Connect with us

Headlines

Optimism Rules As Jewelers Enter Holiday Season

The overriding sentiment is one of optimism.

mm

Published

on

“AS EXPECTED” was how most of the jewelers in our first 2018 Holiday Season Mini Survey summed up the 10 days since Black Friday.

Given that most of those jewelers entered the season with high hopes it suggests the overriding sentiment remains one of optimism even if the sales action has yet to kick into a high gear.

Video: Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

Video: Gene the Jeweler Hired His Nephew … And at Least Insurance Covered the Damage
Gene the Jeweler

Video: Gene the Jeweler Hired His Nephew … And at Least Insurance Covered the Damage

“The mood has been positive and happy,” said Tonia Ulsh, manager of Mountz Jewelers in Camp Hill, PA, adding that while traffic at her store is down from last year, her average ticket at over $500 is up.

>Overall, 21 percent of the more than 120 jewelers who took the survey said the first two weeks of the holiday season had been “better than expected” while 6 percent said it had been “terrific.” Fifteen percent categorized it as disappointing and 5 percent said it had been flat out “dismal.”

“I thought that a longer holiday season would amount to a better period of time for selling, but since Thanksgiving was early this year I think it is making people blow off shopping for the holidays till later,” said Andrea Riso, owner of Talisman Collection in El Dorado Hills, CA. “(But) we’re down so far I’m starting to panic.”

Other jewelers were more sanguine, noting that one of the clearest trends of the last few years has been shoppers coming in later and later to do their jewelry buying.

Advertisement

“Around here Christmas buying used to start the day after Thanksgiving. Now the serious buying does not start until Dec. 20th,” said Ed Menk, owner of E. L. Menk Jewelers in Brainerd, MN. “The reason? Possibly credit cards allowing the men to hide their purchases from the ladies. Also, there are so many things to attract the consumer such as the never-ending electronics, high priced phones, etc.”

In Muscle Shoals, AL, Joan Charlene Little, of Genesis Jewelry, concurred, predicting the opening trends of the season pointed to a stressful last few days. “Customers are shopping. Snapping photos on their cell phones. The problem is they are going to push it to the last week when everyone will be shopping.”

When customers are reaching for their wallets, it is often for big-ticket items. Almost one in three of the responding jewelers listed diamonds when we asked what had been their best seller so far. Custom followed a close second.

“Average tickets are going up as is traffic. Pandora and Alex & Ani, in particular, are  slowing,” said Steve Floyd, owner of Floyd & Green, in Aiken, SC. “I love having more time to spend with my big spenders!”

Advertisement

VIDEO HIGHLIGHT

Wilkerson Testimonials

Texas Jeweler Knew He'd Get Only One Shot at a GOB Sale, So He Wanted to Make It Count

Most retailers only have one GOB sale in their lifetimes. This was the case for Gary Zoet, owner of Shannon Fine Jewelry in Houston, Texas. “Wilkerson has done thousands of these sales,” says Zoet. “I’ve never done one, so it’s logical to have somebody with experience do it.” The result exceeded Zoet’s expectations. Wilkerson took care of everything from marketing to paperwork. When it’s time for you to consider the same, shouldn’t you trust the experts in liquidation?

Promoted Headlines

Want more INSTORE? Subscribe to our newsletter.

Comment

Headlines

Americans Don’t Spend Anywhere Near 2 Months’ Salary on Engagement Rings, Survey Finds

They shell out 4 percent of annual pretax income, on average.

mm

Published

on

The typical American spends two weeks’ pay on an engagement ring, according to a new survey.

That equates to 4 percent of annual pretax income. The median spend in the poll, conducted by Morning Consult for The New York Times, was $1,900.

Video: Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

Video: Gene the Jeweler Hired His Nephew … And at Least Insurance Covered the Damage
Gene the Jeweler

Video: Gene the Jeweler Hired His Nephew … And at Least Insurance Covered the Damage

Of course, there were a few big spenders: 7 percent of respondents shelled out more than $10,000 for a ring. Prices were adjusted for inflation based on the year of purchase.

The online poll included 1,600 adults.

The results suggest that the “two months’ salary” popularized by industry marketing “is very much much an illusion,” the Times reports.

Amanda Gizzi, spokeswoman for Jewelers of America, told the newspaper: “That guideline has sort of been tossed out the window.

Advertisement

“It’s not anything anyone in the industry promotes today.”

Another recent survey found higher spending levels for engagement rings. Brides’ American Wedding Study found that the typical couple spent $7,829 in 2018.

Read more at The New York Times

Continue Reading

Headlines

Jewelry Store Robbed After Manager Tied Up in Home

The thieves made off with hundreds of thousands of dollars in goods.

mm

Published

on

Icebox Diamonds & Watches in Atlanta was burglarized after masked gunmen tied up a jeweler and his wife in their home, the Atlanta Journal-Constitution reports.

Cobb County police stated that on Friday, the culprits forced the couple into their home and took the store keys. The couple were not injured.

(The Journal-Constitution described one of the victims as the owner. Other news sources, including WXIA-TV, described him as the manager.)

Two men broke into the Buckhead store at about 11:30 p.m. and spent about two hours there, authorities said. They took jewelry and watches from safes.

The stolen goods were reportedly worth hundreds of thousands of dollars in total. Cash and jewelry were also stolen from the jeweler’s home, according to the Journal-Constitution.

Icebox Diamonds & Watches is known for its celebrity clientele, the newspaper notes.

Read more at the Atlanta Journal-Constitution

Continue Reading

Headlines

Singer Katy Perry Shows Off $5M Engagement Ring — Take a Look

It’s one of the most expensive celebrity engagement rings ever.

mm

Published

on

 

View this post on Instagram

 

full bloom

A post shared by KATY PERRY (@katyperry) on

Singer Katy Perry took to Instagram to show off the engagement ring she got from actor Orlando Bloom when he popped the question on Valentine’s Day.

E! News explains that “the flower-shaped sparkler appears to have a pink center stone with diamonds surrounding it, along with a gold band.” She captioned the photo “full bloom.”

Andrew Brown, president of WP Diamonds, told E! News that the ring is likely worth about $5 million.

He said it appears to feature “a 4-carat fancy vivid pink oval shaped diamond.” That stone is encircled by eight white diamonds.

Advertisement

The estimated price tag would put the ring among the most expensive ever worn by a celebrity.

Perhaps the most expensive celebrity engagement ring ever was the $10 million sparkler given to singer Mariah Carey in 2016 by Australian businessman James Packer. Their engagement was called off that same year.

Read more at E! News

Continue Reading

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.)

Latest Classifieds

Most Popular