tag:blogger.com,1999:blog-8038406348219751696.comments2023-07-31T07:06:58.336-04:00GemThoughtsBen Janowski, Janos Consultantshttp://www.blogger.com/profile/17303747263751240923noreply@blogger.comBlogger126125tag:blogger.com,1999:blog-8038406348219751696.post-55960527144886497492021-01-30T11:47:59.786-05:002021-01-30T11:47:59.786-05:00Thank you Rachel, thank you Yoram, and thanks to a...Thank you Rachel, thank you Yoram, and thanks to all the readers who have responded on LinkedIn, Twitter and Facebook, and directly on my e-mail. I will still reach out on occasion when inspired! My best to everyone!Ben Janowskihttps://www.blogger.com/profile/10252537417007837226noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-37852172056999625852021-01-29T05:29:34.533-05:002021-01-29T05:29:34.533-05:00Ben, it was a great pleasure to follow your opinio...Ben, it was a great pleasure to follow your opinionated writings and views. Hopefully we will get a few more scattered articles in the future, always looking forward to one. Best of luck, be well. YYoram Finkelsteinhttps://gemconcepts.net/noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-27930981833131641252021-01-28T22:30:17.010-05:002021-01-28T22:30:17.010-05:00My dear friend Ben, we go back a long time....your...My dear friend Ben, we go back a long time....your wisdom will be missed.,<br />But it’s always best to leave them wanting more!rachel rosinnoreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-70937603016737299102021-01-17T14:22:43.313-05:002021-01-17T14:22:43.313-05:00Ben, as always your insights are extraordinary and...Ben, as always your insights are extraordinary and spot on. Jim Rosenheim from Tiny Jewel Box once told me the only thing inevitable in our industry is change. The only problem is being in the right place at the right time for what ever that change maybe. This past year and the one in front of us will continue to be trying from all aspects. I just hope that first we survive it health wise and secondly that we survive at all.<br /><br />Peace my friend and stay safe.<br /><br />JeffThe Diamond Guyhttps://www.blogger.com/profile/13005541337386538271noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-39496556646159357102020-12-15T15:03:11.088-05:002020-12-15T15:03:11.088-05:00Very interesting article. It is sometimes difficul...Very interesting article. It is sometimes difficult to grasp the changes around us. For example, the Met has done away with paper maps. All information will be available only on I Phone. When someone at our (Zoom) meeting objected that not every guest may have one, she was told everyone has one and she should get with it.<br />HarrietAnonymoushttps://www.blogger.com/profile/08085042195436591444noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-54566785911731206892020-05-04T22:01:03.207-04:002020-05-04T22:01:03.207-04:00Are millennials killing permanent employment, or a...Are millennials killing permanent employment, or are corporations doing the killing. Right now, we are seeing millennials getting slugged for the second time in a decade - first by the Great Recession, now by Covid-19. And this time Gen-Z is getting dragged in too. The Gig economy has been boosted by 40 years of stagnant wages that deprive people of the ability to build a life and pay off college loans; and by so many corporations being merged, stripped of assets, and showing no concern for employees. <br />You are right that millennials are now the largest consumer group. And as such they will have the largest influence in the American economy. We are about to learn how they really feel about the US economy!Ben Janowskihttps://www.blogger.com/profile/10252537417007837226noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-44997087461408008852020-05-04T04:35:19.182-04:002020-05-04T04:35:19.182-04:00In the world of work, Millennials are “killing” pe...In the world of work, Millennials are “killing” permanent employment by choosing gig work. But is it true that the gig economy is gaining popularity only because of Millennials? Or is it merely a coincidental statistic because Millennials happen to make up the majority of the workforce today?Katleen Garciahttps://www.blogger.com/profile/10089780981593436891noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-63799153968181714822020-02-15T10:14:12.998-05:002020-02-15T10:14:12.998-05:00Great Article! The highest quality gemstones have ...Great Article! The highest quality gemstones have the purest colors, deep tones (not too light or dark), and saturation. In terms of clarity, it's hard to find flawless <a