IMG Jewelers post 5.32% Increase in December

While most of the headlines during the 2013 Holiday Retail Season were generally negative and business was said to be soft or not up to expectations, IMG/ Freshley Media Jewelers did better than most US retailers and most jewelers.The average growth for the group was 5.32% in December with 62% of stores reporting a sales increase. Softness in the northeast and south held down the overall total while stores in the central med west and west did quite well. Note as well that 2012 was the best Christmas on record for many jewelers in our group, so the bar was pretty high going in.

Top performers included Dave Schneider Jewelers in Long Beach, CA with a 9.5% increase. Butterfield Jewelers in Albuquerque posted a strong 12% increase. Both Williams Jewelers in Denver posted a sizzling 15% increase and Michelson Jewelers in Paducah, KY took top honors, finished the holidays with an amazing 35% increase!

As with the rest of the year these increases reflected strong sales in larger pieces to more affluent clients while continued softness from entry level and middle class consumers held down results in many communities. Bridal continued to shine for most of our stores as well with average tickets continuing to rise. If there is one thing you people are willing to spend for, it’s that diamond engagement ring.

Louis Michelson shared with me his highlights and they included solid sales in bridal and fashion but it was a small trunk show they did with Jewels By Star that netted $180K in business! Unlike other stores, Louis reported that traffic kept building all season, right up to Christmas Eve. “Personal relationships and trunk shows are critical these days.” Louise shared with me, “There are only so may people with the means to buy really nice pieces and you have to work hard to nurture that end of you business. It’s not advertising driven…its people driven. Patty and our team worked hard. I’m proud of em!” Patty Lane is Michelson’s long time GM.

Well it’s into 2014 we ride. I expect continued incremental improvement in most of our markets through the year, but only to those stores who stay on offense when it comes to brand development and marketing. It should be increasingly obvious to everyone by now that success as a jeweler today is all about building the strongest brand and dominating your market. That means attracting and keeping new customers everyday. That means getting into the mind of the consumer before they are in the market to buy. That means having an advertising strategy that reaches enough people enough times with the right message to change the way they think. Change the way they think and you change the way they spend their money.

We’ve got a big exciting year ahead. Are you ready? Let’s get to work!