Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Product Pulse: The Bridal Business
In this month’s survey, we asked jewelers about their bridal business. How do your store’s sales of engagement rings and wedding bands compare?
New York--Nearly half of jewelers polled recently by National Jeweler and Jewelers of America said their engagement ring and wedding band sales are on the rise, with custom pieces performing particularly well.
When asked about the trend of their engagement ring sales over the past 10 years, 46 percent of poll-takers said they have increased in that timeframe, while 31 percent said they’ve stayed the same.
Overall gross margin on engagement rings ranges from 31 to 50 percent for more than half (56 percent) of those surveyed, which could be attributed to the current volume of jewelers leaning more heavily on their custom business.
“For us, our custom-designed engagement rings can incorporate a customer’s loose stone diamonds or be built from scratch,” one jeweler wrote when asked an open-ended question about their store’s top sellers. “We are our best brand by a long shot!”
Another survey-taker noted: “Overall our custom work is always our bestseller, repurposing grandma’s or mom’s old stones or providing new stones, making something custom and not charging prices as high as large chains. The personal attention paid to our customers has been a benefit to us.”
When it comes to specific brands, many jewelers listed Gabriel & Co., Simon G and Tacori as among their best-sellers. The dominant style for engagement rings, meanwhile, appears still to be the halo.
Wedding band sales have trended in a similar direction: increasing or staying the same over the past 10 years for 79 percent of retailers while decreasing for 22 percent.
Alternative metals such as tungsten, titanium and stainless steel remain popular, particularly for men’s bands, while Stuller and Lashbrook were among the brands listed as bestsellers.
One respondent noted that, “In men’s bands, alternative metals are always the bestsellers. That leaves more money to spend on the lady and, as we all know, that’s who the men have to keep happy.”
And even more margin is made on wedding bands than on engagement rings.
Seventy-four percent of respondents said that their overall gross margin on wedding bands is 41 to 50 percent (38 percent) or more than 50 percent (36 percent).
“In men’s bands, alternative metals are always the bestsellers. That leaves more money to spend on the lady and, as we all know, that’s who the men have to keep happy.”Bands, however, comprise a decidedly smaller percentage of a jeweler’s sales than
Nearly 60 percent of survey-takers said engagement ring sales make up 21 percent or more of their overall sales while only 31 percent reported the same for bands.
National Jeweler and Jewelers of America conducted the Product Pulse survey between March 28 and April 13. Approximately 200 jewelers responded.
The Latest
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.