Buzz Session

Jewelers Describe Their 2022 Holiday Selling Season

Results were mixed, with some saying traffic was up but average ticket down, while others said just the opposite, and some did very well.

Published

1 year ago

February 3, 2023

INSTORE Staff Instore February 2023 Issue Online Extra

question:

What stood out about the 2022 holiday selling season?

We moved to a smaller location after 28 years and didn’t have as much traffic but sold almost everyone that came in!! Not as much stress as in years past. It was great! — Frank S., Plantation, FL
Men shopped earlier this year. More people out than the last few years. — Susan K., Lewisburg, PA
General slowdown starting in the middle of October and continuing through December after large increases earlier in the year. — Willa D., Iowa City, IA
Our average item was $800 with a 40 percent add-on rate. BUT, we missed last year’s sales by 10 percent (We lost all our gains we had amassed throughout the rest of 2022 in December.) First sales decrease in eight years. — Bill L., McCook, NE
People could not make a decision; men were hemming and hawing over their purchases and definitely not spending like they did the past two years. — Laura K., Oak Park, IL
Customer count up but less dollars spent per customer. — Alan and Renee B., Naples, FL
Less traffic. Average ticket was up but sales over $10K were a fraction of last year. — Joel W., Broken Arrow, OK
High-end gold (paperclip, etc.) saw a 200% increase over last year. Using Podium has been really good for increasing sales in December. — Rick W., South Jordan, UT
Overall not as good as 2021 with the last three days disappointing. But then, we did have the big freeze weather. — John C., Uniontown, PA
People purchasing men’s jewelry for gifts this year increased. — Rebecca L., Ketchum, ID
Up a little over previous years. I had the most online sales I’ve ever had, with a single-day high of 39 open orders. (The previous was 22 orders, set last December.) With a guaranteed turnaround time of 3-5 business days, I was kept pretty busy making all those orders, while simultaneously taking care of my usual in-store customers! It was delightful for a while, but I don’t think I could sustain that level of “busy” on an ongoing basis. — Janne E., Cocoa, FL
The weather and snow and snow and snow. Lost our last week before Christmas due to — you guessed it! SNOW. — Loann S., Stillwater, MN
It was another good selling season this year. We had a few contemporary pearl pieces from Imperial Pearl that were well received by customers and sold quickly. — Kathy B., Valley Road, NJ
It was very good. 2021 was the record year, and we came within about $3K of beating it, but we had some serious snowstorms right before Christmas — several stores on Main Street just closed. We were open, but business was very, very slow. I got a lot of end-of-year paperwork done. 🙂 — Cliff Y., Lowell, MI
It was like any other month. In 2021, we had a down year and an incredible holiday season. 2022 was a great year and a dead holiday season. It is what it is. We gave up putting all of our eggs in the holiday basket when the internet took over the world. — Jo G., Oconomowoc, WI
Fewer tickets, but those that bought spent more money. Surprisingly studs and hoops, a typical staple for us, did not sell nearly as well as expected. — Dorothy R., Chicago, IL
Less traffic in-store. More online sales. There seemed to be more disparity in what customers were looking to spend — bigger budgets and smaller budgets, with an absence of the middle-ground. — Jennifer Hornik J., Bozeman, MT
We did okay in the store and in our lower-priced online platforms, but sales of our better pieces on our high-end platform were absolutely abysmal — worst we’ve had since we started selling on this platform. Meanwhile, sales of our lowest end stuff (silver!) have been through the roof, so it’s hard to look at that and not think “it’s the economy, stupid!” — Gretchen S., Sherman Oaks, CA
It definitely didn’t feel like a normal holiday season. It was pretty steady the whole month but no big rushes on the last two to three days like usual. — Becky B., Peabody, MA
Two items stood out: how poor traffic was and how many misinformed guys came and purchased lab-grown diamonds with incorrect beliefs and made the engagement ring a pure price proposition for size over substance by using a lab-grown diamond center. — David B., Calgary, AB
Didn’t get many engagement rings this year. Lab-grown jewelry sold better than I expected. — Gregory F., Washington, NJ

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Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”