Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
MajorsNov 28, 2017
NRF: 174M Americans Shopped Over Thanksgiving Weekend
This exceeded the National Retail Federation’s expectations, as consumers took advantage of deals and good weather.
Washington--More than 174 million Americans shopped in stores and online between Thanksgiving Day and Cyber Monday, according to the National Retail Federation.
This beat the NRF’s initial estimate that 164 million people would shop over the weekend.
This year marked the first that the National Retail Federation included Cyber Monday data in its final review of the weekend, which, combined with a new methodology for gathering numbers, means that it cannot make comparisons to previous years.
Though the NRF did not release total sales numbers for the weekend, it said overall, it was a strong start to the holiday season for retailers.
In a conference call Tuesday, CEO Matthew Shay attributed retailers’ performance to a number of factors: positive consumer sentiment, the overall health of the macro economy, favorable weather across the country and an investment from retailers in both the in-store experience and technology.
Shay also added that for first time in several years, there were no disruptive external factors, like the so-called fiscal cliff, a government shutdown, elections or Brexit, looming over the weekend.
These positive results from the NRF mirror what many jewelers told National Jeweler Monday morning when asked how the start of the holiday shopping season went for them.
According to the NRF, among those who shopped over the weekend, 60 percent said they were mostly driven to shop by the sales. Forty eight percent said the deals they saw this weekend were better than those earlier in the season, which indicates that retailers were ready with the right inventory mixes at good prices, Shay said.
The average spend per person over the five-day period was $335.47.
The demographic that spent the most was the 25- to 34-year-old age group at $419.52. Interestingly, 50 percent of that age group was shopping at department stores, either in store or online.
Fifty eight million consumers shopped exclusively online, 51 million shopped exclusively in store and 65 million did both. The multichannel shopper spent $82, or 32 percent more, on average than the online-only shopper, and $49, or 17 percent more, on average than the in-store shopper.
Top shopping destinations included department stores (43 percent), online retailers (42 percent), electronic stores (32 percent), clothing and accessories stores (31 percent), and discount stores (31 percent).
Some of the most popular gifts purchased included clothing or accessories (58 percent), toys (38 percent), books and other media (31 percent), electronics
(30 percent) and gift cards (23 percent).
The most popular day for in-store shopping was Black Friday followed by Small Business Saturday. The top two days consumers shopped online were Cyber Monday and Black Friday.
Still, according to the NRF, 91 percent of shoppers still have more shopping to do and 90 percent of them expect promotions to be the same or better as the holiday season progresses.
“A big key (to meeting expectations) is going to be capturing the momentum that we’ve seen over the last few days, turning that consumer interest into actual sales,” Shay said. “To make that happen, I think we’ll see retailers focusing on their inventory management, pulling all the levers that they can in all areas so ensure they’ve got the right product in the right place, the merchandising mix, the pricing mix, the marketing.”
The most popular day for in-store shopping was Black Friday followed by Small Business Saturday. The top two days consumers shopped online were Cyber Monday and Black Friday.
RELATED CONTENT: The 10 Days Predicted to be the Busiest This Holiday SeasonLooking ahead, Shay said he expects a strong holiday season, between the success of this weekend and the four full weekends of shopping left.
Still, according to the NRF, 91 percent of shoppers still have more shopping to do and 90 percent of them expect promotions to be the same or better as the holiday season progresses.
“A big key (to meeting expectations) is going to be capturing the momentum that we’ve seen over the last few days, turning that consumer interest into actual sales,” Shay said. “To make that happen, I think we’ll see retailers focusing on their inventory management, pulling all the levers that they can in all areas so ensure they’ve got the right product in the right place, the merchandising mix, the pricing mix, the marketing.”
More on Majors
The Latest
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-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.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
Weekly QuizDec 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat EscapeThe 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.
SourcingDec 19, 2024
The Second-Largest Diamond Ever Found Now Has a Name The 2,488-carat diamond recovered from a mine in Botswana has been dubbed “Motswedi” while its 1,094-carat sibling is “Seriti.”
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
SourcingDec 19, 2024
Gemfields Reports Record Ruby Auction Results Despite Challenges at SourceThe average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’sThe 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.
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co. More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video CampaignThe videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to RetireFeldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry ExcellenceThe luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’sThe nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo DriveGearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes The diamond cut grade is now available for marquise- and pear-shaped diamonds.
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award RecipientsDDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
SourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4MRecent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
SourcingDec 12, 2024
De Beers Announces 2024 ‘Shining Light’ Award WinnersThe competition awarded 12 designers, each from a country where De Beers recovers diamonds, with business support and tuition assistance.
