FinancialsMay 17, 2024
Richemont Taps Jewelry Exec as New CEOThe announcement coincided with its full-year results, with growth driven by its jewelry brands.
SurveysNov 20, 2017
NRF: 69% of Americans Could Shop Thanksgiving Weekend
For the first time, the National Retail Federation included Cyber Monday in its annual survey to better reflect consumer behavior.
Washington--More than two out of three Americans could do some holiday shopping during the Thanksgiving weekend, according to a survey released last week from the National Retail Federation.
It was done by Prosper Insights & Analytics from Oct. 31 to Nov. 7 and surveyed 7,439 consumers.
The NRF noted that for the first time in the study’s history, the numbers include Cyber Monday along with Thanksgiving Day, Black Friday, Small Business Saturday and Sunday to more accurately capture consumer behavior throughout the entire weekend.
It indicates that 69 percent of Americans--an estimated 164 million people--are planning to shop or considering shopping during Thanksgiving weekend.
Black Friday is still expected to be the busiest day of the weekend.
Of those considering shopping the holiday weekend, about 70 percent plan to shop on Black Friday (115 million), followed by 48 percent expecting to shop on Cyber Monday (78 million), 43 percent on Saturday (71 million)--with 76 percent saying they will do so specifically to support Small Business Saturday--21 percent shopping Sunday (35 million) and about 20 percent indicating they plan to shop on Thanksgiving Day (32 million).
Of those shopping, 66 percent said they’ll do so to take advantage of deals and promotions from retailers, while 26 percent said it’s a tradition of shopping over the weekend and 23 percent said it’s something to do over the holiday weekend. Another 23 percent said it is when they start their holiday shopping.
“For Gen Z, the holiday shopping weekend is a can’t-miss opportunity,” Prosper Principal Analyst Pam Goodfellow said. “This group overwhelmingly sees in-store shopping as a valuable way to connect with others, be it friends, family or store associates at their favorite retailers.”
In fact, according the NRF, young adults between the ages of 18 and 24 years old are the most likely to increase their spending.
“As Gen Z and Millennials get older, their purchasing power increases, and the rise in disposable income is sure to be seen by retailers,” NRF President and CEO Matthew Shay said. “This group of consumers has spent time carefully researching gifts for friends, family and themselves, and are ready to begin knocking out their shopping lists.”
Fifty-four percent of consumers overall plan on spending about the same as last year.
Twenty-four percent, meanwhile, plan to spend more, but among those aged 18 to 24--which includes the oldest members of Generation Z--46 percent said they will spend more than last year.
The group following that demographic was those ages 25 to 34, with 39 percent in that bracket saying they plan to spend more.
When asked what they will buy, 61 percent of consumers said they’ll buy clothing and accessories, the same percentage as last year, while 59 percent will give gift cards, which is up from 56 percent last year.
Books, music, movies or video games will be given by 44 percent--also the same as last year--while 41 percent will give toys. Twenty-nine percent will give electronics, down from 30 percent in 2016.
When asked what they will buy, 61 percent of consumers said they’ll buy clothing and accessories, the same percentage as last year, while 59 percent will give gift cards, which is up from 56 percent last year.
Books, music, movies or video games will be given by 44 percent--also the same as last year--while 41 percent will give toys. Twenty-nine percent will give electronics, down from 30 percent in 2016.
More on Surveys
The Latest
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show SuccessJewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed LemurThis little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Weekly QuizMay 16, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from AuctionDespite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve DoneLilian Raji gives advice to designers on how to make the most of great publicity opportunities.
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire BrandsWhy do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips GenevaThe “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Events & AwardsMay 15, 2024
See Who’s in JA’s 2024 ‘20 Under 40’ ClassThe annual list recognizes young professionals making an impact in jewelry retail.
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 YearsOwner David Mann is heading into retirement.
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1 While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
