According to National Jeweler’s annual holiday weekend jewelry sales research, this year customers prefer classic diamond styles and spend between $100 and $400 average for holiday jewelry gifts.
Jewelry shoppers are sticking to the classics, since the classic pieces are timeless and be in style forever. That’s why classic solitaire engagement rings and diamond stud earrings are very popular and sold briskly. Moreover, De Beers’ Everlon Diamond Knot Collection, a diamond jewelry design intended to drive sales, is very hot and stirring up jewelry lovers interest in these sparkling pieces.
On the other hand, the increase on gold prices has a very bad impact on gold jewelry sales. Most customers choose to stay away from gold pieces and go for silver jewelry. The number of consumers selling gold or old jewelry for cash extended farther into this holiday season than it has in previous years. People are selling because they need money to buy gifts or pay their bills.
According to the results of the research, it seems like this year holiday sales has a slow start but there is a greater differentiation in terms of price-point sales. The middle range seems to have dropped significantly. Besides the sales of inexpensive pieces, some higher pieces are sold. While a customer is looking for a $250 diamond stud earrings, the other is spending $42,000 on diamond and pearl necklace.
Even the sales are still flat, the traffic to the stores and online jewelry stores increased. Jewelery stores are having a lot of traffic but not a lot of buyers so far.