With two weeks to go until Christmas, the outlook for the 2025 holiday season has softened with fewer jewelers upbeat about their prospects, according to the INSTORE Holiday Season Mini Survey #3.
That is not to say sales are weak – just not a great. Forty-eight percent of the jewelers told our survey they were posting “excellent” or “solid” sales. That’s down from 61% just after the Black weekend. Interestingly, the share of jewelers reporting “soft” or “terrible” sales didn’t change, we just have more jewelers saying this year is shaping up as rather average. Or as Gretchen Schaffner of Eytan’s Designs in Sherman Oaks, CA, summed it up: “Ho ho hum”.
The forces at play appear to be those that have buffeted the jewelry trade all year – economic and political uncertainty and rising metals prices.
Kennon Young of Starlust Jewelry in Burlington, VT, said he was seeing a lot of pricing resistance from buyers. “Many seem cautious to spend money. High precious metal pricing has pushed a lot of folks out of purchasing. Sticker shock is abundant.”
Added Tom Nelson, owner of Nelson Jewelry in Spencer, IA: “People are spending, however less cash than the last couple years, more credit card. Tells me they want to spend but don’t have the freed-up funds as much so I’m cautious as to what happens next year.”
Forty percent of the survey-takers said their average ticket was up, with more than one in four (28%) reporting an average ticket over $1,500. “The larger purchaser has been the rule thus far,” said Stew Brandt, owner of H.Brandt Jewelers in Natick, MA. “Not sure we’ll see the mid- to lower-end crowd this year unless they find themselves with a little extra after they’re done with the have-toos.”
To be sure, we have yet to reach the true business end of the season, and many jewelers remain hopeful, with several respondents noting male buyers don’t start to arrive in force until Dec. 15.
As for the segments selling well, lab-grown diamonds continue to perform strongly, especially for studs, engagement rings, and larger carat weights. “Always diamond studs. This year lab,” noted Cindy Stafford of Wades Jewelers in Southport, NC.
Custom & personalized jewelry, including those featuring specific gemstones or unique motifs were also a major draw at some stores while demand for colored gemstones, both in custom pieces and pre-set rings and pendants, was also notable.
Responses to the third 2025 Holiday Season survey were collected on Dec 10. A total of 58 jewelry store owners or managers from across North America responded to the online survey. If you’d like to become a member of the Brain Squad, and get access to all the respondent data, please sign up HERE.
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