href="https://gemsdiamondsbyshikha.com/product-category/gemstones/" rel="nofollow">loose gemstones</a> without any imperfections, which are created during their formation. <br /><a href="https://gemsdiamondsbyshikha.com/product-category/gemstones/briolette-beads/" rel="nofollow">briolette beads</a> <br /><a href="https://gemsdiamondsbyshikha.com/product-category/gemstones/heishi-beads/" rel="nofollow">heishi beads</a><br /><a href="https://gemsdiamondsbyshikha.com/product-category/diamonds/moissanites/" rel="nofollow">moissanite diamonds</a><br />Pawanpatilhttps://www.blogger.com/profile/15914921865174938860noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-75692147656365619662019-12-24T12:06:42.993-05:002019-12-24T12:06:42.993-05:00The most interesting aspect of the current situati...The most interesting aspect of the current situation, natural vs. mm diamonds is the pricing and the value. The retailers that I have spoken with regarding the inquiries and the sales of same "in store" all have taken the approach that they will not take back the mmd's that they sell for a trade in or for an upgrade. Signet has an actual policy statement of such. So what is the value of the mmd, I believe nothing if that is what the retailers positions are. An interesting dilemma and enigma as we go forward into 2020.The Diamond Guyhttps://www.blogger.com/profile/13005541337386538271noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-962998407691887832019-12-22T12:33:39.981-05:002019-12-22T12:33:39.981-05:00"The prophets of doom, saying that MMDs are w..."The prophets of doom, saying that MMDs are worthless, just have no basis for saying that. Are they dropping in price? Yes, as would be expected with so many companies jumping into the business. But they miss the point. They are filling a real consumer need, and expanding the diamond business at. time when it is struggling to capture luxury dollars." <br /><br />Ben, I believe that current prices of LGD's, sold at a "discount" to natural diamonds is one of the things that is very wrong with the LGD model. Yes, as more machines come on line, supply will catch up to demand and then their prices will fall sharply. Not for any other reason than there will be competition for market share among the growers (owned by whom, exactly?) and the cost of production is FAR less than the cost of opening and operating a diamond mine. Because of relatively low manufacturing costs, especially as crystal sizes increase, their prices will continue to fall. Abe Shermanhttps://www.blogger.com/profile/08893279361390953113noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-70810868208978312422019-12-21T13:15:16.093-05:002019-12-21T13:15:16.093-05:00Ben, I think you're spot on. As you know from ...Ben, I think you're spot on. As you know from the many discussions we've had, I think anything that gets consumers interested in fine jewelry is a good thing, especially as Boomers age out of the market and Millennials and Gen-Z are interested in other things. Gazing into my own crystal ball, I predict natural diamonds settling into the luxury end of the industry, and eventually the cheap lower end moving into MMDs. My gut reaction is that the tipping point for the shift will be when MMDs retail for about 70% off the price of comparable naturals. I don't think it's going to spell the end of the jewelry industry at all--if anything it could give it a boost, but to your point, it will be a paradigm shift. I look at it like this: a Kia and an Audi are both cars. Both have engines, brakes, steering wheels, and seats. Both will get you from point A to point B. The differences are in cost, performance, and how important it is to the driver to have a top-of-the-line Audi vs. a stripped-down Kia while they're getting from A to B. Ditto with diamonds.Hedda Schupakhttps://www.blogger.com/profile/09207494861882651558noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-38821033334460145412019-10-22T16:11:51.072-04:002019-10-22T16:11:51.072-04:00Yes, answers are not easy to come by, as there wil...Yes, answers are not easy to come by, as there will be very different answers depending on where one is located and the nature of the business. You mention lowering mark-ups on what I have always called “naked items”, that is, as you say easily compared products. In fact, for many people, that was done already years ago. The key, I believe, is in two areas - brand and services. Both of those aspects in any jewelry business are as important, or more important, than the product line. One can have the best line, but if there is poor projection of who you are and what you offer, the future will not be pleasant.Ben Janowski, Janos Consultantshttps://www.blogger.com/profile/17303747263751240923noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-37373351097006050682019-10-21T14:37:08.771-04:002019-10-21T14:37:08.771-04:00Thanks for your thoughts.
