UNCERTAIN TIMES
What You Need to Know, What You Can Do, and What We Recommend
Every industry faces its moments of uncertainty—and for jewelers, this is on of those moments. With costs climbing and questions looming, it’s easy to feel unsettled. But clarity starts with focus. Instead of reacting to what’s out of your hands, shift energy toward what you can control. Tighten your strategy, empower your team, and connect more meaningfully with your customers. Planning ahead isn’t just smart—it’s essential. When you lead with intention, you don’t just manage through change. You rise above it.
The Situation
Earlier this year, in our 2025 Planning Sessions, we forecasted that this would be a year filled with market unpredictability and nuanced consumer behavior.
Recent discussions around new tariffs—highlighted in a report by Shahla Karimi—have the potential to raise the cost of imported fine jewelry by up to 25%, with many scenarios falling in the 10–15% range depending on country of origin and material. But, the scenario is more than the potential tariff situation; it’s also the increased price of gold.
The full impact may not be known until after JCK Las Vegas, which makes this a pivotal moment for clear communication and smart strategy, not reactive decision-making.
Here’s what we know.
- Ultra-affluent consumers will likely continue purchasing unaffected—they buy for meaning and value.
- Budget-conscious consumers, especially in engagement ring categories, may look for ways to stay within their price range, considering options like lower carat sizes, lab-grown diamonds, or lower karat weights.
- Some consumers will consider purchasing early, before anything goes into effect.
And while those shifts matter, so does this: Fine jewelry is still among the most meaningful, lasting purchases people make. It celebrates love, life, and legacy. The question isn’t if they’ll buy—it’s how well you guide them when they do.
Prices are increasing in just about every sector, from luxury clothing, handbags, and travel. This is where the messaging matters. Jewelry endures and has value.
What You Can Do Internally.
In a shifting environment, clarity, consistency, and connection matter most. Here’s how to lead your business forward from the inside:
Vendor Engagement
- Contact your vendors now to understand their tariff contingency plans.
- Discuss how they intend to handle pricing, sourcing, and communication with their retail partners.
- Ask smart questions—but hold firm on your inventory strategy. There’s no need to overbuy or disrupt your seasonal cycles.
Staff Readiness
- Revisit your sales training. A confident, well-informed team is your best differentiator.
- Equip them with value-driven talking points to explain trade-offs in carat size, gold purity, or product options.
- Reinforce selling the emotion and meaning behind the purchase, not just the materials.
Clienteling & CRM
- Use your CRM tools to create personalized, timely outreach, especially to your top customers.
If a customer is planning an engagement or milestone gift, this is the moment to offer insights and support.
- Build the relationship beyond the sale.
- Remember important add-ons. Selling a smaller jewelry purchase right at checkout enough times can make a difference.
- Remember your service department and the extra income that can be derived from appraisals, etc. When was the last time you contacted your higher buyer to remind them that an updated appraisal would be prudent due to the increased gold pricing?
Post-Sale Service & Loyalty
Benefits matter. Make sure your clients know what they receive after the purchase:
- Free cleanings or inspections
- Lifetime sizing or service programs
- Loyalty rewards or private previews
- Trade-in/trade-up programs
These are powerful conversion drivers and reinforce long-term value.
Here’s what not to do.
Do not panic! We’ve been here before. And, we have some lessons to share:
Pulling back on your marketing can erase hard-earned brand equity and market share. While the knee-jerk reaction from less thoughtful retailers is to drastically reduce or, in rare cases, stop marketing altogether, therein lies your opportunity!
During Covid (as an example), for those who stayed the course, paid search costs dropped by as much as 50% while consumer search increased nearly two fold in the bridal category. (Read the full article “Bridal Boom”)
Staying visible signals strength and confidence to your customers.
Smart marketing during unpredictable times sets you up for long-term gain.
What Fruchtman Recommends.
We’re not here to push short-term fixes. We’re here to help you grow through this moment with strategy, perspective, and purposeful marketing.
Smart, Strategic Marketing
- Focus messaging on longevity and value: People don’t just buy jewelry—they invest in stories, memories, and legacy.
- Avoid urgency language. Instead, position the purchase as wise and meaningful, even in an evolving market.
- Make your store the one that helps people feel confident about their purchase, regardless of budget.
Restyle Campaigns that Resonate
Now is the perfect time to promote a Restyle or Jewelry Trade-Up Event
- Invite clients to bring in items they no longer wear or love.
- Offer a higher percentage value toward a new purchase or custom piece.
- Highlight sustainability, personalization, and emotional storytelling—not just value.
These events drive foot traffic, increase your average ticket, and build customer connections.
Reinforce Brand Presence
- Pulling back now only creates space for competitors.
- We’ll help you stay visible and credible with creative campaigns that reinforce trust and elevate your brand.
- Staying present isn’t just about sales—it’s about owning your role in the customer’s journey.
The Bottom Line.
We’re not worried—and we’re not standing still.
Yes, pricing may shift. But love doesn’t pause. Milestones don’t move. And for those thoughtful buyers seeking something meaningful, fine jewelry remains one of the most enduring, emotional, and valuable investments they can make.
Let’s make sure they see that. Let’s keep your store prepared, confident, and visible.
Fruchtman is already watching what’s next. And we’re ready to guide you through it.
