As a jeweler, it will come as no surprise to you that people love to buy jewelry during the holiday season. Bracelets, rings, watches and necklaces as Christmas presents? Who would have ever thought it? While it’s obvious that your store has more than likely had business pick up over the past several weeks, it should be noted that this is a trend that will continue to rise in popularity.
Earlier this week, Thomas C. Frohlich of 24/7 Wall St. published an article that detailed the amounts that Americans have spent on Christmas shopping dating all the way back to 1940. He notes that while the population of the United States has obviously increased over the years, so has the spending on holiday gifts. It should go without saying that the end-of-year holiday season is one that sees a big economic boost for most U.S. businesses.
Obviously, the jewelry industry is no exception. “For over a decade, U.S. jewelry stores have relied on the holiday season for between 25% and 30% of their annual revenue,” writes Frohlich, “Last year, 27.4% of jewelry sales occurred in November and December, the highest percentage of all industries. For reference, with no seasonality whatsoever, the average two months of sales would amount to 16.7% of annual revenue.”
He goes on to note that in the jewelry industry, an average two-month period outside of the holiday season would generally bring in approximately 15% or less of a company’s annual revenue. Holiday gift shopping, quite obviously, is something that jewelers all over the United States greatly benefit from. And, as previously mentioned, Americans seem to spend more and more on their holiday shopping with each passing year.
“According to a Gallup poll conducted from November 9-13, 2016 the average American plans to spend approximately $750 on just gifts this holiday season,” reveals Frohlich. Compare that to the just $205 in average holiday spending per American back in 1940. Of course, much as changed with both the population and the economy over the decades. And much has changed in the world of advertising as well.
No longer are American retailers sticking only to the age-old methods of flyers, billboards and even television commercials to advertise their products. With the advent of social media, many business owners are also making direct connections with the members of their customer bases. In today’s world, this works wonders. And it’s the reason that the Retail Event Marketing services provided by TK Enterprises Inc. have brought so many jewelers such great success.
Our unique service is specifically designed for high-end jewelry retailers who are looking to increase traffic for their in-store events. We make phone calls to existing customers to personally invite them to a variety of events that can be held at your store location. We’ve found that phone calls are undoubtedly the best way to send out invites because they are the most effective methods of making personal connections with the people most likely to support your business.