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Diamond & Jewelry Holiday Sales Figures
The Rapaport Report, a Diamond industry weekly newsletter, today reports that overall US Holiday retail Diamond and Jewelry sales were below projections.
Breaking down the numbers reveals that Brick & Mortar shops struggled whereas internet vendors reported surging sales compared to last year's Holiday Season.
The New York Times reported on
December 28 that Some retailers including Tiffany, Chico's and T.J. Maxx
might soon lower their projections for the fourth quarter.
Wal-Mart, the largest US retailer, yesterday reported
predictions that its sales would be in the middle of its revised
holiday numbers, that is, 1% to 3% up. Wal-Mart originally predicted a
larger increase, but the $256 billion chain reported poor results over
the post-Thanksgiving shopping period, and some analysts were worried.
They were relieved to hear yesterday's predictions.
In contrast, online retailer Amazon.com Inc. has reported a busy
holiday season and claimed a one-day retail record of 2.8 million
orders (the actual day was not specified).
Amazon said that diamonds of
all sizes were popular in earrings, pendants and bracelets. Other top
selling jewelry items included sterling silver blue topaz earrings,
Paris Hilton's sterling silver and Swarovski Crystal heart pendant on
a satin cord (16 inch), Paris Hilton's sterling silver and Swarovski
Crystal Star hoop earrings, and a floating heart pendant with diamond.
Holiday Season Retail Sales Growth:
Recent retail sales indicators show that while sales volumes have been
solid this holiday season they have not been exceptional.
The International Council of Shopping Centers (ICSC) and UBS's weekly
chain store retail index released on December 29 showed that rose 2.7%
in the week ended December 25 from the previous week, while sales rose
4.3% compared to the previous corresponding period.
UBS said it expected same-store sales, or sales in stores open at
least a year, to be flat at department stores. Overall, high-end
stores, such as Nordstrom, Neiman Marcus and Saks Fifth Avenue are
expected to outperform the sector.
According to some analysts, large U.S. retailers have had
disappointing holiday sales and are hoping to recoup some of their
losses during the January clearance sales.
E-tailers, on the other hand, faired the best. Industry consultant
comScore Networks projected that online shopping during the holiday
season would grow more than 26% to around $15.5 billion compared to
last season. The Jewelry sector showed the most dramatic increase year over year.
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