Independents
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Holiday shoppers stick with classic jewelry styles
December 15, 2008
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| Many of the jewelers who spoke to National Jeweler on Monday said customers are buying classic jewelry designs at lower price points, including diamond and silver pieces. |
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New York--Contrary to constant reports of the country's economic ruin, jewelers nationwide who spoke to National Jeweler on Monday reported brisk sales over the weekend, with customers investing in classic jewelry pieces in the $500 range over trendy styles.
As part of National Jeweler's annual holiday weekend roundup, which appears online every Monday through the end of the year, editors interview independent jewelers around the country.
Here is a region-by-region breakdown of how jewelers responded to our inquiries about hot products and key price points this holiday season, sales and more:
Northeast
At David Craig Jewelers in Langhorne, Pa., owner David Rotenberg said he is ahead 25 percent for the Dec. 1-14 period, compared with the same period last year.
"We're putting a lot of effort into it. I'm happy with it...but it's not without trying," he said.
And when it comes to how much his customers are spending, Rotenberg said they're buying Christmas gifts that are less than $500, or combining Christmas with a special occasion and spending big, in the $10,000-$15,000 range.
Customers are also choosing to stick with more classic jewelry styles and designs.
"Trendy and fashion items I don't see selling. I saw them selling better last year," Rotenberg said. "(It's) a sign of the times. People are just not comfortable with trendiness."
At Castiglione Jewelers in Gloversville, N.Y., owner Louis Castiglione said he's selling a lot of merchandise--mostly diamond jewelry--in the $1,000-$5,000 range.
And, true to form, his customers are sticking with the more classic jewelry styles, which is not surprising for Castiglione.
"Our market has always been very classical, so most of our inventory is classical," he said.
One trend that has caught on at his store are the silver jewelry lines of designers such as Lorenzo, which include bigger, bold looks but at a lower price point than other metals.
"They have the looks of the very expensive jewelry, but they're made of silver. I think that's trendy," he said.
Southeast
At D.B. Ryland and Co. in Brisol, Va., owner Frank Molteni reported fair sales over the weekend and said his customers are aiming for lower price points than they have in years past, with the average ticket hovering around $500.
He said the hot sellers of the past, such as three-stone earrings and necklaces, are not as sought-after this year, but he is selling a lot of designer Alwand Vahan bracelets in 14-karat gold and sterling silver.
The line is "a whole lot less expensive than David Yurman and looks kind of similar," he said.
Molteni said his market also is one where customers tend to stick to more classic jewelry styles, and they are not changing course this year.
"Here it's more traditional," he said.
Meanwhile, farther south at Wesley T. Sheperd The Jeweler in Boca Raton, Fla., owner Wesley Sheperd reported disappointing sales for the weekend, and said many of his fellow jewelers in that area are reporting the same.
"It's really, really bad," he said. "It's depressing."
He said even his customers who have money aren't willing to part with it, and his average ticket is hovering around $300-$400.
"They're going for really inexpensive stuff. That's what they figure they can afford," Sheperd said. "People, they're holding on to their money. I know I'm holding on to my money."
South Central
Retailers in the South Central region who spoke to National Jeweler reported brisk sales over the weekend, and, like their counterparts around the country, said classic jewelry looks are selling this season.
At Newton's Jewelers in Fort Smith, Ark., owner Kelly Newton said he was "very busy" over the weekend and has sold more pieces in the $5,000-$10,000 range than he did at the same time last year.
Also hot for him this holiday season: Alwand Vahan jewelry.
"It's kind of a Yurman look but a lot less (money). It's really good-looking stuff," Newton said.
He said he's also selling a lot of bridal from companies such as Lazare Kaplan and Memoire, and that his customers, in general, are choosing more classic jewelry styles.
"When things are tough, people go back to their roots," Newton said. "They're thinking long term."
Classic is also the case at C. Aaron Penaloza Jewelers in San Antonio, Texas.
Owner Aaron Penaloza said sales were brisk last week and over the weekend, and the average ticket ranged from $500-$1,000.
Hot sellers at this Lone Star State store have included diamond solitaires and diamonds-by-the-yard necklaces, which are so popular that Penaloza said he had to order more.
He said the shop is also doing well with estate jewelry, which gives customers the chance to own second-hand pieces from designers such as Dian Malouf at a fraction of the cost of the original.
"It's a great value," Penaloza said. "It looks like a really good deal and it is. The estate jewelry is a lot of bang for the buck."
Midwest
Retailers in the Midwest reported a mix of both lower- and higher-price-point sales for the week.
In Menomonie, Wisc., John Anshus said his store, Anshus Jewelers, has made fewer diamond jewelry sales than in seasons past, but the sales that are occurring have been at higher price points.
Anshus said unique fashion pieces have been the strongest sellers for his store, with gold jewelry items, including bracelets, necklaces and chains, among the top sellers.
"It's quite a change this year," he said of the pieces that customers are scooping up. "We've been selling our higher-fashion goods, and that's what's making the sales better."
Over in Highland Park, Ill., Jill Garfinkle, owner of Garfinkles Fine Jewelry, said the store had a "very good" Saturday," in terms of both dollar sales and traffic. A major draw was the Pandora trunk show that the store hosted that day.
While most of the store's sales have been at a lower price point, primarily in the $300-$500 range, Garfinkle said there have been a few higher-ticket sales, of about $3,000, in the last week.
Though unique designs are requested every once in a while from customers seeking the out-of-the-ordinary, Garfinkle said most of the pieces that have been selling are on the more conservative side, and earrings, especially hoops, have been the strongest of sellers.
For Garfinkle, one of the season's biggest surprises is the lack of watch sales.
"I'm usually very much ahead of what it is to be had, and I've noticed that watches haven't sold," she said.
At Billmeier Jewelers in Saginaw, Mich., giftware has been outselling jewelry, said Connie Feit.
Glass and crystal designs from Kosta Boda and Waterford, along with Christmas ornaments, are selling well, while in terms of jewelry, Feit said, "it's been tough-going this year."
Feit said there has been a spattering of sales of colored-stone and diamond goods at lower price points, "well under $500," and that it's not a normal situation for the store, but that the retailer was prepared for that heading into the season.
"We were pretty prepared for this because we are a GM [General Motors] town," Feit said. "We knew it was going to be a slower Christmas."
West Coast
On the West Coast, Steve Goldfarb's spirits were up after a successful weekend at Alvin Goldfarb Jeweler, which counts stores in Seattle and Bellevue, Wash.
The weekend before, Goldfarb had said it wasn't even worth coming in one of the days, but "this Sunday, it was definitely worth being there."
"Diamonds came back this weekend," Goldfarb said, adding that bracelets and earrings were the big sellers in diamond jewelry, with pieces typically selling in the $5,000-$10,000 price range, which Goldfarb said is "a little bit less than usual."
"The average ticket is down a little," he said. "There's less traffic, but it's better than it has been."
Goldfarb said a few things surprised him over this last weekend. One was the number of dads coming in with their children, which Goldfarb thinks might be attributed to families wanting to make such outings more of a tradition, showing the effort they make to give a lasting gift, especially during tough economic times.
Another surprise was the number of watch sales the retailer made in the last week, which Goldfarb said seem to have come "out of the blue."
In addition to watches, a product that has proven to be a strong seller for the retailer is a line of sterling silver dog tags called "PeaceTags." The tags, which can be found online at PeaceTags.com, sell for $130 at Alvin Goldfarb, and all proceeds go directly to the Fisher House Foundation, which provides "homes away from home" for military families to be together during extended treatment for serious injury, illness or disease.
Alvin Goldfarb doesn't make a profit from the dog tags, but Goldfarb calls the designs a "good traffic builder," adding that parents have been purchasing them as stocking stuffers and as gifts for kids.
In Jackson, Wyo., pearls and big earrings, especially in the $300-$1,300 range, have been the top sellers for J.C. Jewelers, said owner Jan Case.
Traffic has been "kind of quiet," she said, but it's normal for the store at this time of year, as J.C. Jewelers is located in a resort town and the ski season is just starting.
The pieces that have been selling tend to be on the unique, rather than the traditional side, but that's because it's the type of stock that the store tends to carry. The store's customers, who include both younger and older age groups, have also been interested in high-karat, highly textured yellow gold, Case said.
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More Independents
Paso Robles, Calif.--Eleven percent of Jewelry Consumer Opinion Council (JCOC) panel members plan to purchase fine jewelry or watches as a gift this holiday season, with 82 percent of this group believing they are either somewhat or extremely likely to do so, according to the JCOC's Pre Holiday study. Read More
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