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The Luxury Market

Jan25

Is Diamond Brilliance a Marketing Claim or Quantifiable Science?

Written by // Pamela Danzinger Categories // The Luxury Market

Is Diamond Brilliance a Marketing Claim or Quantifiable Science?

The luxury jewelry customer is changing -- Winning brands will adapt to their changing demands

No doubt you've seen the latest headlines on Tiffany & Company, like this from the Wall Street Journal, Tiffany Again Cuts Outlook, with its report that profits dropped 30 percent on "weaker demand, weighed down by high precious metal and diamond costs."

In studying the analysts' reports, it looks like Tiffany, which has historically led the luxury jewelry industry, continues to pursue strategies that worked successfully in the past, but may not be appropriate for today's changing and challenging jewelry market. If Tiffany is set in its ways and keeps repeating its 'same-old, same-old' strategies, it gives more adaptable companies an opportunity to capture market share lost by Tiffany.

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Unity Marketing's latest Luxury Tracking Study finds dramatic changes in the luxury jewelry market

In our most recent survey of luxury jewelry customers, we found that the share of luxury consumers who purchased jewelry rose from 13 percent to 15 percent.  While this measure of demand still lags the 18 percent tracked in 2010, it points to people's willingness to shop once again for jewelry items.

Jan25

Don't Let Your Business Fall Off the Fiscal Cliff

Written by // Pamela Danzinger Categories // The Luxury Market

Regardless of politics or policies, you must start thinking about growing your business in 2013

As I look around the world of business, I see an environment that has pushed the pause button. After a divisive and exhausting election season, it is no wonder that American business owners and executives seem to be in a holding pattern. The country spent many tiring months debating its future direction, and now we have emerged from that electoral fight and appear to be headed straight off thefiscal cliff. It is enough to make anyone want to buckle their metaphorical seatbelts and prepare for a bumpy ride.

But taking a wait-and-see attitude toward future economic developments will only put your business further behind in 2013, whichever way the political and economic winds blow. Instead, businesses should be harnessing the power of strategic marketing planning to better prepare for a successful year to come.

Jan25
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