Very thorough presentati...Thanks for your thoughts.<br />Very thorough presentation, unfortunately not a lot of answers. One answer to the problem is that many jewelers have not embraced the new reality that they need to lower their mark-up (on easily comparable merchandise) i.e. loose diamonds, stud earrings, diamond basics etc. It's essential to keep and build on one's customer base to assure future success and a vibrant consuming public that remains loyal and tells their friends and family about you. H&A.comhttps://www.blogger.com/profile/17407144800960127171noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-61531580419104753942019-10-21T09:55:34.685-04:002019-10-21T09:55:34.685-04:00As usual you hit the nail on the head. Thank you.As usual you hit the nail on the head. Thank you.The Diamond Guyhttps://www.blogger.com/profile/13005541337386538271noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-12061260873080897192019-10-19T22:42:57.513-04:002019-10-19T22:42:57.513-04:00This comment has been removed by a blog administrator.Anonymoushttps://www.blogger.com/profile/17779350440971061053noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-46865453655535853442019-09-29T03:50:08.139-04:002019-09-29T03:50:08.139-04:00Good articles, Have you heard of LFDS (Le_Meridian...Good articles, Have you heard of LFDS (Le_Meridian Funding Service, Email: lfdsloans@outlook.com --WhatsApp Contact:+1-9893943740--lfdsloans@lemeridianfds.com) is as USA/UK funding service they grant me loan of $95,000.00 to launch my business and I have been paying them annually for two years now and I still have 2 years left although I enjoy working with them because they are genuine Loan lender who can give you any kind of loan.ANDRAINO ADAMShttps://www.blogger.com/profile/12395837976164457170noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-3292549755101302612019-08-28T21:34:44.851-04:002019-08-28T21:34:44.851-04:00Those receiving money for spreading their faux sci...Those receiving money for spreading their faux science are actually those scientists who have been living on vast amounts of grant money (for decades) for spreading the Man-made global warming hoax. The left doesn't believe it either, else would they be buying 15 million dollar houses... a stones throw from the seashore? Alas.H&A.comhttps://www.blogger.com/profile/17407144800960127171noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-86912749078174513562019-08-27T10:06:32.159-04:002019-08-27T10:06:32.159-04:00The "experts and scientists" cited above...The "experts and scientists" cited above (not "many" as cited above, but a smattering) are paid to disagree with the vast majority of scientific thought about climate models. <br />It serves their the interests of their corporate and political sponsors for them to disagree, and to use shrill claims of over-reacting to prevent profit loss for the next quarter.<br />That they are able to draw in otherwise sensible, thinking members of society into their bogus claims is highly problematic.<br />Alas.Beahttps://www.blogger.com/profile/08428665781019562995noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-80242535325093019392019-08-23T20:38:18.507-04:002019-08-23T20:38:18.507-04:00This comment has been removed by a blog administrator.H&A.comhttps://www.blogger.com/profile/17407144800960127171noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-40564364654174758652019-08-04T13:27:00.528-04:002019-08-04T13:27:00.528-04:00Spot on Ben and Hedda. Ben, this is one of the few...Spot on Ben and Hedda. Ben, this is one of the few articles written by someone of our generation that I will send on to my kids -- they will agree with every word. Our daughter and hub are in the gig econ and doing very well, and our son is well employed in what looks like a secure job. But none of them feel truly secure about the future. Such is their reality.Peggy Jo Donahuehttps://www.blogger.com/profile/07601202547455175930noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-11291750485479317092019-07-29T10:21:26.893-04:002019-07-29T10:21:26.893-04:00Spot on, Ben. Another key point you alluded to wi...Spot on, Ben. Another key point you alluded to with your Uber example, and I daresay is going to be more relevant than we probably realize, is access over ownership and luxury bargains, as