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Forevermark Holiday Sales Outperform Rest of Trade
Jan 19, 2017 9:45 AM
By Rapaport News
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RAPAPORT... Forevermark diamond sales in the U.S. jumped 6.4 percent during
the holiday season as product launches and focused marketing campaigns paid off,
De Beers chief executive officer Bruce Cleaver said.
Sales of the De Beers-owned brand added 7.6 percent in 2016,
Cleaver told Forevermark partners at a speech in New York. The figures are
based on a survey of a representative sample of Forevermark jewelers.
The performance of the Forevermark brand outpaced that of
the wider U.S. jewelry industry in terms of sales growth and profitability for
retailers, Cleaver (pictured) pointed out. Total jewelry sales edged up 0.7 percent in
December and increased 0.4 percent in the full year, according to data from the
MasterCard Spending Pulse cited by the executive. December sales growth at
independent jewelers was 1.4 percent.
“Margins on Forevermark diamonds and diamond jewelry were
four margin points higher than generic, reflecting your ability to achieve a
premium with Forevermark and improve your profitability for the same invested
dollars,” Cleaver told jewelers.
Forevermark’s growth comes on the back of several
initiatives, including a responsible-sourcing campaign that drew a positive
response from millennials and older, more affluent women, Cleaver explained.
The company also expanded Forevermark inscriptions down to diamonds as small as
0.10 carats and started offering the
possibility of buying a Forevermark diamond set in jewelry that is 100 percent
approved by the brand. A campaign to promote two-stone jewelry also helped
drive consumers into stores that sell Forevermark diamonds, Cleaver added.
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Tags:
Bruce Cleaver, De Beers, Forevermark, Jewelry, MasterCard Spending Pulse, Millennials, Rapaport News, retail
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