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.

More resources:

• http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/11/17/investopedia65157.DTL 5 Holiday gift ideas for the ladies
• http://www.sj-r.com/springfieldsown_features/x1624080822/The-holidays-are-your-time-to-sparkle Tis the season to sparkle
• http://www.jckonline.com/2011/09/29/holiday-survival-guide-diamond-studs-shoulder-dusters-bangles-oh-my Holiday survival guide
• http://money.msn.com/investment-advice/article.aspx?post=94199334-48a0-4ab3-a186-cf81c865bbfb Luxury jewelry sales on the rise
• http://www.metrowny.com/news/515-Red_and_gold_are_this_holiday_seasons_trend_.html Faux fur and gold are this seasons go to items

Holiday Season Kicks Off With Record Breaking Sales

Fighting the tryptophan from Thanksgiving turkey, an estimated 226 million Americans headed out to line sidewalks, parking lots, and stores entrances (or visited websites) in anticipation of a Black Friday deal. According to the National Retail Federation, that represented a 7% increase from the 212 million Black Friday shoppers last year.

Total spending on Black Friday reached an estimated $52.4 billion. According to the NRF, one quarter of Black Friday shoppers were at the stores by midnight Thursday, either waiting for the store to open or visiting those stores that opened at midnight.

Cyber Monday deals, meanwhile, also drew in a record number of online shoppers, up 33% from the Monday after Thanksgiving last year. According to IBM reports Consumers spent an average of 2.6% more this year than last on Cyber Monday. As expected a record number—10.8%--of shoppers used their smartphones or apps to shop, up 176% from last year.

"Consumers flocked online, with shopping momentum hitting its highest peak at 11:05am PST/2:05pm EST," IBM said in a statement. This showcases Americans’ growing comfort for online shopping. The top deals on Cyber Monday included a Samsung laptop from Amazon, 32” TV from Walmart, and Giada programmable coffee maker from Target. Even high-end stores like Saks Fifth Avenue followed suit offering 40% off its online inventory. IBM found that Cyber Monday brought in 29.3% more online sales than Black Friday did (although more shoppers were in the physical stores rather than online on Black Friday).

Most people who did their purchasing online did so using an Apple device. And Apple was the 5^th most visited online retailer this Black Friday behind Amazon, Wal-mart, Best Buy, and Target. And to no surprise, considering Apple broke all records this Black Friday. Their goal was four times more than normal and, according to Apple 9to5Mac’s source, they beat that forecast by 7 p.m.

While some analysts claim that this is the season of practical living, Karen Katz, Neiman Marcus president and Chief Executive Officer says their target consumers—affluent buyers—are confident and, therefore, spending this season. She notes how attuned upscale consumers are to the stock market and the broader economy, but that Neiman’s is “well positioned with luxury fashion and the latest trends.” Although business has been “good”, they declined to comment on the Christmas forecast or beyond. According to Bloomburg however, luxury goods are making a comeback. And the International Council of Shopping Center reports that sales at luxury stores open at least a year will climb 7.5 percent in November and December, faster than the 6.7 percent increase a year earlier.

For more information, check out these resources:

• National Retail Federation weighs in on Cyber Monday results
• Midnight openings proved to be well worth it this year
• Sales of Black Friday and Cyber Monday
• Apple breaks all records on Black Friday
• What recession? Black Friday sales are UP from last year
• Forbes, on the year of practical living
• Black Friday results are in! Breaking records
• Cyber Monday sets new records
• Luxury brand stocks jump

Holiday Retail Trends to Watch

With only 16 days before Black Friday and 39 days until Christmas, retailers are scrambling to capture what is expected to be modest consumer spending. As such, we’re seeing mobile marketing, extended hours for convenience, and the need for added value from retailers shape up as among the top holiday retailing trends.

The hype over Black Friday, November 25th, is already reaching a fever pitch. Within the last few days big retailers such as Macy’s, Kohl’s, and Target have announced they will open for the first time at midnight of Thanksgiving. While many retailers extend their hours on Black Friday, many will be open 24 hours on November 25th. And it is most likely additional retailers will follow along in the next few weeks. Retailers are also offering online deals on Thanksgiving Day even if their store locations are closed for the holiday. It is all due to several reports that holiday spending will be less than grand. The NRF, for example, expects total spending during the holiday period to rise 2.8%, down from 5.2% increase last year.

According to Mashable Business, the busy holiday season has more shoppers buying online than ever before. They calculated that about 66% of shoppers are shopping online. National Jeweler, meanwhile, projects at least 50% of people will use their mobile phones in some capacity for holiday shopping, even if it is just to check store hours.

