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The Gold Hike!
November 13, 2007
So, I’ve read a bunch of articles that pertain to how the increase in metal prices will hurt holiday jewelry sales…but do customers really understand the metal market?
Today gold was down from last week (when it was around 840 or so) and I’m still seeing customer’s coming in looking at gold earrings, bracelets, anklets, and so forth. If they perceive value they don’t mind spending the money for it.
At my store in Charlotte I have not felt the gold hike (except when I’m buying of course) but my folks store in FL is feeling it pretty badly because there the retailers sell gold by weight. Customers are always comparing the price per gram. We tried to move away from that by pricing gold jewelry by piece but soon learned we weren’t selling as much as when we sold pieces per gram.
Some are feeling the pinch while others are not—do you plan to buy more gold for the season? Do you feel your customer’s understand the metal market?
Posted by Shanu Singh Guliani on November 13, 2007 | Comments (3)