In case you haven't noticed, the times they are a-changin', wreaking havoc on many businesses. In particular, the jewelry industry is being hit especially hard. To help jewelers find ways to adapt to these changes, we met with several of them from across the U.S. recently to discuss strategy.

In the past 10 years, new forms of digital media have empowered brands more than ever to build two-way relationships with their clients and fans. When people talk about their favorite brands, products and services, it can often sound like they're reminiscing about an old friend, or describing a family member. Brands, especially those in the luxury sector, need to realize this and begin envisioning the relationships they build with their clients as social, and not only commercial. What does this mean for brands today?

Recently, the concept of the HENRY - High Earner, Not Rich Yet - has become very popular with marketers, especially those looking for audiences with the potential for high discretionary spending. Advertisers looking to reach consumers on their way toward affluence have likely viewed this audience as the perfect target for their advertising campaigns. In some respects, they'd be correct, as HENRYs represent consumers who likely meet many of the qualifications for affluence.

Affluence marketers define their targets in many different ways (for example, by income, wealth, generation, buying habits, gender, or attitudinally). We believe that affluence and wealth are in the eyes of consumers and marketers. This column provides selected insights regarding wealthy American consumers (18 or older) in total and among adults with personal liquid assets of $1 million or more segmented by generation. Based on our survey and on Bureau of the Census statistics, we estimate there are 19 million millionaires as defined by their personal liquid assets.