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Jewelers’ Holiday Sales Just Get Better And Better December 22, 2021 (0 comments)


Merrick, NY—More than three fourths (77%) of respondents to The Centurion Holiday Sales Success Index, a spot-check survey of better jewelers’ holiday business, reported their sales for the third week of the holiday season (December 13 through 19) are up more than 10% over the same period last year. And last year, of course, was a record-smashing holiday in itself.

Respondents are seeing sales gains well above 10%: one respondent said sales are up 63% year-on-year just in one week. That jeweler is not an outlier, either: Mastercard data shows jewelry sales have risen dramatically in the past two years, and is the single biggest category sales gain. Even during July and August, not traditionally a high-water mark for jewelry sales, stores were seeing increases of 83% and 74%, respectively, year-on-year.

Shoppers are feeling flush. Analyzing the data from this week’s Centurion survey, 50% of jewelers reported fewer but higher sales this season, leading to a revenue gain overall. This could mean that shoppers on tight budgets are foregoing jewelry. Only 8% said they’re making more sales but with lower tickets than last year.

Foot traffic is up from last year, but jewelers are working it to get there. 42% said their salespeople are doing a lot more selling by phone, text, and email than last year and preceding years, and one-third (33%) clearly see a lot more pre-shopping being done online before the customer completes the sale in person or by phone. The personal touch still matters: only 8% of respondents said they’re seeing more of those sales completing online.

   Better Jewelers' Sales For December 13 Through 19 Compared To Last Year

Finally, we asked respondents how the supply chain issues in the news are impacting them. Overall, it hasn’t been too bad for jewelers. One third of respondents have had no problems with supply at all. Roughly one third each said their biggest challenges were getting the watches they need (not unusual even without supply chain issues), and getting non-jewelry support items such as packaging and display materials. About one-quarter reported problems getting finished jewelry and findings, and a small percentage had trouble getting colored stones, pearls, and getting back customized pieces from vendors in a timely fashion. (Respondents were asked to check all that apply; totals are greater than 100%).

The final survey of the season will be conducted early next week. Retailers, please be sure to check your Monday and Tuesday editions of The Centurion Newsletter for the link, and please participate so that we can get as accurate a picture as possible of the season for better jewelers. Thank you and have a wonderful holiday!

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