prefer classic or artsy?  Or it doesn’t matter as long as its diamonds and lots of them?  Or diamonds but worn elegantly?  These are all subtle hints that illuminate our personality and personal sense of style.    

So, if something this small could affect a store what else could?  While I am not an expert, I am familiar with the shopping experience and the psycology of architecture.  My belief is that architecture or the spaces in which we live and work should interact with us.  They should provide more than just shelter from the elements; they should be comfortable and offer little surprises as we move through them.  And shopping is an art not a sport.   So, when you combine these to ideals, you create a small micro-cosium that you, your employees enjoy and your customer’s will feel that positive energy and enjoy coming to see you. 
 

Well, if you haven’t, whatcha waiting for?  This holiday season is going to be either a pleasant surprise or a train wreck – I think last year was the wreck this year maybe just a stall.

Now, what are pundits predicting?   Well, most believe that the pent up demand from the last year will provide  a  surprise to all retailers during the fourth quarter of this year.   Are they correct?  Well, time  will tell as truth is found in the review mirror  more than through the windshield but we can’t drive our businesses by peering in review mirror.   So, what do we do?  We hang in there, we make strategically sound decisions based on the latest information available.  Then we execute and just don’t hope for the best but try to also properly encourage our sales force and ensure we’re serving the best needs of our clients.   And then yes, sometimes we have to wait and see what actually happens.

You never know when there is a miracle around the next bend – just ask the 1980 USA Olympic Hockey team!  Who did they knock off?  Only the best team in the world and had been in the world for 20+ years!  So, maybe its our time to knock the recession off its feet!  I am going to hope so -

Those of you who know Tina and I (Mary) at Forum Design, you know that we’re eternal optimists.  We always look for the silver lining and try to pass that same feeling onto the sales staff and try to convey that from our small call center here in Scottsdale, AZ.   Both of us are hopeful for the holiday season not just for ourselves but also for the clients we serve.   We want you to have a successful holiday season and successful business.  We strive to achieve that everyday and with every interaction.

So, what do we think needs to be the focus for the holidays?  Well, consumers are tighten their belts and have been for the entire last year.  We both are strong proponents of simple, classic and elegant pieces.  Items that are timeless not faddish.    So, what are those items, your classic semi-mount pendants, your diamond stud earrings and eternity bands.

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Now, you may ask, what about bridal?  Well, we know it will be strong because bridal has become the backbone of jewelers across the nation and I would suspect the world.   We’ll discuss bridal in more length in a later post.  For now, let’s look at those little gifts that should retail for less than a $1000 or $1500.

The classic diamond pendant; I’ll bet you’re unaware that Forum carries an extensive line of semi-mount pendants that can be custom made to fit just about any size center stone – diamond or gemstone.  Best of all the prices!  Log onto retailers area of forumdesign.net to review the pricing.

I realize the center diamond will significantly alter the price but, consider gemstones.   And remember,  color never truly goes away in fashion – usually one color will dominate a season but the full spectrum is always out there.

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Moving onto the diamond stud earring – what do you do with a client that has the traditional pair?  Have you suggested a pair of earring jackets?  These are perfect to enhance the look of their existing stud earrings and if they have other gemstone earrings – it creates a new and different look for those as well.    Or what about a new twist on the diamond stud earring?   A diamond encircled by small diamonds?  (Photo left) We carry these is a variety of sizes and these also work well for a bride looking for jewelry to wear during her ceremony.   Again, I encourage you to log into the retailers area of forumdesign.net to review some of the different options available.

Style # MR3529

Finally, the classic eternity rings aka stackable bands and eternity bands.    Eternity rings come in a variety of styles and sizes – you can have thin bands, thick bands, single color, dual color, 1/2, full or even 2/3 of the way around.    These are great for a client who likes the stackable look or wants something a little different for their bridal rings or just wants something fun.   And usually once they get started they’ll want more of them as they find that they can mix and match much like earring jackets.    And best of all its afforable, they might get one for the holidays, then for their birthday or even anniversary or a just because gift.      We have lots of these rings in a variety of styles to choose from so please log onto forumdesign.net to select your favorites for your store.  And right now, if you purchase 6 or more you’ll receive a special group price.  Please email Mary at mary@forumjewelry.com to obtain the details.