evidenced by the burgeoning secondhand market. Sites like Rent The Runway allows one to wear a designer gown for an event and feel special for a night without shelling out thousands to own it. Attending wine and scotch tastings are more important than owning a $200 bottle of one's own. And the secondhand market is on fire--that, I suspect, is going to do one of two things, either flame out because prices are too close to buying new, or luxury brands will jack up the prices of new goods to a stratospheric, and unsustainable, level. Hedda Schupakhttps://www.blogger.com/profile/09207494861882651558noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-68010608260293519252019-07-18T10:50:01.266-04:002019-07-18T10:50:01.266-04:00Powerfully written, Ben, and so insightful. I find...Powerfully written, Ben, and so insightful. I find that the people I know who are in safe secure jobs (often in the public sector) really can't comprehend what's going on or why many people don't feel more optimistic about the future. This may be an issue for Baby Boomer owners of jewelry companies (retail and wholesale), too -- their income feels secure as they near the end of their careers -- but they cannot fathom how different reality is for their customers. Thus, it's hard to put into place changes to meet those challenges. Those newer entrants to our industry that seem to be doing well are either privately funded (usually by a wealthy family) -- or they are brilliant ones who have a great idea that hits younger gens squarely where they live. The industry today is in a phase that reminds me of the 1930s -- new innovations were being started, but it would take a while to see what would succeed. When I was writing the 24k club history -- a whole 1920s gen was swept away by the Great Depression ... by the late 1940s - it was clear that a new gen was on its way. Peggy Jo Donahuehttps://www.blogger.com/profile/07601202547455175930noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-69387471018907925022019-07-15T12:06:22.399-04:002019-07-15T12:06:22.399-04:00Well thought out Ben, (as usual). I agree that our...Well thought out Ben, (as usual). I agree that our industry is in a very peculiar and troublesome spot currently. Change is a dynamic principle that too few have control over and yet it is always inevitable. What these changes will be and how slow or quickly they appear is anyone's guess. So like that old boy scout motto, " be prepared".The Diamond Guyhttps://www.blogger.com/profile/13005541337386538271noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-65308782212477160812018-09-01T10:02:57.013-04:002018-09-01T10:02:57.013-04:00I haven't seen what quality they will be but t...I haven't seen what quality they will be but the photos on the website look fabulous. The diamonds show the tell tale "arrows" patterns indicative of excellent cutting. I can see many budget conscious millenials buying the one carat pendants in sterling for $900. Then they throw away the sterling silver mounting and pop them into a Tacori or similar designer mounting. They end up with a $10,000 look for a fraction of the price and use the savings for a honeymoon. I hear the familiar "Danger Will Robinson" warning in the air for all of us. All of us except Debeers that is.Anonymoushttps://www.blogger.com/profile/15102153917270521210noreply@blogger.comtag:blogger.com,1999:blog-8038406348219751696.post-76761003418353140862018-06-18T16:10:29.524-04:002018-06-18T16:10:29.524-04:00Hedda, nothing like saying what you think! Yes, I...Hedda, nothing like saying what you think! Yes, I recall you saying, many times, that women self-purchasing was a big piece missing in industry thinking. Of course, half of it all is women smiling nicely as they suggest what men should buy, so they ran the whole business all along. <br />We could make a rough comparison between the advent of junk diamonds 30 years or so ago, and the advent of MMDs over the last decade or so. Both serve to widen the market by providing great price points. But the big difference is that MMDs can be very high quality "diamonds", something that can't be said for junk. That difference presents an entirely different equation: Do I really want tp spend lots more money for stones that are ancient, or will I be happy owning a beautiful piece of jewelry, and put the rest of the money into my retirement? Women, being far more practical than men, will, I believe, pick the latter. Hang in there, Hedda, no matter what, we are in for a ride.Ben Janowski, Janos Consultantshttps://www.blogger.com/profile/17303747263751240923noreply@blogger.com