Twenty-year jewelry industry veteran B.J. Nichols may have found the key to appealing to the Millennial generation (the sons and daughters of the baby boomers). In June 2005, Nichols opened Preston’s Rocks in Fishers, Ind., a diamonds-only store that targets Millennials, also known as echo boomers.

Nichols employs a three-part strategy. First, to ensure a casual atmosphere, the store’s sales staff does not work on commission. Second, the store features modern and hip technological elements, such as plasma televisions playing ESPN and CNN and an Internet café, which are familiar to Millennials. Finally, all merchandise prices are clearly marked, something that Millennials appreciate.