Silver Dominates Holiday Jewelry Sales
Posted by Luis Marini on Wed, Dec 21, 2011 @ 08:48 AM
At the beginning of the fourth quarter, experts predicted that this year’s holiday spending would not be negatively impacted by lingering consumer apprehension about the economy. While we shouldn’t expect any sales records, the 2011 holiday season is not expected to see a decrease in spending.
Jewelry sales are predicted to exceed 2010 levels. In fact, according to Internet Retailer, brick-and-mortar jewelry stores are expected to see close to a 5 percent increase in sales in Q4 2011 over Q4 2010. Further, a survey from IBISWorld shows that the jewelry industry as a whole could see up to a 7 percent increase in sales, for an industry-wide total of $4.7 billion.
Black Friday Kicks Off Holiday Season Strong
Historically, “Black Friday,” or the day after Thanksgiving, has been the official kickoff of holiday shopping. And, this year was no different. Jewelers across the country reported extremely healthy sales for November 25, signifying what could be a strong holiday season. Very few store owners experienced weak sales.
Silver: The Holiday Metal of Choice
So, what is on the wish lists of jewelry lovers this year? Despite what the initial sales feedback might suggest, buyers have been in the market for jewelry at lower price points, specifically sterling silver. Given the high price of gold this year, silver has proven to be a viable option for buyers who wish to purchase a high-quality, yet less expensive, jewelry item.
However, some retailers are reporting that gold, diamond and bridal jewelry at much higher price points are still selling well. These retailers are hoping for a strong finish to the holiday season.
Consumers Expected to Shop on December 26
With the final days before the Christmas holiday upon us, jewelers can look forward to the day after Christmas, which is expected to draw large crowds for returns and post-holiday deals. The last time December 26 fell on a Monday was 2005, which resulted in strong sales for retailers, simply because of the day of the week.
What will be the outcome of the 2011 holiday season for jewelry retailers? With overall higher prices of precious metals, and consumers in the holiday spirit, it might end up being a blockbuster year for jewelers.
Will you be giving a loved one a holiday gift containing precious metals this year? Tell us what’s on your shopping list by leaving a comment below.
Happy holidays from Metallix Direct Gold!
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