The popularity of products from Apple Inc. could hurt jewelers this holiday season, according to some analytsts.
Apple recently rolled out three new smartphones and a new Apple Watch, and those items could supplant jewelry on many holiday wishlists, MarketWatch reports.
Jaime Ward of Citizens Bank’s retail finance group was quoted saying: “By charging more for these essential tech products, it’s taking share of wallet from other discretionary items. Jewelry will unfortunately be hurt by that.”
That’s despite the fact that holiday retail sales overall are expected to climb by 5 percent to 5.6 percent versus last year, according to Deloitte.
The new Apple Watch in particular is expected to hurt traditional watch sales.
But executives at Signet Jewelers Ltd. say jewelry has unique appeal as a gift because it is “timeless and appropriate for so many occasions.”
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“We are confident that consumers will find jewelry as the perfect gift to celebrate life and express love for family and friends this holiday season,” the company told MarketWatch in a statement.
Read more at MarketWatch
Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
