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Editorial: Does Black Friday Matter To Luxury Jewelers? |  November 13, 2013 (0 comments)


Merrick, NY—As more and more retailers (Kmart, Macy’s, Kohl’s, JC Penney) announce plans to open Thanksgiving night, Black Friday has officially encroached on Thanksgiving, especially this year when its late date chops almost a week off the holiday shopping season.

The irony is not lost on social media, where a recent humorous e-card hailed Black Friday as the day when millions of Americans trample each other to get deals less than 24 hours after vowing to be thankful for what they have. There’s also the new debate about what it means for the store employees who will have to work that day: is it greed taking them away from their families, or is it giving them a welcome opportunity to make some much-needed extra cash? Without making a moral judgment, I personally hope the stores that are open can find a middle ground where those who don’t want to give up family time are allowed to opt out of working on Thanksgiving, and that those who want the extra cash are in fact being paid extra to work on the holiday.

This humorous look at Black Friday has made the rounds on social media. Image:

But does any of this even matter to luxury jewelers? I daresay most won’t be open Thanksgiving, at least in brick-and-mortar. And Black Friday, with its screaming discounts and door-buster specials, is not exactly the image a prestige jeweler wants to promote, nor is costly jewelry something most people really want to buy at 6 a.m., bleary-eyed with too much turkey and not enough sleep. But last year’s Centurion Holiday Sales Success Index for the first week of the 2012 holiday season—including Black Friday—was a very strong one for luxury jewelers even if they didn’t open in the predawn hours.

And an interesting article in Luxury Daily points out that luxury businesses can, in fact, gain value from Thanksgiving. Note the distinction: Thanksgiving, not Black Friday.

Since luxury jewelers typically are philanthropically active in their communities, they can amp up those efforts on a holiday that’s all about being thankful for what you have and helping those who have not. Or simply just celebrating an American holiday—something we often forget. Just like July 4, Thanksgiving is a national holiday that spans all religions and cultures.

So how can a jeweler gain value from Thanksgiving? Here are some ideas:

Being able to slow down and enjoy the moment is the ultimate luxury in a hectic world. You’re in the game, but in a way that helps you stand out from the crowd better than anyone else.

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