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Know It All: December 2010

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1 “Americans aren’t ready to declare the recession over” is the National Retail Federation’s prediction for this year’s holidays. But its survey found nearly all consumers want to buy and receive more “fun” gifts this year, and one in three women want jewelry, up from last year. Source: NRF, 10/20/10
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2 Based on the latest data, the U.S. jewelry market appears poised to generate sales close to $63 billion this year. That would be a record, edging 2007, when jewelry and watch sales reached $62 billion. Source: Idex, 11/09/10
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3 First, there was Black Friday, then came Cyber Monday. Now there’s “Small Business Saturday,” which is designed to get consumers shopping at their locally owned, independent businesses on the weekend after Thanksgiving. The national campaign got its first big launch in New York in early November. Source: Craines New York, 11/08/10
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4 The latest generation wants their wedding experience memorable but above all personal. About two-thirds of couples now want personal, or signature, elements in their wedding rings. Source: New York Times, 11/01/10
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5 Move over yuppies, baby boomers and Gen Y, retailers have a new favorite demographic: women aged 40 to 55. They are loyal, big spending and still have jobs. Source: Cincinnati Enquirer, 11/1/10
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6 Black Friday seemed like a rigid concept — the Friday after Thanksgiving. But it arrived ahead of Halloween this year as retailers, including Walmart, Sears and Amazon, pushed their promotions forward in a bid to snag shoppers’ money before it was all gone. Source: New York Times, 11/28/10
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7 And now, a word about our sponsors. A very brief word. They are getting more succinct, especially on TV. More than one-third of national commercials are now no longer than 15 seconds. Research shows the ads hold on to more eyeballs than longer formats. Source: Associated Press, 10/30/2010
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8 A number of jewelry retailers were listing special savings for shoppers at coupons.com to promote their brands ahead of the Christmas season. Among the companies ice.com, diamond.com, Zales, Ultra Diamonds and Szul. Source: Rapaport, 11/08/10
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9 Making jewelry in your store? Play it up as locally made. Three in five Americans say they are more likely to purchase something when an ad promotes it as “Made in America,” according to the results of a new poll. Source: Adweek, November
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10 Flash sales such as Neiman Marcus’s recent Midday Dash are being touted as a retailing staple of the future, as they combine entertainment, e-mail blasts, discounts and brand power to whip up customer excitement. Source: jewelrybusinessguru.typepad.com

[span class=note]This story is from the December 2010 edition of INSTORE[/span]

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