Monday, July 6, 2009

Lila Dishes for The New York Times

Lila speaks to The New York Times about how many consumers are slashing their jewelry expenditures and opting for less extravagance and more sentiment.

In this economy, many consumers would rather keep their money in their wallets than on their fingers, necks or ears. As people re-examine their budgets, jewelry is turning out to be one of the easiest places to cut back — or trade down.

“The half-carat is the new three-carat,” explains Lila Delilah of Madison Avenue Spy, a blog about designer sales.

Yet the understandable penny-pinching by consumers is putting a painful squeeze on the jewelry industry.

Click here to read Stephanie Rosenbloom's full article, Not Too Precious for a Recession.

Have you cut back on your jewelry spending? Let us know how in the comment section below.


Anonymous said...

Cut back on spending----no---just spending more wisely. There are a lot of good jewelry bargains out there and "cash is king"--what store is going to turn down a lowball, but reasonable, $ offer if the buyer has the cash in hand??

Anonymous said...

I am glad that I got my two carats years ago.

Thumbelina Fashionista said...

Jewelry, yes. I've decided now is the time for only costume.

Shoes, no. I can't give those up!

Anonymous said...

My sentiments. Thanks be go God I got my ROCK 4 years ago when people were still getting bonuses and money wasn't so tight. That's how my fiance afforded my beautiful engagement 2.75 carat ring.

I feel sorry for anyone getting engaged this year. It's all about scrimping and saving.

Anonymous said...

Jewelry has never been my thing. A few nice real pieces and I'm good. I could go years without buying any. Bags and shoes however is another story...