While, we may not know exactly what will happen this holiday season, we can not lose hope and we much remain positive.  I, personally, believe that this holiday season will be marked heavily by those items that fall into the $500-$1500 range.  These items represent for the most part those items that are like a Chanel suit – timeless.   We’ll just have to see what the future hold but until then remember we’re here to support you in your business.

I’m sure a few of you remember the days before computers and/or the days of  large, clunky devices that sat conspicuously under the desk or were the desk.  The days of computers built like cinder blocks and weighed as much.    I can remember going to work with  my father and their computer that managed the store and received communications from the home office was in a special room!   The room was even manned and had a security protocol before you could even enter!  Man oh man have times changed!

Who would have thought that computers would become hand held devices?

Or that you could surf the internet while traveling in your car!

Who could have imagined 10 years ago or even 5 years ago that the web would be as powerhouse it has become.

Can anyone imagine their life without the internet?  To Google something  is not permanently etched into our consciousness.   For me, its hard to imagine the web not being a part of my life.   I’m sure others feel the same way – the internet or world wide web has

helped shorten the distance between friends and family,

played an integral role in education and research,

helped stretch marketing budgets

and has played an active role in the history of our world.

The prowess the web has shown for marketing has been linked to stretching budgets, leveling the playing field for smaller companies with limited budgets and has helped spread the word about both positive and negative customer experiences.   So, this is garnering attention from everyone seeking to build on the success that others have experienced.  So, how should you utilize this tool?

First let’s define social marketing.  Social marketing or viral/guerrilla marketing is in the simplest of terms  a cocktail party on the web 24/7.    Now, instead of working the room of friends – you’re working an international crowd.  Kind of daunting isn’t it?  So, stepping gently and carefully into this world is the best advice I can give or suggest.

Also, realizing that this is a tool and additional tool in your marketing arsenal.   Social marketing should enhance your existing campaigns and provide a broader reach.   I would not relay on it as your sole means of promotion or advertising.  Obviously, if cost is a factor then this is the most cost effective medium to start building  your brand.   However, at some point the traditional methods (print, radio or video) need to be brought into the mix to strengthen your brand recognition.

The question may arise, why is social marketing so effective?  The simple answer – the reach and the frequency of messages.    With sites, like Facebook and Twitter – it allows your target audience to get to know you and your business.   So, the persona or messages sent out via either of these mediums or others should accurately reflect you and your business.   These messages allow your customers and potential customers to get know you and decide whether or not they want to purchase or do business with you.  This is a powerful tool as you can start to build loyalty.  At least, as much as one can count on in these times.

The take away – No Phonies allowed online.

So, how do you remain true to yourself online and not give out too much information?  Make sure when you’re online that you are being true to you and your business.   You don’t have to put everything you’re doing out there.  I recently saw a posting from someone who said they were in the bathroom.    They were a bit more descriptive and this represents one of the traps of the internet.  As you’re sitting in-front of your computer – you may think that no one is listening or reading for that matter.  Far from it!  Remember this is a public domain!  So, if you wouldn’t want it printed in the WSJ then rethink whether or not you want to make it one of your updates.

While we’re on this subject – I try with our blogs, Tweets and soon FB and LinkedIn to show why we love what we do……Our team loves beautiful jewelry.  We love knowing that when an engagement ring is sold that this is becoming part of someone’s life.  It’s not just a ring!  We keep that in mind when ever we are speaking with our customers and we strive to ensure that they look like the heroes.  That is what is important to us – hetch this is why I am writing about some of my experiences and successes with the internet.

Finally,  how to start?  Well, I would start with FB,  MySpace or another portal – you can decide and start a page.  Invite some of your best customers to join.  Start a dialogue with them.  Keep an eye on their comments and what they are or are not saying about you.  Use this space to promote events and send special e-vites to them.  And remember try to have a little fun with it.  At the end of the day that’s what’s really important.

We’ll talk about back links and SEO in the coming posts.    We’re going to try and start weekly posts on topics.  If you have suggestions for topics, email mary@forumjewelry.com.  I’ll be more than happy to address and add these to my list of items.

 What’s important is that after reading the excerpt - I went to the library to pick up a copy of the book.   I wasn’t sure what to expect as usually excerpts shine the spotlight on the best part of the book.  Sometimes, the balance of the publication can be a tad bit disappointing. 

Disappointed, I was not!  In a day and age of tough economies, websites vying for customer attention and businesses going belly up day in and day out.  It’s nice to find a story that has an inspirational message.  I found ‘The Necklace,’ to be heartwarming, inspirational and I consider it a must read for anyone in the jewelry business. 

Too often, this business is about the bottom line and the beauties gracing our showcasesbecome trinkets and boring dogs to us.   All to often we become jaded, bored and it takes something truly amazing for it to capture our attention.  In short, its business as usual; we lose the passion we once had for the business.  While certainly this is natural in any industry, the ebbs and flows; the highs and the lows, I think retail is especially easy to get stuck in the dull drums; especially today with the tough economic times facing all retail operations.   
This book reminds us – why people buy jewelry, the thrill and the joy – the emotional nature of it.  It shows us that a single piece of jewelry change peoples lives, that a single event can wide reaching ramifications and sometimes scarifying our bottom line can create a better world. 

I would like to applaud Tom Van Gundy for taking a chance and I hope that this will inspire others will as well.

The discovery of Tanzanite remains a bit of a mystery.   It is widely accepted that a Massi tribesman by the name of Ali Juuyawatu discovered the first piece of this translucent crystal near Mount Kilimanjaro.   He was so fascinated by its blue-violet huethat he decided to share his find with Manuel D’Souza, a tailor by profession and prospector by passion.   He at first concluded that is was an olivine or peridot.   He later realized that this assessment was incorrect and labeled the stone a blue non-gem-mineral.   This is quite the far departure from where tanzanite is today. 

Sometime later, D’Souza showed this stone to John Saul, a consulting geologist and gemstone wholesaler based in Nairobi.  He was mining aquamarine in the region.   As he was uncertain as to its origin he sent the mineral to his father Hyman Saul, the VP of Saks Fifth Avenue, New York.  It was Hyman that brought the gem to the GIA for identification.   It was he along with Henry Platt of Tiffany’s that saw the gem’s true beauty, marketability and coined the name ‘tanzanite.’ 

Tanzanite over the years has gained quite a following and was recently named as a one of the birthstones for December.  This was quite a monumental task as the last time the birthstone charts were updated was in 1912! 

Tanzanite in some parts of the world is out selling diamonds and diamond jewelry.   Please appreciate the range and the diversity of this little gem.  Tanzanite ranges in color from a light violet color to dark blue hues.  It is currently estimated that the market for Tanzanite is a mere $200 million per year with its diamond counterpart far exceeding it.  However, Tanzanite is gaining acclaim with more and more people opting to use this as a center stone for an engagement ring. 

We, Forum Design, have a wide variety of Tanzanite pieces.  Many of our finished tanzanite pieces are one of a kind with each stone being cut to fit the semi-mount selected.   For each of these exquisite rings, we start with the cut tanzanite and then select the ring style to be made for the stone.    Most of our tanzanite pieces are made to order but we have been struck by the beauty of some of the stones and have a few pre-fabricated rings available for purchase.  If you’re in the market for a tanzanite ring, pendant or even earrings give us a call and let us help you create your perfect piece of tanzanite jewelry.   We’re available via email at sales@forumjewelry.com or at 888.553.6786.

Toward the end of the shows in Las Vegas, I would guess that there were more exhibitors in the building than there were retailer buyers.   There is no doubt that this year’s traffic was down but those who did attend went to buy; they were searching for bridal, for cost effective fashion pieces and those unqiue one of kind high end pieces that are in demand at the moment. 

While those in attendance were buying it was a sad statement on the confidence of many retailer buyers.   We heard time and again from our client base that they were buying more conservatively taking a wait and see approach.  The summer seems to be the deciding factor for most before committing to orders for the holiday season.   Further, many retailers continue to stand firm with their bridal sales.  In fact, many commented that their strong bridal business has continued to sustain them during these rough economic times.   The over riding comment has been ’love never goes out of style.’  

We (Forum Design) are lucky as this is one of our principle strengths; our bridal collection is extensive, ensuring that you can find the perfect engagement ring for your client at a great value.   We’ve even added a new collection of bridal rings that are conceptualized, created and manufactured here in the USA.  We are currently photographing this new collection and other items that have not been properly photographed so please check back to see the new line of bridal rings available exclusively from Forum Design.  

Please check back shortly and in the meantime if you have any questions, please feel free to call us at 888.553.6786 or email us at sales@forumjewelry.com