Events & Awards

The Cultural Forces Influencing Today’s Consumers

Events & AwardsMar 07, 2017

The Cultural Forces Influencing Today’s Consumers

The shrinking middle class and our more casual society were among the topics covered at Tom LaForge’s keynote speech at the Atlanta Jewelry Show.

Atlanta--A former Coca-Cola executive delivered both good news and bad news in his keynote speech at the Atlanta Jewelry Show over the weekend.

The good news: There is a desire among consumers today to shop at small retailers with trust in big companies on the decline. The bad (though not surprising) news: There are a number of cultural and economic factors working against jewelers today.

Tom LaForge, who delivered the Sunday morning keynote, is the founder of a company called MacroForces Inc.

He used to be the global director of Atlanta-based The Coca-Cola Company’s Human and Cultural Insights Department, where he worked to shore up trust in the company among consumers.

During his presentation, LaForge said that big businesses like Coca-Cola currently are among the least trusted institutions in the United States. (In fact, according to the survey he presented, the only entity trusted less is Congress.)

“There is a movement within this country to get to local and community-based businesses,” LaForge said.

But in order to take advantage, jewelers have to understand the business, economic and cultural forces at work in America today and how to navigate them.

None of the forces LaForge listed should come as a surprise to anybody.


Tom LaForge
First, he noted, we are living through an extremely acrimonious time in U.S. history. The country is deeply divided and people who find themselves on opposite ends of the social spectrum are not really communicating.

Instead, we are surrounding ourselves with people who share the same views and, thus, falsely believing that the majority of people think like we do.

“We are more different than we realize,” he said. “There are a lot more people not like you than you thought.”

Retailers need to keep this in mind, LaForge said. They need to understand that, for example, not everybody is going to react the same way to an advertisement for wedding jewelry featuring two brides and, therefore, they might want to find a more subtle way to market to same-sex couples (which he highly recommends doing).

He also addressed the confluence of economic and cultural factors that have led to a decline in demand for jewelry--the shrinking of the middle class, millennials who are burdened with college debt, a desire for experiences and electronics over other items and a more casual way of dressing.

For jewelers, it is a far cry from the halcyon days of the 1950s, the post-war period when disposable income
flowed freely and people regularly dressed up for formal dinners, he said.

While nobody can turn back time, there are things jewelers can do to help make themselves more relevant and appealing to today’s consumers.

LaForge said the best brands and retailers today are those that are not just functional and emotional but also have a social message, conveying a sense that they want to make the world a better place.

{youtube} litXW91UauE{/youtube}
This six-minute sketch from Dove’s “Real Beauty” campaign is called “You’re More Beautiful Than You Think.”

He pointed to Unilever-owned Dove and the brand’s “Real Beauty” campaign as an example. The campaign isn’t just about selling more body wash and soap, but getting across the message that the company wants to improve the self-esteem of women and girls.

LaForge also addressed the importance of relationships today--getting to know and understand customers by simply starting conversations with them. The internet cannot relay that sense of commitment and relationships that consumers seek, and that is the physical store’s key advantage today.

“You’ve got to learn to leverage that,” LaForge said.

In his presentation, LaForge mentioned a number of books that he recommended jewelers read to better under the business, cultural and economic forces at work today.

They included the following.
--“You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life,” by Jen Sincero
--“To Sell is Human: The Surprising Truth About Moving Others,” by Daniel Pink
--“Hillbilly Elegy: A Memoir of a Family and Culture in Crisis,” by J.D. Vance
--“White Trash: The 400-Year Untold History of Class in America,” by Nancy Isenberg
--“A Slice of the Pie: How to Build a Big Little Business,” by Nick Sarillo
--“The Righteous Mind: Why Good People are Divided by Politics and Religion,” by Jonathan Haidt
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Asian Star’s diamond manufacturing facility in India
SourcingMar 27, 2024
Compliance, Caution, and Concern: The Current Outlook of Indian Diamantaires

There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.

Kira Diam solar plant
Lab-GrownMar 27, 2024
Indian Lab-Grown Diamond Manufacturers Keep Growing

A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.

Bharat Ratnam, a Mega Common Facilitation Centre (CFC)
SourcingMar 27, 2024
Reinvigorating SEEPZ, the Epicenter of India’s Studded Jewelry Exports

The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.

