How Women Jewelers Are Creating a Legacy In a largely male-dominated industry, female role models can help empower the next generation by sharing knowledge and support. Dec 23, 2020 8:37 AM By Melissa Wolfgang Amenc
RAPAPORT. I decided to join the jewelry business in my late teens. I use the term “decided” loosely, because many will say you don’t choose this business; it chooses you.
I wasn’t an industry kid who had childhood dreams of glitter and gold or who spent weekends and vacations learning the business working for my family. In fact, as a kid, I never knew exactly what my father did. He owned a jewelry store, and there was a leather-walled elevator that smelled like him a mixture of cigarettes and his cologne. It went directly from his office to the ground floor, which seemed
RAPAPORT. Jewelry sales in the US fell 4.3% during the holiday period, even as e-commerce sales for the category soared.
Online sales of jewelry rose 45% year on year for the extended seasonal period, according to data from Mastercard SpendingPulse, which tracked purchases from October 11 through Christmas Eve. The jump in digital spending could not make up for the decreased foot traffic in stores.
Retail sales for all product categories excluding automobiles rose 3% year on year. Total online buying jumped 49% versus the same period a year ago, making up 20% of the total, compared to 13% in 2019.
Meanwhile, total holiday sales for the traditional November 1 to December 24 season rose 2.4%, with digital growing 47%.
RAPAPORT. Wedding spending in the US dropped in 2020 and will remain low in 2021, even as the number of people tying the knot next year is expected to surge, a survey found.
This year, 1.1 million couples wed, compared to an average of 2.13 million over each of the last two years, according to the latest data published by the Wedding Report. The average spend on a wedding in 2020 was $19,850, down from $24,680 in 2019, an August survey found, with many cancelling or pushing off their events to 2021 due to the coronavirus.
The coming year will witness about 2.77 million nuptials, as about 650,000 couples bring their celebrations forward, the wedding statistics forecaster noted. However, couples are expected to trim their guest lists, as well as their overall budgets. Those getting married will spend an average of $21,680 on their event next year.
Lucapa Diamond Company is in advanced negotiations to acquire the Merlin mine in Australia after the site’s owner entered liquidation earlier this year.“The Lucapa board considers that Merlin would be complementary to the company’s existing niche operating mines and exploration projects in.
Mood optimistic as US and European dealers close for holidays. E-commerce surges; US online sales +30% on Super Saturday and +56% on Sunday before Christmas. Brick-and-mortar quiet due to spread of Covid-19. Chinese jewelers expecting release of pent-up demand during Feb. 12 Lunar New Year..