Survey: Jewelers Report “Terrific Business” This Holiday Season
An Instore Magazine “2021 Holiday Season Mini Survey” among independent jewelers reveals that more than half report that business has been “terrific” or “better than expected” so far in this holiday season.
The mini survey, which was taken by “more than 120 independent jewelers”, shows that less than 10% described the holiday season so far as “disappointing” or “dismal.”
Meanwhile, nearly 90% of jewelers said that their sales were up or the same compared to last year’s holiday season. The top selling items, according to the survey, are diamond-set goods.
The optimism shared by many of the independent jewelers in this survey echoes other uplifting surveys and reports. For instance, the Mastercard SpendingPulse survey, published late October, said that the upcoming holiday season is “anticipated to be the most wonderful holiday retail season on record.”
According to Mastercard SpendingPulse™, the luxury retail and jewelry sectors “have been experiencing some of the strongest YOY and YO2Y growth; that is anticipated to continue through the holidays.” For the traditional holiday period (November 1-December 24), sales of jewelry are expected to rise 59% year-on-year, and 52.9% when compared to the same period in 2019. For what the survey calls the “75 days of Christmas” (October 11-December 24), sales of jewelry are expected to rise 60% year-on-year, and 54.7% when compared to the same period in 2019.
An earlier survey among jewelers taken by Instore showed that 40% of jewelry stores expect 2021 to be a “once-in-a-decade year for sales.” A further 40% expect 2021 “to be better than the previous 10-year average.” According to the Instore 2021 Big Survey, carried out between August and September, one third of respondents said their 2020 sales were up more than 20% over 2019. 7% said sales were flat, and 27% said sales were down.