5 observations about the US jewelry market
The need for generic diamond marketing and the declining importance of November-December are just two of the points explored in a new report on the state of the U.S. jewelry market.
Survey lends insight into tax time
The average small business owner spends 40 hours and as much as $5,000 each year doing their taxes, a pre-April 15 survey just released by the National Small Business Association shows.
Help is wanted, but it’s hard to find
The number of small business owners who can’t find qualified people to fill open positions has reached its highest level since before the recession, a survey by the National Federation of Independent Business shows.
Desire to save tax refunds hits 12-year high
Nearly half of all Americans who expect to receive a tax refund this year will put that money into savings instead of spending it, the National Retail Federation said.
Valentine’s Day sales as unpredictable as love
While reports from across the country indicate that Valentine’s Day sales were uneven for jewelers, those consumers who were buying went for lower price points, classic diamond pieces and skinny bracelets for stacking.
1 in 5 to buy jewelry this Valentine’s Day
More than 20 percent of shoppers plan on purchasing jewelry this Valentine’s Day, spending a total of $4.8 billion on the category, the National Retail Federation said.
Survey: Holiday return fraud may cost retailers $3.8B
The retail industry as a whole will lose an estimated $10.9 billion to return fraud this year, with more than a third of that occurring during the holiday season, according to the National Retail Federation’s 2014 Return Fraud Survey.
8 keys to being competitive this holiday season
PricewaterhouseCoopers U.S. said it expects holiday spending to decrease by 7 percent this year but offered retailers a number of strategies to drive sales and remain competitive this November and December.
Biz owners feeling more satisfied but less successful
U.S. small business owners are more satisfied today with their role as entrepreneur than they were at the end of the recession but also are less likely to see themselves as successful, a recent Wells Fargo/Gallup survey shows.
1 in 4 affluents to buy jewelry this holiday season
Twenty-seven percent of wealthy shoppers said they plan to buy jewelry this holiday season, with most indicating that they would spend the same amount or more on gifts this year, a recent study shows.
In age of experiential spending, jewelry holds its own
Retail spending was up again in the month of July as the economy continues to slowly climb out of the recession and consumers spend on experiences and fine jewelry, which is seen as an investment because of its permanence, over gone-tomorrow material goods, according to MasterCard.
NRF lowers 2014 sales growth forecast
After a harsh winter that hampered retail sales, the National Retail Federation has revised its retail sales forecast downward for the full year 2014, though it does expect sales to pick up in the second half of the year.
Millennials desire authenticity, are cause-oriented
The generation dubbed the Millennials want honesty in a brand, care about philanthropy, search for deals and constantly are connected via their smartphones. Find out what else Nielsen observed about the generation in a recent study.
NRF: Father’s Day spending to top $12.5 billion
Though it remains a smaller gift-giving holiday than Christmas and Mother’s Day, consumers will continue to spend for Father’s Day this year, opting to splurge more on experiences than material objects.
Silver strong in 2013, SPS survey shows
A total of 73 percent of retailers reported an increase in sterling silver sales last year, and another 50 percent said the best selling opportunity with the metal is among female self-purchasers, the Silver Promotion Service’s annual Silver Jewelry Buying Trends survey shows.
Jewelry ranks as top luxury item among wealthy
Jewelry is the most widely collected luxury item in the world among the wealthy, although in North America it ranks third behind art and watches, according to The Wealth Report 2014.
More consumers to save tax refunds, not spend
Nearly half of consumers recently surveyed said they will be saving their tax refund money this year rather than spending it, according to the National Retail Federation.
44 percent of consumers would buy ‘smart’ jewelry
The latest study from the Jewelry Consumer Opinion Council shows that consumer interest in so-called wearable technology, smartwatches and bracelets designed to make everyday life easier, is growing.
Bad weather brings mixed results for Valentine’s Day
The relentless snow and frigid temperatures that have plagued most of the country this winter didn’t put a damper on Valentine’s Day sales for some jewelers, while others reported that inclement weather kept shoppers at home. National Jeweler gives an overview of the holiday’s sales by region.
Retail sales growth expected to top 2013
With the economy anticipated to grow at its fastest rate in three years and unemployment dropping, the National Retail Federation predicts retail will be in a “relatively good place” in 2014.
For Feb. 14, consumers will continue to be cautious
The National Retail Federation predicts that Americans’ post-recession frugality will continue through Valentine’s Day, with slightly fewer consumers expected to purchase jewelry for the holiday.
How were your sales in 2013?
National Jeweler is calling for retailer participation
in its annual post-holiday sales survey, which helps to gauge the health
and performance of the jewelry industry.
As forecast, holiday sales up 4 percent
Holiday retail sales for November and December were up nearly 4 percent this year, keeping with the National Retail Federation’s prediction for the season.
Holiday sales up, but foot traffic falls in 2013
Despite a shorter shopping season and bad weather across the country in the time leading up to Christmas, retail sales were up year-over-year this holiday season, according to data released Wednesday by ShopperTrak.
