2021 Will Be the ‘Year of Jewelry,’ Analyst Says
Edahn Golan forecasts a blockbuster holiday season will cap off a stellar year for U.S. jewelry sales.
In a forecast posted Monday, Israel-based Edahn Golan said jewelry sales in the months of November and December will increase 40-42 percent year-over-year, a significant increase in a year that’s already exceeded many people’s expectations.
Golan bases his forecast on the trajectory of sales so far this year.
According to the U.S. Department of Commerce, U.S. jewelry sales totaled $7.3 billion in October, a record high for the month.
Year-to-date, U.S. jewelry sales stand at $67.8 billion, an astounding number that’s 9 percent ahead of the total for all of 2020 ($62.3 billion)—and November and December haven’t even hit yet.
Golan thinks U.S. jewelry sales will top $90 billion this year, an increase of more than 50 percent year-over-year.
Golan’s bullish forecast should come as no surprise to anyone who has been even casually keeping up with fine jewelry news and retail trends over the past year.
Retail sales are up across the board, with the National Retail Federation predicting a record-setting holiday season that, it said Tuesday, is already off to a good start.
Golan writes the decline in travel and the dip in related consumer expenditures—dining out, entertainment, excursions, etc.—“did wonders for” jewelry demand.
He noted particular strength in sales of gold as well as diamond jewelry—something retailers have talked about all year—and said he expects the demand for jewelry to continue into the early part of 2022, at least.
Read Golan’s full holiday forecast, as well as additional industry analysis, on his website.
The jewelry trade show awarded brands and individuals across 14 categories.
Many times, customers walk away without buying because of this one thing salespeople neglect to do, Peter Smith writes.
The donation to a school in Namibia included computer equipment, infrastructure repair and sanitary wear.
The most trusted diamond report, available in print or the GIA App.
More than 250 gem, jewelry, and mineral companies are expected to exhibit, including the American Gem Trade Association.
This year’s Design Atelier is full of gems.
They’re a testament to the power of excellent design.
Navigate origin determination with Continuing Education seminars offered by the GIA Alumni Collective™.
This year’s honorees include one of Florida’s largest independent jewelers and two multi-store independents in the Chicago and New York areas.
The industry’s most influential contemporary designers are showcasing their latest jewelry designs.
Created by Maitri Lab-Grown Diamonds and graded by IGI, it’s slightly bigger than the record-setting lab-grown diamond GIA just examined.
The marketing agency has integrated its first C-suite.
The jewelry trade show also will debut educational content centered around social media.
Luxury kicks off today, with the full show in swing on Friday.
One of the three new collections was inspired by the legend of a woman who traded her mansion to Cartier for two strands of natural pearls.
Rob Ballew will be tasked with communicating the jewelry giant’s plans and financial performance to investors.
With the app, customers receive a 15-day insurance offer on new purchases while their coverage needs are being evaluated.
It is in House of Showfields, a bazaar-style retail space in the borough’s Williamsburg neighborhood.
From consumer trends to retail technology, these are the JCK Talks sessions that should be on attendees’ radar.
Signature pieces from Cartier and David Webb will appear in the June jewelry auction.
They will be celebrated at the annual dinner dance and gala in the fall.
Gemologists have long used machines in diamond grading but technology has made it possible for them to “learn” how to do it on their own.
Supplier Spotlight Sponsored by IGI
Watch retailers Jeffery Bolling and Bobby Bengivengo discuss employee training, customer education and the sticky subject of future value.
The company has plans to revamp the Movado brand and offer less expensive watches this year.
Set with a 118-carat unheated Sri Lankan sapphire, it just sold for $3.4 million at Phillips jewelry auction in Hong Kong.
Sponsored by Noam Carver