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Will it be a Happy Holiday this Year?
Retail Rap
By Phyllis Schiller
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| Borgioni |
The 4Cs are not the only things that make a piece of diamond jewelry a sales winner. In an ongoing series, Rapaport Magazine explores the “3Ws” — what’s selling, what’s not and why — by going straight to the people who really know — jewelry retailers. Each month, we ask a sampling of retailers to comment on the important issues that are facing the industry today. Here is what they had to say when asked at the end of November: “What are your expectations for Christmas this year? Has the holiday shopping begun?”
“It’s very early for jewelers. We certainly had traffic Friday and Saturday of Thanksgiving weekend, which was relatively steady, but I can’t say a lot of those people were actually Christmas shopping. With jewelers, the money is with the men and the men don’t shop early — December 14 through December 24 are the primary days in terms of cash flow and incoming money. Black Friday tends to be a mall thing and that’s where the women are, doing their own shopping. After that, they will start thinking about presents for themselves and other family members. We just keep our fingers crossed until the middle of the month and hope for the best.”
“This year we had our annual ladies’ night a good bit earlier than usual, on the first of November. And it was probably our best one ever. It was all self-purchase, none of it holiday gifting, and it kicked off November well. We’re ahead of November 2011 significantly. We’re seeing increased traffic and we’re cautiously optimistic that it will be a good December. Last year was very scary because we didn’t make numbers until probably the last three days.
“We’ve stocked traditional items for the holiday; in times when people are not spending as much, they want those basics. But that being said, we have fashion items as well. Charles Krypell’s ‘I Love You Today Tomorrow Forever’ collection of bracelets, necklaces and rings has done very well. It’s an easy something for the guys to choose. Engagement ring averages have come down some but sales are strong and we are seeing occasional bigger self-purchase items. Otherwise, it’s not any particular ‘something’
that’s selling.”
“We did okay Thanksgiving weekend. We’re a neighborhood store. We’ve been here since 1898; our customers come back, their children and their grandchildren come back. November has been a very good month and a good diamond month. We’re very pleased, despite the threats from the internet and the malls with their specials of 60 percent or
70 percent off.
“It’s a long season this year because Thanksgiving is early, so that’s good. We’re positive. We’re selling diamond engagement rings and diamond earrings. Silver pieces
are still going out the door. In men’s jewelry, titanium and tungsten are 90 percent of sales; so despite gold going through the roof, it hasn’t impacted wedding band sales.”
“I hope to do 20 percent better this year than 2011. We laid all the seeds during the course of the year and hope it will grow. The way it’s going right now, diamonds will be big. The number of diamonds over a carat that we’ve sold has jumped up tremendously in the past two months. We had one man come in this past Saturday and buy a Forevermark diamond pendant, which was surprising — usually it’s the women who are out now.
“We had ladies’ night a couple of weeks ago and we take wish lists of three pieces — moderate priced, attainable and over the top. And the annual Holiday Stroll at the end of November brings in customers. In 2011, we had 1,500 people come through the store and we’re anticipating as many this year.”
“Right now, it’s still quiet, the calm before the storm, which is the norm. We’re on target and on pace with where we were last year. We’re happy with that; we’re actually up by about 13 percent overall.
“I’m finding that people are looking for things they understand have intrinsic and long-lasting value — diamond jewelry, fine timepieces — rather than things that are more trendy. The vibe has been positive. I do feel confident going into the season.”
“We’re a diamond store and we are expecting to sell nice diamond jewelry — engagement rings as well as earrings, pendants and rings. We did some newspaper inserts over the Thanksgiving weekend and those were fruitful. We have the extra week this year. In the past few years, Christmas has been closer to last minute.
“We’re up for the year. We’re hoping to maintain last year’s fourth quarter, which was our largest ever. We’re in an oil and gas economy here, and it’s going to depend on how well they’re paying those royalty checks whether we’ll have the larger sales. We are stocked to the hilt, with owned inventory, enough to have a record year. Our showcases are full.”
“We’re anticipating, hopefully, a steady holiday season. We have sent out our annual Christmas puzzle card, which is an enticement to come in with the enclosed puzzle piece to see if it fits the puzzle in the store to win one of three shopping sprees of $3,000, $2,000 and $1,000. The day after we mailed them out, we had two clients come in with their puzzle pieces, which is a good sign. Both of them were looking for something to purchase.
“We’re much more fashion and colored gemstone oriented, so that is something we’re looking to sell for holiday gifts, and larger single diamonds, larger center stones for an anniversary gift. We also have colored diamonds on hand and work with cognacs for our fashion pieces.
“We’ve asked customers to bring a friend who has never been to our store to an event here on December 11 and we’ve had a really nice response. So I think there is some excitement and people are looking to purchase.”
“Christmas has begun. We’re feeling the excitement; customers seem upbeat. We’re expecting a successful season. We’ve expanded our product offerings over the past several years, with an emphasis on bridal, but we’re also heavy into watches. It’s hard to say what’s getting more attention, but it’s all pretty good.
“The classic diamond jewelry, like studs, is selling. Color jewelry is doing really well, precious gems and colored diamonds as well as semiprecious stones; sapphire rings and garnet, citrine and amethyst are popular. We have our biggest inventory in our history, so we’re expecting to have a pretty good Christmas. ”Article from the Rapaport Magazine - December 2012. To subscribe click here.
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