Merrick, NY—After a mixed start, the 2019 holiday season picked up nicely for better jewelers, and responses to our third week survey show it’s shaping up to be solid. 68% of respondents to our third-week survey said sales for the period are up over last year, and almost one-third of all respondents (32%) are reporting significant sales gains of more than 10% over the same period last year. Another 23% are reporting modest gains between 1% and 5%, and 14% said sales are up respectably, between 6% and 10%. Image at left: One jeweler's most successful holiday marketing idea this year is giving customers a chance to win a Jeep Gladiator.
18% of respondents, however, said this year’s third-week sales are down quite a bit (>10%) over the same week last year. And a small percentage (4.5% each) reported sales even or off slightly for the period.
How Were Sales For The Third Full Week Of The Holiday Season, December 16-22, Vs. Last Year?
Jewelers’ most successful marketing strategies were quite varied this year. The biggest winner was direct mail, with almost one-fourth of respondents saying that’s what worked best for them. Social media came in second, with 20% of jewelers attributing their sales success to their social media efforts. 14% each cited digital advertising (other than social media) and good old-fashioned calling up customers—but when “[customer] reviews” (specifically, with Podium) are added into the digital mix, that total rises to 25%.
30% of respondents attributed their sales numbers to trunk shows, special product promotions, or other special pricing or unusual promotions. One jeweler is running a sweepstakes to win a Jeep Gladiator, plus free jewelry purchases if it snows more than two inches on Christmas Day. Another kicked off trunk shows early, in October and November, but offered customers the opportunity to lay away their selections until December. Interest-free financing is working for a few and, finally, a few brought in special tempting product buys in diamond and fashion.
Retailers, check your inbox next week for our final holiday survey, which will take in the full season plus business totals for the whole year, and see what jewelers have planned for the year ahead. Your participation is greatly appreciated!