Reflecting on the jewelry industry and what we can expect
Every year I like to create a post that reviews all the happenings in the jewelry business. The jewelry business is huge and is only continuing to grow year after year since I’ve started following it about a decade or so ago. One of the reasons why this business has been doing so well is the falling economy and the rising price of all precious metals. Here are a few of the major things that happened in 2011 and some things to look out for in the year to come.
Silver is now the new luxury item.
Silver used to be viewed as the cheap metal - something that you could get if you could not afford gold. Gone are those days. Silver has become one of the most popular metals in 2011 as the price of both gold and silver continue to rise. I suspect this will only continue to become more dominant in the coming years.
Selling your gold is no longer taboo.
Okay, maybe it wasn’t exactly taboo, but it was definitely not as popular and accepted as it is today. With a lot of manufacturers and retails alike getting into this popular cash for gold business, we saw a huge increase in the number of people that were selling off their old gold for some cash. This is only going to increase during the coming years so watch out for more dramatic late night commercials.
The Jewelry industry has stable jobs.
A lot of people have been realizing this as they switched between industries and into this one. Whether you are an entry level sales associate, or a seasoned jeweller and gemologist, the jewelry business is booming and shows no signs of slowing down. If you are looking for some long term stability in your career, consider making the move into the jewelry business. This doesn’t mean you have to open your own shop - there are plenty of positions available in existing stores that need to be filled.
Jewelry is now being sold inside the home.
This has been going on for a few years now, but it is just incredible the rate at which people are signing up for these home show jewelry businesses. People are becoming independent stylists and sales reps at all sorts of boutique-style jewelry shops and selling their lines in the comfort of their homes. If you are looking for some extra money on the side, this is definitely something to consider. Combining the stability of the jewelry industry with the flexibility of these types of positions and you get a winning combination.
There are still many other highlights in the industry that we will be keeping our eye on in the upcoming months. Bottom line is that the jewelry industry is well positioned and will see a lot of movement in the next few years. Exciting times ahead for sure.
Silver is now the new luxury item.
Silver used to be viewed as the cheap metal - something that you could get if you could not afford gold. Gone are those days. Silver has become one of the most popular metals in 2011 as the price of both gold and silver continue to rise. I suspect this will only continue to become more dominant in the coming years.
Selling your gold is no longer taboo.
Okay, maybe it wasn’t exactly taboo, but it was definitely not as popular and accepted as it is today. With a lot of manufacturers and retails alike getting into this popular cash for gold business, we saw a huge increase in the number of people that were selling off their old gold for some cash. This is only going to increase during the coming years so watch out for more dramatic late night commercials.
The Jewelry industry has stable jobs.
A lot of people have been realizing this as they switched between industries and into this one. Whether you are an entry level sales associate, or a seasoned jeweller and gemologist, the jewelry business is booming and shows no signs of slowing down. If you are looking for some long term stability in your career, consider making the move into the jewelry business. This doesn’t mean you have to open your own shop - there are plenty of positions available in existing stores that need to be filled.
Jewelry is now being sold inside the home.
This has been going on for a few years now, but it is just incredible the rate at which people are signing up for these home show jewelry businesses. People are becoming independent stylists and sales reps at all sorts of boutique-style jewelry shops and selling their lines in the comfort of their homes. If you are looking for some extra money on the side, this is definitely something to consider. Combining the stability of the jewelry industry with the flexibility of these types of positions and you get a winning combination.
There are still many other highlights in the industry that we will be keeping our eye on in the upcoming months. Bottom line is that the jewelry industry is well positioned and will see a lot of movement in the next few years. Exciting times ahead for sure.
Cold hard cash for your gold? I like it!
