Bright colors, charms, and classic looks are the top orders this holiday season as the pandemic keeps retailers cautious.
This will be a festive sales period like no other. Against the backdrop of a pandemic and an election year, how the holidays will pan out for jewelry stores is anyone’s guess. Needless to say, some stores are feeling nervous about the upcoming season, and advance orders are reflecting this.
“There hasn’t been a major change in the price points or styles that are being ordered,” says George Root, the designer behind New York-based brand Milamore. “The main shift we’ve noticed is that retailers are being quite cautious and avoiding making high-volume orders due to the uncertainty brought on by the pandemic.”
Lauren Abend, co-owner and director of sales at jewelry sales agency Mega Mega, agrees. Her company, which represents 12 fine jewelry brands in the US, isn’t “seeing a lot of big risks being taken right now,” she reports, but it does vary from store to store. Some are focusing on promoting surplus stock rather than buying new, while others, “particularly those with strong e-commerce, have brought in collections that they think will be easy to sell to ensure their clients have something new and special to see.”
Bold spending
There is nonetheless a level of optimism in some pockets of US retail. Fueling it is an expectation that consumers whose financial situation hasn’t suffered badly from the coronavirus will choose to spend the money they would ordinarily have allocated to vacations, dining out and other discretionary spending, on more lavish gifts now that lockdowns have eliminated those options.
“The prevailing perspective I have heard from retailers is that they think the holidays are going to be big this year and shopping is going to start early,” says Jenny Crane McHugh, founder of jewelry brand Campbell +Charlotte. “They have been seeing some of their customers investing in bold, high-ticket items and hearing that customers aren’t afraid to do so because they aren’t spending in other categories, as they normally would during this time of year — things like travel and fashion. Consumers are…more comfortable investing in a jewelry piece that won’t go out of style next season and is more timeless than an expensive dress, for example.”
Talismans and ‘Zoom-worthy’ jewels
In terms of what retailers are buying for inventory, orders are mirroring the top trends that have emerged throughout the year, according to jewelry brands: talismanic jewels, charms with sentimental meaning, and optimistically bright and playful creations.
As we face more months of restricted movement — and therefore continue to dress, more often than not, from the waist up for conference calls — statement earrings and necklaces remain the most popular product categories. Rings aren’t entirely out, according to Eddie LeVian of fine jeweler Le Vian; they just have to be supersized.
“Our Zoom-worthy jewelry collection featuring 5- to 10-carat, highly polished and uniquely faceted rectangular gemstone rings are being launched by all retailers,” he says.
Timeless fashions
Another prevailing trend in festive buying this year is classic diamond jewels. “Think tennis bracelets and necklaces, diamond studs, and eternity bands,” says Abend. Just as statement earrings are the go-to for Zoom, masked meetings in real life also call for a particular type of earring.
“As far as rising trends in diamond jewelry, our classic Kwiat Tiara-cut studs and on-the-ear earrings have become a desired diamond jewelry staple due to the new mandates of masks,” says Marcy Debson, vice president of sales at New York-based jeweler Kwiat. “Our retailers are leaning toward classic and timeless designs versus trends.”
This also includes an increase in engagement-ring buying, serving a reported boom in post-pandemic proposals. The Christmas rush is expected to offer the segment a further boost. “I am seeing a continued commitment to bridal,” says fine jeweler Michelle Fantaci. “Clearly, love is irrepressible, pandemic or not.”
Hopefully, the festive shopping season will be similarly unfaltering.
WHAT’S IN STORE
We ask 10 jewelers: Which items have retailers been ordering most for the holidays, and what’s your pricing sweet spot this year?
“I have been receiving a lot of orders for my Juju Charm necklaces — the most popular is our Juju Heat charm followed by the Rainbow and Shooting Star. For price points, it’s $1,500 to $2,500, and $3,000 to $4,000.”
Jenny Crane McHugh, Campbell + Charlotte
“Our Kwiat Star large pendant and drop earrings are always a popular choice for gifting, and this year, that has continued to be the case. Our entry-level price points continue to be strong, but our classic luxury items have also been very popular.”
Marcy Debson, Kwiat
“We have sold rings [and] bands very well, especially eternity bands. However, we also keep seeing an increase in earrings. I want to say the volume is between $1,500 and $1,700 for online orders, and $5,000 and $6,000 on bands. At our retail partners, we have seen higher-priced items sell as well.”
Suzanne Kalan, Suzanne Kalan
“Our new collection, MKS Jewellery, and Pamela Love’s new demi-fine collection have both been doing really well. Most retailers are seeing strong sales in the $1,000 to $3,000 price range, but we have some stores that do well at higher price points.”
Lauren Abend, Mega Mega
“The Kintsugi diamond rings I and II have been two of our most ordered items. Retailers also seem to respond well to our Zodiac and Puzzle collections. In the US, most sales are within the $2,000 to $4,000 range.”
George Root, Milamore
“The most-ordered items have been the Le Vian Chocolate Diamonds Jubilee commemorative rings that come in a commemorative box. Le Vian’s most popular prices are $1,000 to $5,000.”
Eddie LeVian, Le Vian
“The enamel colors are on fire right now. I can’t make them fast enough. Price points in the $3,000 to $9,000 range have been very consistent, but we are also having regular sales in the $10,000 to $20,000 range.”
Katherine Jetter, Katherine Jetter
“Charm necklaces have been very popular, and specifically our Evren chain with its swivel clasp. We handmake our own swivel clasp and adorn it with old-cut diamonds for a vintage-inspired look. We have seen clients wanting something special — regardless of the price point.”
Corina Madilian, Single Stone
“My gold chains do really well for the holidays. They can be dressed up or down, and they are a true investment piece that is evergreen. And charms, which I’ve done for a while now but seem to be increasing in demand. I’ve got smaller-scale necklaces starting at $500, and full diamond earrings that would go for upward of $10,000 retail for a pair. It’s all about the client and who the retailer is targeting.”
Michelle Fantaci, Michelle Fantaci
“Moonstones and other exotic stones. Emeralds have been frequently requested for the past few holiday seasons. We have actually seen mid-tier to higher price points do well overall, versus more of our lower-price-point items — perhaps a phenomenon of people’s limitations [when it comes] to travel and otherwise spending money on experiences. We do expect this trend to continue through the holidays.”
Niveet Nagpal, Omi Privé
Main image: Single Stone Large Cobblestone Heart in 18-karat yellow gold set with 4.02 carats of cushion, old mine, old European, and round brilliant diamonds.
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