Mom Rocks For Luxury Jewelers; Mother’s Day Sales Jump Significantly Over 2015May 11, 2016 (0 comments)
By Hedda Schupak, Editor, The Centurion
Merrick, NY—An overwhelming majority of jewelers who responded to the Centurion spot-check survey of Mother’s Day sales said their sales were up more than 10% over last year’s figures. 39% of respondents saw increases of 10% or more, while overall, 62% of respondents saw increases of some measure.
After a mixed report for holiday sales last year—and coupled with findings that even jewelers whose holiday sales were down still reported an up year in 2015—the 2016 Mother’s Day figures underscore the hypothesis that jewelry is becoming more of a year-round purchase and less dependent on the December holiday season. Indeed, more jewelers reported strong Mother’s Day sales this year than last—39% compared with 26% who reported double-digit increases, and 62% compared with 40% who reported increases of any measure.
Mother's Day 2016 Sales Vs. 2015:
Best-sellers spanned the price spectrum from affordable brands like Pandora and Alex & Ani to Rolex, diamonds, and high-end designers like Elizabeth Locke. More than half of all respondents said their average ticket was higher this year than for Mother’s Day 2015, and 35% said it was about the same. Only 10% saw a drop in the average spend. Some top-selling luxury brands in addition to Elizabeth Locke were Vahan, Roberto Coin and David Yurman.
Mother’s Day also is a strong holiday for fashion. Gold, colored stone jewelry, earrings, sterling silver, and pearls were also named as standouts for the holiday.
Best selling price points typically are lower for Mother’s Day than for holiday or other significant occasions, and this year was no different. 50% of respondents said their best-selling price points for Mother’s Day are under $500—but 35% said it was over $1,000. 10% said the majority of their sales were in the $500-$1,000 range.
What are jewelers competing with for Mother’s Day? Here were the top categories cited by respondents:
- Flowers (52% of respondents citing)
- Fine dining and/or chocolate (55%)
- Home; i.e. furniture or major remodeling (10%)
- Clothing, cosmetics, designer handbags (20%)
- Travel or other experience (20%)