The number of emails in my inbox alerting me about sales is seemingly infinite, and frankly, I’m losing interest.
The funniest was Cache’s “our sale’s on sale.” Really?!?! Bloomingdale’s and Macy’s regularly have fine jewelry on sale and clearance, a practice which undermines one of the category’s perceived competitive advantage, that of stored value. Blue Nile’s founding in 1999 was a harbinger of the category’s deterioration as it provided transparency and comparison shopping across the diamond supply chain. With Amazon having entered the competitive fray, the typically unquestioned pricing practices and thus, the luxury underpinnings of fine jewelry, could be further damaged. [Read more...]