Jewelry Boca Raton
Jewelry stores used to be thought of as this magical place where dreams come true. No matter how much money you made, when you wanted to get her something nice, you went to the local jewelry store. They always had what she wanted, the diamond earrings, the ruby necklace, the emerald bracelet. This is what you knew she wanted and she loved each gift. Now, in today’s world, the local jewelry store isn’t selling as much as it used to. Instead of getting her the earrings you got her the new Apple iPad. After all, the iPad is much more functional for a 25 year old professional than a pair of earrings. Millennial’s are more interested in technology than jewelry Boca Raton.
Now, it’s not to say that we aren’t interested in jewelry at all, it’s just things have changed. Of course every 20 something girl spends hours browsing which engagement ring which celebrity just bought. But it seems like engagement rings are all the talk now. The days of getting a diamond bracelet for your 10 year anniversary are over. She’d rather get the new MacBook Air. It used to be that every occasion was a new piece of jewelry. Earrings for the birthday, necklace for Valentine’s day, etc. But it’s just not like that anymore.
It’s interesting too because we are spending more than our parents did. You’d think that would translate into more jewelry sales, but it hasn’t. We’re spending $500 on the new phone rather than saving for a couple years to spend $1,000 on the jewelry. In today’s world everything is here and now, so why save up for something you know she doesn’t want anyway?
According to Forbes, the demand for gold jewelry dropped 30 percent last year, 30 percent! That’s a huge move. Even the diamond monopoly DeBeers said “retailers have faced pressures from a weak economic environment and strong competition from branded luxury goods and experiential categories, as well as the low-price models of e-commerce companies.” Basically what they’re saying is there are better things to spend your hard earned money on than a sparkly rock.
It seems like the Great Recession had a resounding effect on jewelry around the country. I think people realized spending thousands of dollars on something that all it does is look nice is not necessary. We’d rather spend the money on something that can help us improve our lives.
What’s the common saying? That an engagement ring should cost two or three month’s salary? I think those days are gone. Most people are now turning to family heirlooms rather than buying something brand new. According to professor Kit Yarrow of Golden Gate University “The psychology of this generation is not that of a depression generation…. Status for this generation isn’t about money—it’s about attention. “Previous generations got that Chanel handbag or 3 carat diamond to tell the world they made it. This generation has already grown up in a time of unprecedented prosperity…. Their expectations are much higher.”
Jewelry no-a-days just isn’t as special as it once was. There is huge technology competition at relatively similar price-points that millenial’s would rather spend their money on.