Here in the states we’re entering the final week until Christmas and so far jewellery sales have been strong in all markets, according to a couple of surveys.
Two surveys of independent retail jewellers reported that business got off to the strong start for the 2012 holiday season and chugged along nicely since then. As the final week approaches, retailers expect a final surge of business, including the sale of some big ticket items.
The “Centurion Holiday Sales Success Index” of independent prestige jewellery stores reports that for the first two weeks of the holiday season, nearly two-thirds of respondents are ahead of last year in sales. Almost 30 percent of respondents reported their total holiday sales are up to December 9 is 10 percent ahead of last year during the same period. The same number of respondents said that sales are up between 5 percent and 10 percent for the season thus far.
Meanwhile, National Jeweler, a jewellery industry publication that does weekly phone surveys of independent jewellers around the country, reports solid sales throughout the season. Finishing its fourth week of surveys, most jewellers during each week reported that sales are better than last year. Diamond bridal and fashion sales are doing extremely well compared to last year. Popular items include large engagement rings and big tennis bracelets and earrings.
In addition, sales of silver jewellery, from $100 to $1,500, from well-known designers as well as generic pieces are doing at least as well as last year, according to the publication. That’s because the high price of gold.
Overall, retail sales in the U.S. also got off to a strong start, according the National Retail Federation. The retail trade association reported that November retail sales (excluding automobiles, gas stations and restaurants) increased 0.8 percent seasonally adjusted from October and increased 4.4 percent unadjusted year-over-year. The NRF said it is expecting holiday sales to grow 4.1 percent over last holiday season.
November retail sales released by the U.S. Department of Commerce showed total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants) increased 0.3 percent seasonally adjusted month-to-month and 3.7 percent unadjusted year-over-year.
Superstorm Sandy definitely impacted retail sales in November, NRF said. Many retailers reported losses after forced store closures due to the storm, while others, like home and building supply stores, witnessed spikes in sales due to recovery and rebuilding efforts.
However, MasterCard Advisors SpendingPulse, a subsidiary of the credit card company that tracks the sales activity based on MasterCard payments, reports that Sandy has had a serious impact on holiday sales. In addition, after a three-week recovery of retail spending growth that started two weeks after the storm, a slowdown occurred in the week ending December 8.
The organization said that there’s a strong chance that late season sales will make up this deficit, adding that these late sales are even more pronounced in the jewellery and luxury retail segments.
