It seems almost obvious: if people are feeling comfortable enough to buy luxury items such as jewelry, it may indicate that the economy may be slowly creeping up once again. Though, as this article points out, customers may be willing to splurge a bit more, but “tap out” easily. The momentum, in short, is choppy:
All the quarterly financials for the major chains covered by National Jeweler and included in that particular newsletter were positive. Comps rose 14 percent for Sterling Jewelers, 6 percent for Zale Corp., 15 percent for Tiffany & Co. in the Americas and 8 percent for Neiman Marcus.
The sales figures released by major chains are in harmony with the reports we received from retailersand the post-Black Friday sales figures released by a myriad of different analysts and agencies.
In short, it was a strong weekend for sales.
But, will this momentum continue through the holiday season and into next year? The answer seems to be nobody knows, or, at least, nobody can agree on a prediction.
In analyzing sales on Black Friday, The NPD Group Inc. said that the day came in with a “roar” as consumers packed stores early to take advantage of heavily advertised savings but went out with a “whimper.”
According to NPD, 56 percent of consumers who shopped on Black Friday said they weren’t likely to shop again that weekend, an indication that consumers are “tapped out,” one industry analyst said.