IDEX Online Research: U.S. Jewelry Sales Expected To Increase 3 - 4% This Season
October 20, 05
U.S. jewelry sales are expected to increase by 3-4% this holiday season, according to a new report by IDEX Online Research. The report predicts U.S. holiday jewelry sales will reach $15.65 billion, up more than $400 million from 2004 holiday jewelry sales. This represents an increase in sales of about $16,000 per specialty jewelry store in the U.S.
The report notes that consensus forecasts for total U.S. holiday retail sales estimate gains in the region of 5-7%, with jewelers expected to perform under par compared to other retail sectors. The full 2005 Holiday Jewelry Sales Forecast can be viewed here.
The report, released today, notes mall sales of jewelry will come under pressure with consumers turning to off-mall retailers, such as a the large discount chains for their holiday purchases resulting in a decline in mall-traffic this year.
Higher-end retailers are also expected to outperform lower-end retailers, although the average price of jewelry sold in the season is expected to be down compared to the 2004 holiday season.
Top selling jewelry items this holiday season are going to make it a white (and yellow) holiday. IDEX Online Research predicates diamond jewelry sales will increase 5-6% during the period. Although summer is the wedding season, winter is the engagement season, with nearly 20% of all brides becoming engaged in December, resulting in a surge of diamond engagement ring purchases during the period.
Download the full 2005 Holiday Jewelry Sales Forecast report from www.idexonline.com/pdf_files/IDEX_Online_Research_Christmas_2005_Forecast.pdf. For more information about this study and other IDEX Online services, email research at idexonline com.