Palladium is an affordable metal that is naturally white and durable. The price of palladium is currently much lower than gold or platinum, so it seems as if palladium would be the right choice for anyone looking to get a little more bang for their wedding buck. While there always will be a premium consumer looking for a supreme metal like platinum (just like there will probably always be customers for luxury cars), palladium just might be the better choice over white gold if you are shopping for a less expensive white metal.
So why isn’t palladium more popular?
Earlier this year, I found out that the main organization in charge of promoting palladium – Palladium Alliance International – was either disbanded or at least put on indefinite hiatus. One of the rumblings that I have heard is that the price of palladium was currently too low to make any publicity efforts financially worth while. Of course, there’s most likely much more to the story, but many of my Palladium Alliance International contacts were suddenly unreachable, and only after more digging (and a phone call with a very tight-lipped publicity firm owner) did I find out that these people might either be out of jobs or hopefully working elsewhere. At approximately the same time, I read on Google Insights for Search that consumer interest in two palladium-related keywords rose up to 60% in the Google search engine. What timing! The spike was only temporary, but it definitely could have been used for palladium’s advantage.
Palladium is not a direct substitute for platinum. It does have many similar qualities, but platinum is, well, PLATINUM! However, palladium can be the right choice over white gold if platinum is not an option. After all, white gold is not naturally white; it is yellow gold that can eventually have zinc, palladium and silver added to give a white appearance. Both platinum and palladium are naturally and even possibly eternally white. Not once during my almost ten years in the jewelry industry have I heard a consumer exclaim – “oh, my platinum ring is turning yellow!” Nor report that a palladium ring had unexpectedly turned a yellow color, either.
It’s time for jewelers and manufacturers to embrace the opportunity to properly position palladium and correctly educate the consumer about all of their metal choices. And for consumers to really investigate to learn about what’s out in the marketplace for options. A few years ago, Novell released a “Choosing the Right Metal for Your Bridal Jewelry” brochure with the hope of giving the average shopper a clearer understanding about the benefits of popular precious and alternative metals. I firmly believe that an educated consumer is the better customer for the jewelry industry at large; lead them to the proper facts so they can choose the metal that right for their circumstance or desire. Without an organization like the Palladium Alliance International, there is a definite gap in the consumer’s education process. Yes – I want to sell as much platinum as possible for my company, as I value the benefits of platinum with high regard. However, if an individual’s choice is palladium vs. white gold, then I feel it is all too important for each metal’s characteristics to be positioned correctly. I also believe in fair comparison and proximity positioning for consumer products. In the end, I want a happy customer, because a happy customer just might be a jewelry store’s repeat customer. Again and again. Isn’t that what it’s all about?
So why isn’t palladium more popular?
Earlier this year, I found out that the main organization in charge of promoting palladium – Palladium Alliance International – was either disbanded or at least put on indefinite hiatus. One of the rumblings that I have heard is that the price of palladium was currently too low to make any publicity efforts financially worth while. Of course, there’s most likely much more to the story, but many of my Palladium Alliance International contacts were suddenly unreachable, and only after more digging (and a phone call with a very tight-lipped publicity firm owner) did I find out that these people might either be out of jobs or hopefully working elsewhere. At approximately the same time, I read on Google Insights for Search that consumer interest in two palladium-related keywords rose up to 60% in the Google search engine. What timing! The spike was only temporary, but it definitely could have been used for palladium’s advantage.
Palladium is not a direct substitute for platinum. It does have many similar qualities, but platinum is, well, PLATINUM! However, palladium can be the right choice over white gold if platinum is not an option. After all, white gold is not naturally white; it is yellow gold that can eventually have zinc, palladium and silver added to give a white appearance. Both platinum and palladium are naturally and even possibly eternally white. Not once during my almost ten years in the jewelry industry have I heard a consumer exclaim – “oh, my platinum ring is turning yellow!” Nor report that a palladium ring had unexpectedly turned a yellow color, either.
It’s time for jewelers and manufacturers to embrace the opportunity to properly position palladium and correctly educate the consumer about all of their metal choices. And for consumers to really investigate to learn about what’s out in the marketplace for options. A few years ago, Novell released a “Choosing the Right Metal for Your Bridal Jewelry” brochure with the hope of giving the average shopper a clearer understanding about the benefits of popular precious and alternative metals. I firmly believe that an educated consumer is the better customer for the jewelry industry at large; lead them to the proper facts so they can choose the metal that right for their circumstance or desire. Without an organization like the Palladium Alliance International, there is a definite gap in the consumer’s education process. Yes – I want to sell as much platinum as possible for my company, as I value the benefits of platinum with high regard. However, if an individual’s choice is palladium vs. white gold, then I feel it is all too important for each metal’s characteristics to be positioned correctly. I also believe in fair comparison and proximity positioning for consumer products. In the end, I want a happy customer, because a happy customer just might be a jewelry store’s repeat customer. Again and again. Isn’t that what it’s all about?
Please note: This essay represents the ideas, opinions and philosophies of the author, and does not necessarily represent those of his current employer.
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