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Expect No Big Holiday Offers On Jewelry This Season: Industry Adviser September 26, 2022 (0 comments)
New York, NY--With holiday seasons come expectations of big sale offers, but things might be different for the jewelry industry this year.
[Photo by Godisable Jacob via Pexels]
A report by MasterCard's SpendingPulse highlights that jewelry sales surged 32% in 2021 and 26.2% in 2020, and considering it is in "good shape" heading to the holiday season, there'd be little that retailers would be doing to introduce discounts.
Marshal Cohen, the chief retail industry adviser with NPD Group, told CNN that he expects consumers to think of the bling as a good investment gift.
"With no real overstock position, [jewelry] retailers are not anxious," he revealed in the report, adding that they do not need to work on organizing any big sales.
Signet Jewelers is foreseeing a rise in demand as well.
"This is reflected in the fastest jewelry growth being luxury-price tiers, followed by accessible luxury," Signet CEO Gina Drosos said earlier this month, according to the report. The company noted that it has a "healthy level" of inventory heading into the holiday season.
Read more in the news report.