IDEX Online: Sales rise at malls, surge online-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

IDEX Online: Sales rise at malls, surge online

Editor: Edahn Golan for IDEX Online 11/30/2010 7:25:30 PM

New York—Hordes of buyers entered stores in shopping malls across the
country on the day after Thanksgiving. Traffic increased 2.2 percent
from last year, with spending edging up 0.3 percent to $10.69 billion,
according to retail traffic measurement firm ShopperTrak.

Online
spending went far better, delivering double-digit growth. Online sales
rose 16 percent, with consumers pushing the average order price tag up
to $191 from $170 a year ago, an increase of 12 percent, according to
Web analytics provider Coremetrics.

Jewelry retailers reported a
17.6 percent increase in e-commerce sales, Coremetrics reported. The
company said affluent shoppers appear very willing to open their
wallets.

ShopperTrak, which records sales and customer traffic
at more than 70,000 stores and malls, said early holiday sales and door
buster promotions drove Friday’s performance. The company also saw some
unexpected strength in early November, with sales and traffic for the
first two weeks of the month increasing 6.1 and 6.2 percent,
respectively.

ShopperTrak founder Bill Martin said the early
boost could affect retail performance beyond Black Friday. Yet Black
Friday’s allure was clear from the long lines on sidewalks, store
entryways and parking lots as early as midnight, as buyers were waiting
to get their hands on Black Friday deals, including discounted HDTVs,
toys, Blu-ray players, jewelry, home appliances and apparel.

Added
Matthew Shay, National Retail Federation president and CEO: “Retailers
nationwide have impressed even the most skeptical consumers, offering
aggressive prices on a variety of merchandise, which attracted both gift
buyers and even some who braved the crowds to go shopping for
themselves. While Black Friday weekend is only a small piece of the very
large holiday pie, holiday retail sales seem to be off to a great
start.”

NRF estimates that holiday sales will increase 2.3
percent this year to $447 billion. IDEX Online forecasts jewelry sales
to increase by 3 percent at most. Diamond jewelry sales alone are
predicted to go up by no more than 2 percent.

This story first
appeared on IDEX Online on November 28.

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