Before presenting the top stories of the past month, I wanted to share some stats on Black Friday/Cyber Monday:
- According to a study by IBM, 24 percent of consumers used a mobile device to visit a retailer’s site on Black Friday, up from 14.3 percent in 2011. Mobile sales exceeded 16 percent on Black Friday—up from 9.8 percent last year—while mobile sales on Cyber Monday jumped an unbelievable 96 percent from 2011.
- Cyber Monday online sales increased 30.3 percent over 2011, according to a comScore study. Overall Cyber Monday spending reached $1.465 billion, up 17 percent from last year—representing the heaviest online spending day in history.
- According to an NRF survey, the average person spent $172.42 online over the weekend, an increase of 37.8 percent over 2011. Total spending during the weekend reached an estimated $59.1 billion.
- Encouraging news for the jewelry industry: The jewelry and watch category was in the top five top-gaining product categories on Cyber Monday. The category saw sales jump 17 percent over 2011.
Many of the jewelers I talked to earlier this week said Black Friday and Cyber Monday sales weren’t as crucial to them as the days immediately leading up to the holiday. Those sales may not be the be-all and end-all for the jewelry industry, but that doesn’t mean lessons can’t be learned from the retailers that did make a big promotional push last weekend.
Online and mobile sales continue their upward trend, and even if jewelers didn’t run a sales promotion, they should have been actively promoting their stores on social media. Consumer eyeballs were online in full force during the weekend, which should give the industry more incentive to embrace online and social—rather than shy away from both. They may not buy from you on Black Friday/Cyber Monday, but when the holiday gets closer, you want them remembering your name, not your competitors’.
If anyone has a good Black Friday or Cyber Monday story, feel free to email me at dford@jckonline.com, or let it in the comment section.
Here are the top 10 most popular jewelry news stories from November 2012:
Picture This: 15 Images of Jewelry Stores & Hurricane Sandy
“Great photos, and its wonderful that these jewelers were safe and dry,” says commenter Smadesign Grp.
Legendary Flawless Diamond Sets World Record at Auction
The Archduke Joseph Diamond raked in $21.5 million at auction. Which leads me to ask the really important question: Is there a better name for a ginormous diamond?
Lacy & Co. Shutting Down
“So sad to them leave the business! Ellen and Charles are one of the finest couples I’ve ever met and Lacy & Co. is a West Texas icon,” says commenter Jon Parker. “There just has to be someone who can continue their legacy with the care it deserves.”
Sterling Sues Zale Over “Most Brilliant Diamond” Ads
Zale and Sterling have long battled each other in America’s malls. Now they are also fighting in a court of law.
Berkshire Hathaway Calls Its Jewelers’ Earnings “Flat”
Berkshire Hathaway’s jewelry retailers produced flat earnings and lower revenues in the third quarter of 2012.
Jewelers Report Mixed Black Friday
Speaking of fun name recognition promotions, Lewis Diamond & Timepieces in Webster, Texas, handed out free doughnuts and coffee to people standing in line at the neighboring Best Buy. Free coffee and doughnuts = the original social media.
Quality Gold Acquires Leslie’s
“Leslie’s is a great company,” says Quality’s CEO, Michael Langhammer. “It’s been around for over 40 years. They have done a great job and they have created a great brand. We want to continue that.“
9 Carat Blue Diamond Discovered in Botswana
This incredible find just sold for $4.5 million.
Recovered Titanic Jewels Go on Display
This is certainly not the ice that brought the big ship down.
Cutting Remarks: The Incredible Shrinking Jewelry Industry
“I’m a new jeweler! There is still hope!!” says commenter Bailey Christenbury.
The top 10 tweets of November 2012:
Images of jewelers affected by #Sandy from @jckmagazine. Thinking of everyone affected. bit.ly/SAGTJl
— idazzle (@idazzle) November 2, 2012
Still believe the day should be spent w/family. More Retailers Starting Black Friday on #Thanksgiving jckonline.com/2012/11/12/mor… via @jckmagazine
— Craig’s Fine Jewelry (@CraigsGirls) November 12, 2012
@jckmagazine Love seeing how others in our industry are helping too… what a wonderful community we have!fb.me/2u1oDpnHM
— Jane Taylor Jewelry (@JTJewelry) November 13, 2012
According to @jckmagazine, more people than ever (okay, since 2007) plan to buy jewelry this holiday season. Yesssss,
— Sara (@stamped18k) November 13, 2012
Give ’em the finger with these @higginsstudio ringstwitpic.com/bczbua
— SUCCARRA (@SUCCARRA) November 13, 2012
Holiday online marketing is underway. Be careful of your early ad phrases or you’ll look goofy. ow.ly/fgRyl
— Matthew A Perosi (@matthewperosi) November 14, 2012
The jewels will go on – Recovered Titanic Jewels Go on Display – JCK ow.ly/fi7SS via @jckmagazine
— Brittany Siminitz (@JCKmarketplace) November 14, 2012
@dangordon @jckmagazine how very Willy Wonka of them
— amber_fike (@amber_fike) November 15, 2012
“It’s hard being a diamond in a rhinestone world.” I feel ya, Dolly. 5 Great #Quotes About #Diamonds via @jckmagazine ow.ly/fEDSj
— Anita Ferrer (@anitafe1) November 28, 2012
Follow JCK on Instagram: @jckmagazineDo you agree? What are your essential #jewelrybox items? bit.ly/SoQ2Uk #Jewelry #MustHaves
— Tracy Matthews (@tracymatthewsny) November 29, 2012
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine