Diamonds and watches look to be the favorites during the holiday gifting season. According to data from the Diamond Producers Association (DPA), 21 percent of Americans (around 53 million consumers) have made plans to purchase diamonds from Thanksgiving until Valentine’s Day. Men and Millenials are the primary demographic.
According to Reginald Brack, executive director and industry analyst for watches and luxury at the NPD Group, watches look to be a contender this holiday season as well.
“[I]f you don’t already have a strong relationship with an authorized retailer of either brand, you can forget obtaining one of these models at retail during the holidays,” wrote Brack in a recent blog post on the subject. “Neither brand sells direct-to-consumer nor online, so your only hope is having that relationship with a retailer in the all-important independent channel.”
Jewelry still remains as one of the highest demanded products, with The National Retail Federation citing that 22 percent of consumers hope to receive a piece as a gift. Overall retail sales are expected to rise by 4.2 percent this year.
Information originally sourced from JCK