Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Corinth Jewelers opens fabulous standalone store
    Positive Outlook for Holiday Sales
    Riding the Wave with Essential Lab Grown Diamonds in a Changing Market
    Saban Onyx helps independent retail jewelers get fancy
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    JA members push for security, credit reform in D.C.
    Columbia Gem House opens raffle to support Sea Turtle Rehabilitation
    CD Peacock partners with Foster Love to support Chicago’s foster youth
    NDC and Lorraine Schwartz announce the 2023 Class of Emerging Designers
  • Podcast
    Episode 44 -John Carter, From Small Town to Big Dreams of Jack Lewis Jewelers
    Episode 44 -John Carter, From Small Town to Big Dreams of Jack Lewis Jewelers
    Dangers of Jewelry theft and how to prevent them 350
    Episode 43 -Kenny Mullins, Dangers of Jewelry Theft and How to Prevent Them
    Inside the Generational Legacy of David Douglas Diamonds
    Episode 42 -Doug Meadows, Inside the Generational Legacy of David Douglas Diamonds
    An-Inspiring-Tale-Behind-50-Years-of-Jewelry-Design-and-More
    Episode 41 -John Atencio, An Inspiring Tale Behind 50 Years of Jewelry Design and More
    Episode 39 -Brittany Jones,95 Years of Excellence and Legacy of JF Jones Jewelers
    Episode 40 -Brittany Jones,95 Years of Excellence and Legacy of JF Jones Jewelers
    The Rise of Luxury Handbag Trend in Jewelry Stores
    Episode 39 -Frederick Mannella, The Rise of Luxury Handbag Trend in Jewelry Stores
    Episode 38 – Kevin Patton, Gem-preneur Family Legacy of Pattons Fine Jewelry
    Episode 38 – Kevin Patton, Gem-preneur Family Legacy of Pattons Fine Jewelry
    Technology Meets Our Values
    Episode 37 – Kyle Bullock, Technology Meets Our Values
    A Pandemic-Born Success of Two Jewelry Visionaries
    Episode 36 – Brooke and Chase Brinson, A Pandemic-Born Success of Two Jewelry Visionaries
  • Columnists
    The Story Behind the Stone: Just Jewels
    Safeguarding High-Value Retailers: Unveiling the cyber risks and effective countermeasures
    4Cs of Diamonds? Here are the 4Cs of Jewelry Marketing to help you sell them
    Applied Marketing 101: The Next Big Thing
    Applied Marketing 101: The Asteroid Approaches
    The Story Behind the Stone: Oops there it is!
    Image of Chuck Koehler
    Cool New Things from the Atlanta Jewelry Show
    Image of Chuck Koehler
    The Retailer’s Perspective: It’s Springtime in September
    Barbiecore Bling! Are you in?
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • Digital Magazine
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archive
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Corinth Jewelers opens fabulous standalone store
    Positive Outlook for Holiday Sales
    Riding the Wave with Essential Lab Grown Diamonds in a Changing Market
    Saban Onyx helps independent retail jewelers get fancy
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    JA members push for security, credit reform in D.C.
    Columbia Gem House opens raffle to support Sea Turtle Rehabilitation
    CD Peacock partners with Foster Love to support Chicago’s foster youth
    NDC and Lorraine Schwartz announce the 2023 Class of Emerging Designers
  • Podcast
    Episode 44 -John Carter, From Small Town to Big Dreams of Jack Lewis Jewelers
    Episode 44 -John Carter, From Small Town to Big Dreams of Jack Lewis Jewelers
    Dangers of Jewelry theft and how to prevent them 350
    Episode 43 -Kenny Mullins, Dangers of Jewelry Theft and How to Prevent Them
    Inside the Generational Legacy of David Douglas Diamonds
    Episode 42 -Doug Meadows, Inside the Generational Legacy of David Douglas Diamonds
    An-Inspiring-Tale-Behind-50-Years-of-Jewelry-Design-and-More
    Episode 41 -John Atencio, An Inspiring Tale Behind 50 Years of Jewelry Design and More
    Episode 39 -Brittany Jones,95 Years of Excellence and Legacy of JF Jones Jewelers
    Episode 40 -Brittany Jones,95 Years of Excellence and Legacy of JF Jones Jewelers
    The Rise of Luxury Handbag Trend in Jewelry Stores
    Episode 39 -Frederick Mannella, The Rise of Luxury Handbag Trend in Jewelry Stores
    Episode 38 – Kevin Patton, Gem-preneur Family Legacy of Pattons Fine Jewelry
    Episode 38 – Kevin Patton, Gem-preneur Family Legacy of Pattons Fine Jewelry
    Technology Meets Our Values
    Episode 37 – Kyle Bullock, Technology Meets Our Values
    A Pandemic-Born Success of Two Jewelry Visionaries
    Episode 36 – Brooke and Chase Brinson, A Pandemic-Born Success of Two Jewelry Visionaries
  • Columnists
    The Story Behind the Stone: Just Jewels
    Safeguarding High-Value Retailers: Unveiling the cyber risks and effective countermeasures
    4Cs of Diamonds? Here are the 4Cs of Jewelry Marketing to help you sell them
    Applied Marketing 101: The Next Big Thing
    Applied Marketing 101: The Asteroid Approaches
    The Story Behind the Stone: Oops there it is!
    Image of Chuck Koehler
    Cool New Things from the Atlanta Jewelry Show
    Image of Chuck Koehler
    The Retailer’s Perspective: It’s Springtime in September
    Barbiecore Bling! Are you in?
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • Digital Magazine
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archive
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Columnists