Online holiday sales climb but miss mark
Retail e-commerce spending from desktop computers hit $46.5 billion in November and December, increasing 10 percent over last year but falling short of the $48 billion forecast, according to data released Tuesday by digital metrics firm comScore.
Daily spending in Dec. highest since 2008
Gallup Daily Tracking found that Americans spent $96 a day in December,
the highest monthly average since September 2008 and the highest average for
any December in the six years the company has tracked daily spending.
Consumer confidence climbs at year’s end
While U.S. consumer confidence is improving, Gallup’s Economic Confidence Index still ended the year in negative territory, and Gallup said the federal government will need to learn to work together to boost it into the positive.
For jewelers, it’s Facebook or nothing
National Jeweler’s final holiday poll showed that while many jewelers found Facebook to be an effective marketing tool this holiday season, there are still a percentage of retailers who aren’t engaged in social media at all.
Overall, jewelers report a solid holiday
Most retailers reported that the 2013 holiday season ended with sales up slightly or on par with last year, though a few noted that the average price point plummeted.
Jewelry among top performers this holiday season
Despite a shorter shopping period and severe weather, early numbers indicate that holiday sales increased year-over-year, with jewelry cited as one of the season’s best-selling categories.
For many jewelers, Saturday was super indeed
For a number of jewelers, this past Saturday lived up to its billing, perhaps due to pent-up demand and an economy that is recovering, albeit slowly. Retailers told National Jeweler that diamond basics continued to fare well this holiday season, and a few also noted strong sales of colored gemstone pieces.
Weather brings drop in sales, foot traffic
ShopperTrak, a firm that has devices installed in stores across the country to count the number of people coming in, said that both retail sales and foot traffic were down last week due in large part to the weekend snowstorm.
NRF: Consumers to shop right up to Christmas Eve
Around 10 percent of consumers who haven’t yet wrapped up their holiday shopping will wait until Christmas Eve to finish, news that is no surprise to jewelers who are used to being busy until closing time on Dec. 24.
Retailers hopeful for a strong finish
In this short holiday season that’s quickly drawing to a close, retailers say that diamond sales remain strong, silver is doing well and Rolex watches are hot. Read on to see how sales at your store compare.
NRF: November sales up 4 percent year-over-year
Despite the fact that the holiday shopping season is shorter and retailers were offering big promotions, consumers spending increased only slightly in the month of November, National Retail Federation data shows.
Consumer spending slows after holiday weekend
Shoppers took a bit of a break after the Black Friday weekend, as sales and traffic at brick-and-mortar stores were both down last week, according to data released by ShopperTrak.
Weekend storm slows sales for some
The winter storm dubbed Dion has been making its way across the country since late last week, dumping a mix of snow and ice on a number of states and interfering with any shopping that wasn’t taking place online.
In-store traffic down 4 percent over the weekend
ShopperTrak, a firm that has devices installed in stores to count the number of people coming in, said retail foot traffic declined 4 percent year-over-year this past weekend, a drop-off attributable to the Internet.
NRF: Slightly more people hit stores, spend less
The total number of unique shoppers over the holiday weekend--counting Black Friday, Saturday and Sunday as well as Thanksgiving Day--was up 1 percent year-over-year while the average spend per shopper fell 4 percent, National Retail Federation (NRF) data shows.
Fewer expected to shop on Black Friday weekend
Even though a late Thanksgiving means a shorter period for holiday shopping in 2013, fewer consumers indicated that they will shop during Black Friday weekend this year, a National Retail Federation (NRF) survey shows.
Survey: 38 percent will shop on Thanksgiving Day
More than one-third of consumers say they are likely to hit the stores at some point on turkey day though many will wait until the pumpkin pie is served to do so, Accenture’s annual Holiday Shopping Survey shows.
NRF: Consumers will be ‘thoughtful’ shoppers
This holiday season, consumers are expected to continue to spend their money cautiously and will expect thoughtful and knowledgeable customer service when they do choose to go into a store, the National Retail Federation (NRF) said in a recent conference call.
Business is improving, but the recovery remains slow
Jewelers of America’s 2013 Cost of Doing Business Report shows that jewelers’ sales continue to increase a little bit each year, and that brick-and-mortar retailers may be regaining ground when it comes to diamond sales.
Firm maintains holiday retail sales forecast
While fewer consumers shopped during the 16-day federal government shutdown, analytics firm ShopperTrak said its forecast for retail sales and foot traffic for the all-important months of November and December remains the same.
Confidence concerns linger in wake of impasse
Jewelers say they are concerned about how this latest fiscal crisis, coming only a little more than two months before the all-important holiday season, will impact consumers’ mindset about spending money.
Wealthy to spend more on jewelry this year
Affluent Americans are expected to increase the amount they spend on fine jewelry and watches over the next eight months, and jewelers catering to this high-end clientele could reap the benefits with the right store atmosphere and sales techniques.