WITH JUST OVER a week to go until Christmas, the 2024 holiday season is shaping up as a memorable one for independent jewelers across North America on the back of robust consumer sentiment and strong sales of lab-grown diamonds as well as traditional staples like diamond stud earrings.
“People are spending. Whether it’s in anticipation of better times to come or spending it now before the end of the world I can’t tell — seems to be about 50/50,” noted Dan Neff of Neff Jewelers in Saint Augustine, FL.
Added Alan Perry, owner of Perry’s Emporium in Wilmington, NC: “Trump Bump! Folks here are more happy and are spending more than last year! We are up 34%!”
More than half the jewelers who responded to INSTORE’s second holiday season mini survey described their holiday sales performance to date as “good” or “excellent”, while 19% said they were “average”. Thirty percent described their sales as “soft” or “dismal”.
The results suggested the sales growth was being driven by higher ticket items with 41% of the respondents reporting a stronger average sale compared to the 2023 season while only 23% of jewelers reported an increase in foot traffic. The top two ranges for average sale were in the lower “$250-$500” gift segment and at the very top end — “More than $1500”.
The solid sales at many stores were being led by lab-grown diamond jewelry – both fashion and bridal – as well as more traditional Christmas performers like earrings, pearls and watches.
“Tennis” jewelry also received numerous mentions, not always with enthusiasm:
“Lab diamond tennis bracelets and tennis necklaces. Yawn,” offered Gretchen Schaffner of Eytan’s Designs in Sherman Oaks, CA, when asked what was selling well.
With the most important week of the year still ahead of them, even those jewelers who reported soft sales to date remained mostly optimistic and reported they were working hard calling customers and leveraging wish lists.
“There’s still one more week and one more full weekend. Hope springs eternal for the last-minute shopper in this shortened season,” said Ellie Thompson, owner of Ellie Thompson + Co in Chicago, IL.
Responses to the second 2024 Holiday Season survey were collected on Dec 16. A total of 79 jewelry store owners or managers from across the country responded to the online survey.
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