Ouch. Yesterday, the Associated Press ran a story that was not a surprise to those of us in the jewelry business: Sales are down, and the holiday season is not looking so shiny.
According to the article, demand for rings, pendants and bracelets has declined due to high food and energy costs. Also interesting is the fact that everyone is cutting back, even wealthy customers, which is creating real chaos in the economy.
Standard & Poor’s Marie Driscoll said, “People that shop luxury, who demand a certain brand, they just don’t trade down… They simply do without until they feel comfortable to purchase again. Women who wear Prada and Chanel shoes — I don’t see them trading down to Cole Haan, even though it’s a great brand.”
I disagree. In my experience, big-ticket purchasers always always love a little bargain. Take your typical David Yurman customer. Is she going to wear that $1,350 Garnet & Ruby Square Ring to the grocery store? Probably not. But I guarantee that if she walks into a store and finds some $20 knockoffs, she’ll buy 10 in every color and wear them all the time.
Which brings me to Carved Creations. Simple, elegant, stylish, these are the kinds of rings that really make a statement without being too loud or blaring or garish. Each of Carved Creation’s Roman Numeral rings, Mother’s Rings, bold pendants and the rest deliver personalized jewelry at its finest–but at about a third of the cost.
Time will tell just how far jewlery sales will drop. The shopping period that kicks off after Thanksgiving is just around the corner, and then we’ll see where the chips fall.