Connect with us

Headlines

Jewelry Market Could Suffer Because of Apple Products, Analysts Say

The Apple Watch in particular could have an impact.

mm

Published

on

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.” 

Advertisement

“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

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Facebook

Latest Comments

Most Popular