Thursday, February 3, 2011

Jewelry Sales on the RISE

Is is safe to say that the recession is over?
IDEX (International Diamond Exchange) Online reports that jewelry sales have increased dramatically over the last year, reaching record numbers. This is of course in comparison to a time when the US was swimming in the red back in 2009 during one of the most bleak economic periods in our county's history.
The light at the end of the tunnel must be a flawless, brilliant cut diamond because things are apparently looking up.

Jewelry sales in 2010 were up a dramatic 7.7 percent over the prior year. This was the largest percentage increase since 1999. In part, this large sales gain was due to easy comparisons during 2009 when sales were weak as a result of the recessionary environment.

Further, 2010 jewelry sales were 2.3 percent ahead of the prior record year of 2007, when total U.S. jewelry sales reached $62.0 billion. 

U.S. Jewelry Sales
$ Billions
Percent Change
* Preliminary

Source: IDEX Online News
Well that's good to hear. This is obviously a means for those in the jewelry business to rejoice, but it I think it also speaks to the mentality of today's consumer. A couple of years ago, as people tightened their belts and cautiously gripped at their purse strings, they braced themselves for the economic hell storm that was approaching. It brewed. It hurt. But now as it's slowly beginning to pass, there is evidence that we've made it through.
This isn't to say that name brand versus brand X isn't still a life altering decision for some. Recovery takes time and bouncing back isn't always easy. But giving up is never an option, especially for those who believe that living abundantly is our birthright.

Hard working people are becoming more comfortable with enjoying the fruits of their labor and wearing their efforts on their sleeves, or ring fingers, or wrists. This is nothing to be ashamed of. You sorta have that right as a consumer. I question the person who thinks they have the right to judge those who choose to make such purchases in the face of recession. To each their own. Some people believe that suffering somehow equates to righteousness. I'm not one of those people, but again, who am I to judge?
I think that if something like jewelry sales is going up, its a great indication that other industries are building and people are doing a little better than we were before. That's something to be happy about. So why hate?

Sometimes looking good is feeling good, and feeling good is kind of the point. I personally feel good in a pair 2 carat diamond stud earrings. Just sayin' ~vK

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