The financial crisis has put the jewelry market into an empty zone with loads of products. With more and more consumers preferring to spend money on fuel and food, jewelry business has seen a decline in the latest market report.

The luster of Jewelry market is lost and most of the companies are relying on the Holiday season to sell the products in the form of novelties, gifts etc. Americans are concerned as to how they would spend on expensive gifts this season. Market analyst say that everybody is trying to cut down, not just the usual consumers, but even the high end brands.

The wealthy consumers are surely feeling the pinch of weak economy and they just don't want to spend on anything less than the bigger brands. They do not go down on their buying and prefer waiting than buying lower brands. For example women who shop only Prada and chanel shoes don't want to go down to Cole Haan, although its an amazing brand.

Analysts say that a person who would buy $30,000 jewelry would drop down to just $10,000 due to the huge financial meltdown. When economy goes down, the first thing that's hit is Luxury market. Jewelry sales fell down since last December with a recorded sales of only $6.5 million as against $6.7 million in previous year, according to the report from Commerce department.

Tiffany's however saw a huge increase in sale from the European travelers. During the Q2, Tiffany got a 2 percent rise in its US sales, thanks to international tourists.

Such a sudden fall in Jewelry market was expected. That is why myjewelpack stores brings you economical jewelry for this season which fits the present economical situation of common household.

Browse through our stores for more information.