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Better Jewelers Enjoy Strong Valentine’s Day Sales | February 16, 2022 (0 comments)
Merrick, NY—A quick spot-check of better jewelers this week shows consumers are still eagerly spending on fine jewelry.
100% of respondents to The Centurion’s survey reported sharp sales increases for the holiday. An overwhelming 83% of respondents said their Valentine’s Day business is up more than 10% this year, the most ever in The Centurion’s history of Valentine surveys. The remaining 17% reported their Valentine business rose between 6% and 10%.
When asked how the holiday fared compared to their expectations, again, 83% said their results were “somewhat” or “much” better than expected. Only 17% said sales were somewhat lower than expectations.
Still, while Valentine’s Day is a high foot traffic holiday—all respondents said the majority of sales were made in-store, vs. online—it’s typically a lower-ticket holiday. 50% of respondents said most of their Valentine’s Day sales fell between $500 and $1,500, compared to Christmas, where the most popular price point was between $2,501 and $5,000.
What Was Your Best-Selling Price Point For Valentine's Day 2022?
Not surprisingly, diamonds rule: diamond earrings and other diamond fashion jewelry were the best-selling pieces among respondents—and despite news-making engagements like Simone Biles and Jonathan Owens, Valentine’s Day is not a popular time to get engaged, if our respondents’ sales of engagement rings are any indication.
What Were Your Bestselling Product Categories For Valentine's Day? Check all that apply.
Finally, jewelers are relying on digital marketing for Valentine’s Day sales. An overwhelming majority credited either social media or email for their most effective tools. Here's a look at the rankings of marketing tool effectiveness:
What Were Your Most Effective Tools For Valentine's Day Marketing? Check all that apply.
