RAPAPORT... Hope is a very human emotion that keeps us going during the toughest of times; it makes each day a bit brighter. That hope seems to be turning into a better reality as the diamond business begins to see some ripples of movement. But movement in the industry still depends on the consumer buying. It is tempting to cut back on marketing during recessionary times, but action needs to be taken — consumers need to be reminded that you are still out there. It is with that spirit that the National Jewelry Institute (NJI), a not-for-profit institute dedicated to preserving, researching and exhibiting fine jewelry from all over the world, teamed with New York City’s Office of the Mayor to create Sparkle Week at the end of April. New York Mayor Bloomberg issued a proclamation stating that Sparkle Week is to “celebrate the tremendous contributions the jewelry industry makes to the economic and cultural vitality of our city.”
To kick off Sparkle Week, the institute launched “Time and the Jeweler’s Art,” an exhibit, free to the public, of watches, ranging from fancy diamond-encrusted timepieces to sleek, sporty numbers, created by some of the most prestigious jewelers and manufacturers. The timepieces are showcased at The Forbes Galleries in downtown Manhattan. Watches were chosen because they are an item that appeals to both men and women and they are accessible to everyone. In addition to the exhibit, several stores around the city are participating in Sparkle Week, offering discounts, relief from sales tax, gift with purchase and other incentives to draw customers into their stores. It’s a good start to a program that has potential to grow in coming years. It may also be an event that can be adapted by jewelers in other cities to fit into their communities.
Even if clients don’t buy now, Sparkle Week may get customers out and thinking about future purchases. Judith Price, founder and president of NJI, sums it up: Sparkle Week is “to make people feel good.” And we all know the feel-good factor is one of the key reasons for buying diamond jewelry.
Article from the Rapaport Magazine - May 2009. To subscribe click here.