The retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.
Singling out Singles Day
Singles Day, a celebration held in China, translated to more than $14 billion in sales for Alibaba.com on Wednesday. Senior Editor Hannah Connorton asks, why don’t we do that in the U.S.?
It’s being reported as bigger than Black Friday, Cyber Monday and Facebook’s total revenue last year, and it’s something retail jewelers should take note of: Singles Day.
On Wednesday, Alibaba.com, China’s largest e-commerce company, held its annual 24-hour online sale that marks Singles Day, a Chinese celebration for single (unmarried) people, celebrated on Nov. 11 (11/11) for the date’s connection between singles and the number one.
When midnight struck on Nov. 11, Chinese shoppers had bought $14.3 billion worth of merchandise through Alibaba alone. Not only is that number a 60 percent increase over last year’s total of $9.3 billion, it doesn’t even take into account competing websites.
From my chair, what Singles Day appears to do is give unattached consumers the green light to do something nice for themselves in light of their solidarity. I don’t know about you, but when it’s suggested I do something nice for myself, it always results in a purchase. Apparently, that suggestion does the same for many, hence Alibaba’s considerable payday yesterday.
So, if telling single consumers that they not only have a day out of the year dedicated to their marital status, but that they also can reward themselves with shopping deals online, why aren’t retailers in the U.S. doing it?
What a Singles Day equates to, for jewelry retailers, is a self-purchasing day.
On Thursday, daily e-newsletter The Skimm called Singles Day “Black Friday meets the anti-Valentine’s Day.” What this translates to, to me, is a self-empowerment day. Women who don’t need a partner to buy them jewelry. Men who won’t wait for someone else to buy them that new timepiece they’ve been eyeing. It’s Singles Day, baby--I can do this all for myself, they’ll say.
Tom Caporaso, CEO of Clarus Commerce, an e-commerce solutions provider, told CNN Money this week that while some firms are attempting to capitalize on Singles Day, most companies--including Costco and Blue Nile--are pushing it in China, rather than the U.S. What’s more, Alibaba, a huge Singles Day player, is not really a competitor to retailers here; Alibaba sold its first U.S.-based e-commerce venture, 11 Main, over the summer after it failed to gain any traction.
This leaves a huge opportunity for independent retailers.
Bottom line: Singles Day drove people in China--very many of them--to buy. Let’s give consumers in the U.S. the same reason to get online and spend.
The Latest
Lab clients have the option to request this addition on their emerald reports.
Jamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
In the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
Co-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
Along with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
The man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
The 2,488-carat diamond recovered from a mine in Botswana has been dubbed “Motswedi” while its 1,094-carat sibling is “Seriti.”
The average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.
The nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
The videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
Feldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
The luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
The nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
Gearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
The diamond cut grade is now available for marquise- and pear-shaped diamonds.
DDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
Estimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
The highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”