“80 percent of Millennials believe it’s important to purchase responsibly sourced jewelry”
The Spring 2019 edition of MJSA Retail Link features a special focus on responsible sourcing, with insights into how jewelry retailers can best satisfy the growing consumer demand for jewelry made with sustainable, responsible practices.
Published by MJSA, the trade alliance dedicated to professional excellence in jewelry making and design, the Retail Link biannually presents new jewelry styles, packaging, and display options offered by MJSA members. The current issue includes an in-depth article about how retailers can find responsible products—an increasingly important part of their business.
As the article discusses, issues such as fair trade, human rights, and sustainability have become as much a part of a sales conversation as the karatage of a gold bracelet or the 4Cs of a diamond. That’s particularly true for the Millennial generation, those born from the early 1980s up to around 2000 (a number that’s been estimated at more than 80 million). One of the retailers interviewed for the article, Brilliant Earth, conducted a survey that found "80 percent of Millennials believe it’s important to purchase responsibly sourced jewelry," said the company’s vice president of strategy and merchandising, Kathryn Money.
Such statistics have made many retailers take notice, given that Millennials make up the largest segment of consumers in the United States. "Today’s consumer has definitely changed, and jewelers need to be aware and change with the times," said Sam Jabbar of San Francisco–based Sausalito Jewelers. "We know for a fact that consumers will pay 20 percent more for quality and sustainability. The consumers are asking for it, and the industry needs to meet that demand."
To help retailers accomplish that, the article offers a range of advice on key topics:
• Where to start when sourcing responsible jewelry.
• An overview of the third-party programs certifying responsibly sourced materials.
• The place of lab-grown diamonds in the responsible story.
• The potential impact of blockchain technology.
The issue also features a selection of jewelry made with responsibly sourced materials (e.g., recycled metals, Fairmined gold, and fair trade gems). All are offered by MJSA member companies, which agree to abide by the alliance’s rigorously enforced Code of Ethics.
Free copies of the issue are available by contacting MJSA at 1-800-444-MJSA, ext. 3050, or e-mailing info@MJSA.org. Click here to see the digital edition.