Lila speaks to The New York Times about how many consumers are slashing their jewelry expenditures and opting for less extravagance and more sentiment.
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.