Looking Ahead to the 2022 Holiday Shopping Season
Prepare now for what is looking to be a major holiday shopping season for the jewelry industry.
Thinking about the holiday shopping season in the middle of summer might sound crazy, but anyone who has experienced the business brought on by the holidays will tell you that it’s never too early to start. Now is the perfect time to look ahead and start preparing. Do you know what styles you plan on promoting? Do you have a marketing plan in place? Do you have an idea of the next big thing you’re looking for to help your business stand out?
Let’s take a look at all this and more as we run full steam ahead to the holidays!
Looking Ahead: The Facts
There’s more to forward thinking and early preparation than purely to get ahead. The retail jewelry space is growing, and you must be ready for the increased volume of sales.
According to the National Retail Federation via Rapaport and National Jeweler, holiday sales in 2021 grew 14% nationwide — the highest in 20 years. This surpassed their earlier expectations of 8.5% to 10.5% growth. Industries within the clothing and accessories space, such as jewelry, saw the largest growth last year of 33%. Despite income levels affected by economic times and a global pandemic, shoppers are spending more than ever. And the National Retail Federation is expecting this trend to continue in 2022.
Not only can you expect a higher volume of sales this holiday season, but you will see those sales begin earlier. According to Rapaport, sales saw a slight dip from November to December in 2021. This is being attributed to shoppers making holiday purchases earlier due to concerns with shipping delays and supply chain shortages. With the current global economic climate, one can expect this pattern to repeat perhaps even earlier.
So, what can you do to prepare for the higher volume of sales at an earlier timeframe?
3 Steps for Holiday Shopping Preparation
1. Inventory Forecasting
Now is the time to plan the styles you will want to push during the holidays. Establish a mix of popular trends and beloved classics to appeal to all customers. We do the heavy lifting and have created resources to help you know what styles to choose. After months of researching, our team has created the 2022 Holiday Trend Guide. The items featured in this guide are just a taste of what’s to come this holiday season and are the perfect pieces to stock early in your store.
Explore these styles and more on Stuller.com.
2. Game-Changing Business Investments
Whether you’re looking to make large purchases for bench efficiency or searching for a selling solution to increase sales, use the summer months to make that investment. By the time the holiday selling season arrives, these tools will be a seamless part of your business workflow. You will feel confident providing your customers with the best the jewelry industry has to offer.
3. Personalized Business Solutions
There is a world of possibilities out there for ways to grow your business, but how do you know what’s the right choice for you? With Stuller Connect™, you can schedule a virtual consultation with a member of our team. We can help connect you with the right solutions for your business. Schedule your consultation today and let us help you prepare for a busy and successful holiday selling season.
The Stuller Difference
While it may seem far off, the holidays will be here before you know it. With the right strategy and planning, we are confident you will find success. And we are here to help make it happen. Stuller offers a vast in-stock inventory that is ready to ship with rapid delivery, giving you everything you need just in time. Qualifying customers can join Stuller First® — our loyalty program — to receive a variety of benefits, including exclusive marketing assets and special pricing on shipping. Finally, every Stuller customer receives the quality service and support that has been a cornerstone of our business for more than 50 years.
We cannot wait to be your partner in growth this year and beyond. Good luck with your holiday preparations and happy selling!
Taylor holds degrees in Political Science and Communication from the University of Louisiana at Lafayette as well as multiple certifications from GIA. His years in the wedding industry and love of fashion trends helps him write content for the on-trend and creative jeweler.