George Prout forecasts the election’s impact on holiday sales

George Prout by George Prout
November 23, 2016
Share on FacebookShare on Twitter
Reading Time: 4 minutes

Prout HeadshotWe recently witnessed a political revolution of epic proportions. The manner in which these events are likely to impact holiday jewelry sales is an important topic, so here’s my analysis.

Economic conditions during the past 8 years have been challenging in many areas of the country. While it’s true that we didn’t fall off a cliff (as it appeared might be happening in the 4th quarter of 2008, when retail jewelry sales dropped by nearly 40 percent), the fact nevertheless remains that the recovery from 2008 was uneven, and as a general rule, rural America has suffered disproportionately.

So while the vast majority of pundits miscalculated the extent to which rural voter anger would drive the Trump vote, it’s now abundantly clear that many Americans – even in places that have historically voted Democrat – chose to register their displeasure by voting for the “outsider” who heard voices that no one else heard. And this revolution is likely to change the psychology of Christmas shoppers in the areas where the revolt occurred, which in turn will likely change traffic and sales in the jewelry retailing environment.

Recognize that this change will initially be strictly psychological. The true economic impact that the voters hope to see is still months – perhaps even years – away. But there is no denying the fact that when gift-givers feel good about themselves, their future prospects, and the overall economy, they are far more likely to treat themselves and the ones they love. Recognizing this new reality, Tiffany dramatically increased their profit forecast for the 4th quarter, and others will follow.

So, how will this shift in attitudes manifest itself in the independent jewelry retailing environment?

1) Expect both total transaction counts and average retail purchase price to increase in December.

2) Expect consumers who haven’t bought jewelry in years to start showing up again.

3) Expect a little less price resistance.

4) Expect a slightly earlier start to bigger ticket sales.

5) Expect a stronger participation rate in trunk shows and VIP customer events.

6) Expect a surge in bridal, as Millennial couples who were worried about the future now firm up their commitments.

Perhaps most importantly, expect stronger response rates to advertising than we have seen for quite some time. The way to think about this is to remember Christmas of 2008, when response rates to advertising slipped to near zero. We are going to now see the flip side of that scenario, as gleeful shoppers – who will finally be re-entering the luxury marketplace – react more strongly to special offers.

It will be some time before we can understand how the Trump Presidency impacts the overall economy long-term. But for the next 6 weeks, we’re probably going to see some nice increases. Predictably, the biggest participants in sales revenue increases will be those retailers who put the pedal to the metal on the advertising front, as well as those who continually replenish what’s selling. The birds are going to be flying, so it’s time to make sure you’ve got enough bullets in your gun.

Class Dismissed!

George Prout is Vice President of Sales and Marketing for Gems One Corporation, and can be reached via e-mail at info@gemsone.com, or at Gems One’s New York office at 800-436-7787.

 

George Prout

George Prout

George Prout is about to celebrate his 50th year in the jewelry business, having sold his first engagement ring as a 17 year-old sales associate working at Kay Jewelers in 1974. In each of the past 4 decades, he has worked for companies that rose to top three status nationally in sales volume to Independent Jewelry stores. Currently he is President of JB Bhanderi, the world's largest CVD grower and maker of the Surreal Diamond brand. He can be reached at george@surrealdiamond.com.

Related Posts

The Story Behind the Stone: Just Jewels

October 1, 2023

Safeguarding High-Value Retailers: Unveiling the cyber risks and effective countermeasures

September 27, 2023

4Cs of Diamonds? Here are the 4Cs of Jewelry Marketing to help you sell them

September 25, 2023
Applied Marketing 101: The Next Big Thing

Applied Marketing 101: The Asteroid Approaches

September 18, 2023

Latest News

Other News

JA members push for security, credit reform in D.C.

October 2, 2023
Other News

Columbia Gem House opens raffle to support Sea Turtle Rehabilitation

October 2, 2023
On The Move

CD Peacock partners with Foster Love to support Chicago’s foster youth

October 2, 2023

Other News

NDC and Lorraine Schwartz announce the 2023 Class of Emerging Designers

Punchmark introduces new jewelry web technology features

GIA supports diamond traceability solutions

Corinth Jewelers opens fabulous standalone store

Positive Outlook for Holiday Sales

Riding the Wave with Essential Lab Grown Diamonds in a Changing Market

Southern Jewelry News

© 2023 Southern Jewelry News.

Additional Information

  • About
  • 2023 Jewelry Trade Shows & Events
  • Media Kit
  • Contact
  • Sitemap
  • Newsletter Signup

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Podcast
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • DIGITAL MAGAZINE
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archives

© 2023 Southern Jewelry News.