Your Intrepid Reporter Gets a Real Time LGD Market Update...
I spent 24 hours in NYC last week and went from office to office and meeting to meeting with key players in the LGD supply chain.
Here’s my update on the state of the LGD market as the holiday season is in full swing and 2024 winds down.
No putting this genie back in the bottle
We should all be thankful that the LGD category came along. LGDs are bringing more younger consumers into jewelry stores. It’s exactly what a tradition bound, change averse industry needed.
Next gen consumers are shopping for jewelry and buying jewelry in large measure because they have heard about LGDs.
LGD jewelry is shipping out of NYC offices in huge volumes.
Prices are firming
Prices are definitely firming at the wholesale level with some reporting no decreases in the past few months.
Retailers are buying inventory of LGD jewelry in styles that turn quickly so they can keep the customers happy.
Every company is looking for staff
Every office I visited was hiring. But each of them is struggling to find the right person and the pool of younger potential employees, who are interested in working in the jewelry space, is VERY limited.
Got to get me a piece of that consumer pie
I have never heard so many companies in the wholesale channel looking for access to the consumer pie.
It’s the ocean of opportunity and the fountain of greater margin.
But it’s also not so easy to be a retailer these days.
Female founders are the leaders in LGD
Do you want to know where the LGD biz is headed?
Find a female founder of a retail LGD brand and really listen to what they have to say.
