Thursday, December 8, 2011

Jewelry Trends for the Holiday Season

Tis’ the season to think glitz and glamour. While holiday fashions vary from season to season, one thing remains the same: people still want to stand out with statement pieces or accessories. And while it may be true that diamonds are a girl’s best friend; gold, silver, platinum, precious gems, and semi-precious stones are also high on the wish list for this holiday season. The jewelry business has been strong all year with sales up more than 11% from last year according to the Jewelry Industry Research Institute. Regardless of the recession uncertainties, which may put a curb on other retail sectors, purchasing jewelry and accessories is often seen as a way to spruce up one's style without having to buy a whole new wardrobe. According to the Jewelers Board of Trade, the total sales in 2010 reached $63.4 billion, with consumer confidence slowly increasing, this number is expected to be passed by the end of 2011.

In addition to the traditional jewelry styles, oversized cocktail rings, diamond studs of all styles, long earrings, blinged out bracelets, and long pendent necklaces are the grand fashion trends this holiday season. Gold is appropriately the metal of choice for fashion jewelry as, according to MetroWNY, this season is about dressing to impress. Faux fur, for example, is a hot trend for this typically cold season. InStyle magazine lists stacked rings and shoulder sweeping earrings as festive trends. Elle magazine cites electro neons, Disco fringe, and punked-out patent leather as the seasons best accessories.

Gold might be the go to fashion metal, but when it comes to fine jewelry, thanks in part to volatile gold prices, sterling silver is hot this season according to JCK. And, yes, even with high unemployment rates and as the housing market remains a mess, consumers with large amounts of disposable income are buying expensive items such as jewelry this season. Ken Gassman, market researcher, found data from the Commerce Department, which shows the jewelry sales were up 14.6% in September. Neiman Marcus and Tiffany & Co. have benefitted from vigorous sales, according to MSN Money. Wall Street analysts figure Tiffany’s revenue will rise 17.7% to $802.14 million in the chain’s latest quarter. Zales reported a 5.8% sales increase and Signet Jewelers, parent of the Kay Jewelers chain, posted a 14% gain in sales at its flagship business.

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1 comment:

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