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.