Whether online or in store, a key to consumer sales this season will be adding value. About 93% of online retailers plan to offer free shipping during the holidays, and brands like Amazon and Walmart are offering price matching.

More:

• Competition intensifies as stores open earlier. Also Doorbuster myths
• A rundown of the top 10 trends for 2011 holiday, from NRF President and CEO Matthew Shay and Vice President Ellen Davis
• CNN Money explores predictions regarding Black Friday
• Everything you need to know about consumers shopping habits this holiday season

Fashion for the Masses: Social Media

In today’s digital society, Social Media has undergone what seems like an overnight transformation from personal representation of profile pages to something far more elaborate. Now, you would be hard-pressed to find a news program that didn’t attempt to engage their viewers via Twitter, or invite them to ‘Like’ their page on Facebook, follow their blog… The list goes on. The result is a personalization and democratization of information. The fashion industry, is no exception to this, shedding its long-standing reputation of elitism, as was evident during New York Fashion Week.

For the first time since its inception, organizers made New York Fashion Week available to the masses by use of live video streaming through YouTube (http://www.youtube.com/liverunway). Here, on its own dedicated channel, spectators from far and wide can view the collections of every designer as they are shown at Lincoln Center, and are able to engage in a live conversation via Twitter feed below. By eliminating the barriers and exclusivity normally associated with this event, designers can effectively engage the global community in their brand. Instilling and maintaining a Social Media presence is crucial to the success of any business expecting to propel itself to the center stage in a marketplace with a myriad of competitors. Clearly, for any designer to experience organic growth, they must step outside of their comfort zone with the idea that they more that they share, and the more transparent they are, the better the relationship will be with the consumer.

Fashion week is also showing us that Social Media has changed not only how brands interact with their clients, but how fashion news and information is disseminated. Blogs have opened a new gateway to information on trends, style, and an unbiased opinion like never before; and they are more influential than any publicist ever imagined. The most sought after seats at each show are now occupied not by celebrities and editors, but by independent bloggers.

How has Social Media changed your own interaction with consumers and your public relations outreach? Do you have a healthy network of influential bloggers in your network?

Weekly round up: August 19, 2011

Make your Tweets stand out; digital marketing tips for luxury firms; a Google+ primer, and tips on writing press releases. Here’s our summary of this week’s top news in the world of PR and social media.

Sweet Tweets

The biggest complaint I hear about Twitter is the deafening “noise” of tweets that people don’t care about. But are your own tweets contributing to that meaningless chatter, or rising above it? The key to Twitter (as with all social media) is to engage. This is the best summary I’ve seen on how to sweeten your tweeting.

The luxury market’s digital lag

Too many luxury firms are still too focused on digital bells and whistles, rather than engaging content. Here are some of the struggles, and some of the success stories.

Google+ for beginners (and intermediates)

I’m the first to confess: I’ve dabbled on Google+, but haven’t found the time yet to immerse myself and really figure it out. If you’re like me, or if you’re a few steps ahead, here are a couple instructional videos to help you master this booming new social media tool.

PR 101: press releases

Whether you’re trying to write your own press releases, or providing a quote to your agency for a release, this is a must read. Love this quote: “A common problem with press release quotes is that they’re full of lazy corporate verbs such as synergize, utilize, leverage, or facilitate. 'We are leveraging cutting-edge technology to meet our customer’s needs.' What does that even mean?”

Oxford’s new dictionary additions

The Concise Oxford English Dictionary added 400 new words this year. If you aren’t retweeting or sexting or cyberbullying, check out this article. Woot! Woot!

Weekly round-up: August 12, 2011

What happened this week? (I’m sort of wondering more: What happened to this week?!) Here’s my summary of the must-know news of the week for luxury, fashion and jewelry brands…

Social media’s influence on Americans

No analysis needed; the stats speak for themselves:

“The purchasing decisions of 38 million 13-80 year olds in the U.S. are now influenced in various ways by social media—up 14% in just six months.”

“Of the more than 149 million Americans actively using Facebook, 70% of these log on to the social network daily.”

Facebook ads now can target by zip code

I’m frequently asked about Facebook ads. Never been a big cheerleader, but this might be a game changer for regional brands…

Conde(Nast)Elevator Tweeter gets cold feet

The 8^th grader lurking inside me was secretly bummed to see this Tweeter vanish and stop churning out gossip from Conde Nast. The grown up in me, however, knows there’s enough ugly gossipers out there to (sadly) fill the void.

