The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
Don’t wait around to get busy
In re-capping 2010 with retailers, I had a number of them tell me that business was up during the course of the year, but all with one interesting footnote: Sales were off in the months when they would traditionally see...
In re-capping 2010 with retailers, I had a number of them tell me that business was up during the course of the year, but all with one interesting footnote: Sales were off in the months when they would traditionally see a lot of business--say, for instance, May for Mother’s Day--while the store was bustling in other months when business is usually dead.
“There is no rhyme or reason anymore,” one Arkansas retailer who’s been in business for more than 40 years told me.
Similar comments came from a jeweler in Louisiana and a store manager in California. The California retailer conjectured that the media might play a role, with consumers’ penchant for spending ebbing and flowing in tandem with the news about the stock market and unemployment.
The media, said industry analyst and Interactive Group President Jeff Taraschi, definitely has a greater impact on consumer spending these days. He said consumers today are “highly aware” of what celebrities wear to awards ceremonies--such as the recently-aired Academy Awards--thanks to the instant reports that pop up on the Internet nearly the same minute our so-beloved stars step onto the red carpet.
That can drive demand for a certain look or style just as, conversely, news about rising gas prices can cause consumers to clamp down on their spending.
“People who read are influenced by positives from the press and negatives from the press. I think that’s part of the equation,” Taraschi said.
But, he said, it’s not the whole story. He said the idea that retailers today don’t know how to anticipate what will be their busy months is “almost archaic.”
Today’s consumer is super-busy (though with what I’m not exactly sure since we have gadgets designed to make everything easier, but that’s probably a subject for another blog). People today want to “pack more into their life,” said Taraschi, so the idea of being able to shop by appointment or buy something online at the exact moment they have free during the day is ultra-appealing.
And while retailers shouldn’t completely abandon traditional forms of marketing, they do need to focus on being in touch with their customers 24 hours a day, 7 days a week, 365 days a year. They need to stop worrying about where all the Mother’s Day shoppers are in May or the engagement ring buyers in November and give people a reason to come into the store at any time.
“[Jewelers] have to be relevant to people who want to shop on demand rather than waiting for occasions,” Taraschi said.
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The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
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Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
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“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
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Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.