September 28, 2006 11:24 AM

It may not be the best time to go into the jewelry business
Posted by Diane Danielsonat 11:24 AM

In Boston, many are still reeling from the news that famed jeweler Shreve, Crump and Low is down and out and on the block for sale at only $9.6 milliion ... not a lot of inventory for a 100+ year old company. (although hot off the presses is a last minute attempt to save them by David & Co. and a few others). But, then this morning there was an article about Generation Y not buying watches in the National Jeweler:

SEPTEMBER 22, 2006 - Paso Robles, Calif. -- Consumers ages 18-24 are less likely than other age groups to use a watch as their primary way to tell time, a new survey finds.

The survey, conducted by the Jewelry Consumer Opinion Council (JCOC), found that of the 16 percent of the 18 to 24 year olds who do not own a watch, 78 percent tell time with digital devices, and 42 percent say ownership of cell phones or iPods makes watches unnecessary.