Jewelry industry

Jewelry industry predictions for 2021 – JCK

In this episode
In this edition of The jewelry district, you will hear JCK Editor-in-Chief Victoria Gomelsky and CIO Rob Bates talk about trends in 2020 that will continue into 2021. E-commerce? Probably here to stay. They will also cover a weird story of the week.

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Show Notes
12:30 AM Rob and Victoria wish listeners a happy new year and choose the business strategies that worked last year that could be here to stay in 2021.
03:33 E-commerce seems to be here to stay.
7:14 AM Victoria believes jewelry will join watches in the circular economy.
1:07 PM Rob gives us a little insight into the new Defense Appropriations Bill and what it means for the jewelry industry.
4:10 PM Victoria talks about Pantone’s Colors of the Year.
8:05 PM The weird story of this episode week will make you happy as a clam.

Episode credits
Hosts: Rob Bates and Victoria Gomelsky
Editor: Olivia briley
Producer and engineer: Nathalie Chomet
Plugs: jckonline.com, @jckmagazine

Show summary

What we accomplished in 2020

Good year! As we face many uncertainties for the New Year, Victoria and Rob are optimistic. They recognize that we have all learned to embrace e-commerce and digital initiatives, and learned to work on the fly.

Our digital future

People think e-commerce adoption is here to stay. While we probably won’t continue to do everything on Zoom, we will definitely keep some operations online as we have learned to adapt to this new technology. Victoria says the circular economy is on her mind as we move into this new year, especially for gold and watches. She predicts that the circular economy will become more linked to e-commerce initiatives.

Circular economy

While watches have been part of the circular economy for quite some time now, Victoria believes jewelry will be added to the mix soon. Victoria tells us about Omnique, a jewelry site specializing in old and vintage jewelry that already connects old jewelry to new owners. Rob mentions that De Beers experimented with an exchange service, but ultimately decided that the way to get the best value for diamonds was to let consumers auction them online.

A step towards more transparency

According to the new Defense Credit Bill, financial institutions will be required to disclose their final beneficial owner. Rob has listened to podcasts that differentiate the underground or underground economy from our economy, but he points out that the underground economy is actually only part of our overall economy. Hopefully with this new legislation there will be more transparency in the jewelry industry.

Pantone Colors of the Year

Victoria talks about the Pantone colors of the year: Ultimate Gray and Illuminating. While they might not be the most obvious colors for the jewelry industry, they are bright and upbeat. Victoria is thinking about how these colors will be incorporated this year and she suggests a few stones that might hit the mark. On that note, the JCK editors are mourning Tucson not being detained in 2021.

Strange story of the week

2020 is drawing to a close. But don’t worry, there are still a lot of weird things to do, and Rob is providing it with a weird new story of the week. Gosman’s Fish Market in Montauk, NY has a great cup of chowder, but you won’t believe what came out of a batch of clams. Cooks in the market found a massive pearl, 20 millimeters in diameter.

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