Gold expected to hit $2,000

Hard to believe gold may hit this high. Expect to see even more fine jewelry designers/brands experimenting with new metals and materials. On the bright side, necessity is the mother of invention, so I’m looking forward to seeing the creativity this will spur!

Vera Wang endangering her brand with Zales collaboration?

Vera Wang and Zales are interesting bedfellows, indeed. While mass/luxury brand collaborations are certainly nothing new, Zales doesn’t quite have the “masstique” allure of brands like H&M and Target... Yet. Something to watch.

David Yurman cozies up to Foursquare

We constantly push brands to embrace social media for marketing purposes, so kudos to David Yurman for embracing Foursquare! Agree, however, that their Foursquare content is far too self-promotional/product oriented.

“In order to encourage actual luxury customers, not just aspiring, to participate, it’s important to offer real-world incentives, an area where luxury brands have a difficult time,” Tamar Koifman, a senior social media strategist at Digital Luxury Group in Geneva, Switzerland and contributor to Fashion’s Collective.”

Baby steps…

The "Greening" of America’s affluent

This report is a personal favorite of mine… more than three quarters of affluent consumers are eco-friendly.

“76 percent of ecofriendly consumers have an annual household income of more than $150,000”

Proud to be representing a leader in socially conscious fine jewelry design: AnaKatarina Eco Gioielli!

How to come back from a social media gaffe

While we hope we never need to worry about it, here are some interesting case studies on the are of social media comeback

Miamore's News this Week:

• Have had a wonderful time working with the Rhode Island International Film Festival (there's one more day, in case you've missed it so far!). Thanks to the Rhode Show, Newport Mercury, Boston Globe and Projo (among others) for the coverage!
• Still drooling over the fall collection from Thistle & Bee... and over the stunning Lookbook we created for them!
• AnaKatarina Eco Gioielli isn't just a client; nor just a socially conscious luxury company; nor just another "designer" name. AnaKatarina Eco Gioielli is the baby of Ana-Katarina Vinkler-Petrovic--one of the most talented and intuitive designers I've yet to meet. Bonus: she's also, put simply: a beautiful soul. Love her blog, where we highlight her custom jewelry creations.

The Advantages of Having An Interactive Brand Representative

From the public relations advice guru DKNY-girl to the behind the scenes fashion insider OscarPRGirl, online brand representatives are not only driving company attention but also increasing sales. By looking at two huge digital presences, the women behind social media for fashion labels DKNY (Donna Karen New York) and Oscar de la Renta, it will become evident why every company needs an individual leading the company in the interactive world.

We have discussed the benefits of social media in previous posts: Twitter, Facebook, Tumblr, Blogger, Pinterest, LinkedIn, etc. Your company may even have one of several of these accounts. However, the questions that must be asked is, are you properly utilizing each medium? Are they consistent? Additionally, who is handling these accounts? If the tone or voice on several of your mediums is different, then your message will be viewed differently on each forum. Think deep down into the core of your business, what are you trying to provide your consumer? What good or service sets you apart from the competition in your given industry? Once you decide what message you are trying to promote to your target market, one individual needs to spearhead the movement into the interactive world. What keeps a customer coming back to a particular brand? Dependability.

In terms of how you can have a strong social presence like DKNY and Oscar PR Girl. Cross promotion is the first step. The two individuals behind these two accounts are using various mediums to promote the same message. No matter where you turn, whether clicking on Facebook, Tumblr, or Twitter, each forum displays the same voice and the same words (perhaps in a different format). Fans of these brands can turn to their web-savvy girl for help and advice, especially because these sites allow for fan/account holder interaction. What drives the success of these brands is not only the stable message they provide but also the fact that they stand in as 24-7 customer service representatives. Knowing that one can contact a dependable and stable member of the company is not only empowering to the consumer, but it makes the brand seem more relatable and personable.

What can you do? Be sure that your social media, PR and marketing messages are consistent in both content and tone. If you don't have an in-house PR/marketing team that can take on this task, find an agency that understands both PR and is social media savvy, in order to portray your one message across all channels and manage how the online world perceives your brand. “Social media is an invaluable tool for fashion brands and retailers,” says Rachel Strugatz, the online editor for Women’s Wear Daily. “Whether it’s Facebook, Twitter, blogs or branded editorial content, maintaining a dialogue with fans and consumers through authentic and engaging content is paramount in achieving success within the digital realm.” Over 1 billion of the world’s population is online, digital presence is serious so make your presence known!