Increase In Fine Jewelry Sales Indicates Economy Is Improving
CLEVELAND, March 21, 2013 /PRNewswire/ -- While the U.S. economy is recovering more slowly than analysts might like, one indicator of growing consumer confidence is that fine jewelry sales are off to a strong start in 2013.
"Our January and February sales are more than double last year's," said Cleveland-based jewelry designer Heather Moore, "and we currently sell more pieces in 14k gold than Sterling silver. People are starting to relax and spend money again."
The price of gold has fallen more than seven percent over the last six months, a reflection of the market's growing confidence. The Dow Jones industrial average recently hit a record high that erased losses suffered during the last recession. On top of that, car sales are at a five-year high, home prices are beginning to rise, and many U.S. companies are reporting record profits.
"Like other industries, fine jewelry experienced a downturn while the economy struggled," said Moore. "But because personalization has added value that sets our work apart, we were not as affected by the changing price of precious metals. We focused on expansion by investing in Lean Manufacturing and other business efficiencies."Moore, who recently won First Place in the Gold Design Category at the elite Centurion Jewelry show in Scottsdale, Arizona, is at the forefront of the personalized jewelry movement. Customers design handmade pieces that commemorate the people, places, and events that are most important to them, and Moore's staff of artisans makes them in her Cleveland, Ohio, studio. "I have always had an intense desire to document the themes in life that have made a true impression on your character," said Moore. "We make an impression in the metal just like the story that you document has made an impression on your life. You have to embrace those moments and cherish who you are."
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