Jewelers of America Fly In Washington, D.C.
Brought to you by
How Jewelers of America Represents Your Business

For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.

SRK Empire and SRK House
Policies & IssuesMar 27, 2024
SRK Exports’ Journey Toward Net Zero Impact

By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.

Weekly QuizMar 21, 2024
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Georgia May Jagger Tommy Hilfiger ad campaign
FinancialsMar 27, 2024
Movado’s Full-Year Sales Sink 11%

The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.

Hand holding shopping bags
SurveysMar 27, 2024
Consumer Confidence Held Steady in March

Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.

BTYB-HoBrothers-updated.png
Brought to you by
The Scalable, Professional, and Effortless Solution for High-Demand Custom Jewelry Retailers

Ho Brothers offers scalable solutions for the future of custom jewelry.

Bernadette Mack
Policies & IssuesMar 27, 2024
Mercury Free Mining Hires Bernadette Mack

The former WJA executive director is MFM’s new managing director.

April Is Diamonds Do Good Month
Policies & IssuesMar 27, 2024
Diamonds Do Good Announces Its April Initiative

DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.

Tiffany & Co. With Love, Since 1837
MajorsMar 26, 2024
Tiffany & Co. Debuts ‘With Love, Since 1837’ Campaign

Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.

National Jeweler columnists Duvall O’Steen and Jen Cullen Williams
ColumnistsMar 26, 2024
Creative Connecting: AI Tools and Tips for Social Media

Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.

Nordstrom Men’s Store New York City
MajorsMar 26, 2024
Nordstrom May Go Private, Says Report

The retailer previously turned down an $8.4 billion offer in 2018.

Interior of Miami Lakes Jewelers
IndependentsMar 26, 2024
Miami Lakes Jewelers to Close After 37 Years

The Florida store’s owner Miguel Gonzalez is retiring.

 International Gemological Institute
GradingMar 26, 2024
IGI Announces Tech for ID’ing Lab-Grown Colored Diamonds

The lab stresses the importance of accurate identification, as the difference in price is “substantial.”

Kendra Scott lab-grown diamond jewelry
CollectionsMar 25, 2024
Kendra Scott Debuts Lab-Grown Diamond Fashion Jewelry

The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.

Carie Lehrke and Megan Mattice
MajorsMar 25, 2024
Borsheims Announces New VP of HR, Assistant Manager

Longtime employees Carie Lehrke and Megan Mattice have received promotions.

My Next Question graphic vintage jewelry webinar
Recorded WebinarsMar 22, 2024
Watch: How to Buy and Sell Vintage Jewelry

Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.

Chris Clipper and Robert Lepere
MajorsMar 22, 2024
David Yurman Announces New CFO, Chief People Officer

Chris Clipper and Robert Lepere join the company with 50 years of combined experience.

Nakard pyrite earrings
CollectionsMar 22, 2024
Piece of the Week: Nakard’s Pyrite Earrings

The trendy, metallic earrings wink at classic spring colors.

Stock image of police cars with their lights on
CrimeMar 21, 2024
Sparks Fly as Burglars Lose Safe on California Freeway

JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.

Grizzly Mining rough emeralds
SourcingMar 21, 2024
Grizzly Sells 4,145-Carat Emerald for Over $1M

The miner’s March auction generated $19 million.

Helen McCluskey
MajorsMar 21, 2024
Signet Jewelers Names New Board Chair

Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.

Julia Roberts wearing a Chopard necklace
CollectionsMar 20, 2024
Julia Roberts Co-Designs New Chopard Jewelry Collection

“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."

Tanzanite white gold ring Jared
FinancialsMar 20, 2024
Signet’s Q4 Same-Store Sales Sink 10%

The jewelry giant also posted a double-digit drop in same-store sales for the full year.

Gold and diamond Baume & Mercier watch Elvis gave to Dodie Marshall
AuctionsMar 20, 2024
Vintage Baume & Mercier Gifted by Elvis Going Up for Auction

Elvis gave the watch to actress Dodie Marshall after filming “Easy Come, Easy Go.”

Stock image of a gavel and handcuffs
CrimeMar 19, 2024
Jewelry Factory Supervisor Arrested for Allegedly Stealing Precious Metals

The man was charged with money laundering in connection with the theft of gold, silver, and platinum over the course of three years.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy