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EXCLUSIVE: Jewelry shoppers take their sweet time

By Michelle Graff and Mary Wisniewski
December 27, 2007

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New York—Procrastinating shoppers, particularly men, made for a busy few days before Christmas for most of the jewelers who spoke to National Jeweler today, ending the holiday season on a relatively positive sales note.

At Barnes Jewelry in Amarillo, Texas, General Manager Jeff Fox said he was "very busy" the weekend before Christmas and on Christmas Eve.

During this time, he estimates that 90 percent of his customers were men.

"I think, traditionally, the men wait until the last minute," Fox said.

Similarly, Evan James Deutsch of Evan James Ltd. in Brattleboro, Vt., reported that his store did an entire days' worth of business on Sunday, despite being open only six hours.

He also said Christmas Eve was one of the store's biggest days ever.

"Because jewelry is an impulse item, the guys wait until the last minute," Deutsch said.

Richard T. Velayo of Gleim Jewelers in Palo Alto, Calif., said his store witnessed a relatively late rush, with sales hitting the hardest seven days before Christmas, and then onward through Christmas Eve.

John Anshus of Anshus Jewelers in Menomonie, Wisc., also closed most of his major holiday sales at the last minute.

"Most sales occurred just two weeks shy of Christmas," he said.

This shopping pattern mirrors a national trend, a recent survey shows.

From Dec. 13-16, the International Council of Shopping Centers asked 1,005 households how much of their holiday gift buying they had completed.

Of those surveyed, 50 percent had completed half or most of their holiday shopping by the end of this time period, and only 20 percent said they had all of their Christmas shopping done.

The No. 1 reason for waiting: having the weekend before Christmas to shop, according to 67 percent of those surveyed.

Other reasons included the perception of having more time—there were 32 days between Christmas and Thanksgiving this year—and the popularity of gift cards.

Some 52 percent of respondents said they felt they could wait until the last minute because they were buying gift cards.

Overall, sales for the year were all over the board for retail jewelers across the country.

Deutsch said sales at Evan James were flat, as were sales at Castiglione Jewelers in Gloversville, N.Y., and at Brevelle's Jewelry in Lafayette, La.

But sales were up for 2007 at Allen's Jewelers in Albany, Ga., at Barnes Jewelry and at Anshus Jewelers.

Anshus said his store did quite well this holiday season, matching last year's results, which was one of the store's biggest years.

"We're very happy," he said.

Anshus said bracelets moved well, but pendants took over in sales with earrings to match.

Steven Goldfarb of Alvin Goldfarb Jewelers in Bellevue, Wash., also said he's pleased with sales.

"We're slightly up from last year," he said.

Goldfarb said watches sold well as did earrings and bracelets, but that he was a little disappointed in overall jewelry sales. Bridal was steady he added, but not explosive.

Further, Goldfarb said he sold less big-ticket items this year and more moderately priced items.

At Farmer's Jewelry in Lexington, Ky., owner Bill Farmer Jr. said ancient coins received strong attention from buyers.

His sales results this year were average, so Farmer Jr. said he'll get no rest.

"We worked hard and now we get to work hard again," he said.

Looking ahead to 2008, Farmer Jr. said he is optimistic for next year, and that he's already done well with trade-ups thus far.

Louis Castiglione of Castiglione Jewelers, however, said he's concerned about how increasing economic pressures will affect consumers in the coming year.

He said he saw more credit cards than ever used this holiday season.

"I've never noticed that so much before," he said. "People do not have the spending power they used to have. It makes me wonder what the next year is going to be."
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