Articles and News

Merrick, NY—After a stellar start to the 2014 holiday season, sales have hit a snag for some luxury jewelers. For the first time this year, a greater percentage of respondents to the Centurion Holiday Sales Success Index say their sales for the week of December 15-21 declined from the same period last year, and of those, one-third of all respondents saw significant declines of 10% or more over last year’s figures for the week.

In total, 42.8% of respondents said sales grew last week over the same time last year, but 47.61% said sales dropped over the same period in 2013. The good news is that among those who posted gains, the greatest percentage (28.6%) said the gains were at least 10% or more. Overall, those who are shopping are spending: a number of respondents said bigger ticket sales are driving their gains. “Big diamond sales!!!! Diamonds, diamonds, diamonds,” wrote one. “More large sales, less people looking for inexpensive and silver. mostly $1,500 and up with many over $10,000,” said another.

For some, the diamond sales are for big engagement rings, while others said big diamonds were either self-purchase or anniversary gifts, and others cited diamond studs and just “big pieces in general.”

As for the early birds vs. latecomers, that trend too was mixed. Several respondents said sales came earlier this year and tapered off—or started strong, dipped, and resumed—while others said it was the usual last-minute latecomers. And some are still waiting. “No traffic at all,” one respondent said in frustration.

The next Centurion Holiday Sales Success Survey will assess total results for the season.

Top image: Beneathmagentaskies.com