There was an increase in the number of shoppers in the week ending Dec. 12, with 67 percent of U.S. consumers shopping at brick-and-mortar retail stores as compared to 66 percent the week prior, according to The NPD Group’s Shopping Activity Weekly Holiday Trends report.
Brick-and-mortar shopping conversion remained stable for the week ending Dec. 12 at 67 percent. Stores that increased their shopping conversion rates this week include national chain retailers (up 2 percent) and department stores (up 2 percent).
Despite stability and increases for shopping conversion arates, NPD reported that the average amount spent by shoppers during their brick-and-mortar buying visits was down five percent during the week ending Dec. 12 from the prior week. This is the first decline seen in the average amount spent after five consecutive weeks of increases.
“There is good news and bad news in these holiday results,” Marshal Cohen, chief industry analyst at The NPD Group, said. “The good news is that the consumer keeps shopping. The bad news is that the post-Thanksgiving lull continues. Retailers need to be more aggressive in luring customers into stores by using online and by offering more deals. We do see that some stores continued door-busters, and it has paid off.”
The online share of buying visits remained stable at 17 percent in the week ending Dec. 12, marking the second consecutive week at a record high level, according to NPD. While buying visits held steady, online spending levels have declined, with the amount spent per online buying visit dropping 18 percent the week ending Dec. 12 versus the prior week (which included Cyber Monday).
“Online continues to be the bigger story for holiday 2011,” Cohen said. “What I think will be next is more deals offered online that will help to regain the momentum that online has been building.”
The NPD Group’s Shopping Activity Weekly Holiday Trends report is a study fielded to 4,750 United States consumers daily, capturing brick-and-mortar shopping behavior and online purchase behavior in a range of categories.
Saturday, December 17, 2011
HRD Awards Top Design Honor to 'Porcupine Theory' By Jiang Zhe
Five diamond jewelry designers were recognized earlier this week for their winning entries in HRD Awards 2011, titled "You and Me." Diamond jewelry designer Jiang Zhe, who is from China, was awarded first prize for her "Porcupine Theory" (pictured) diamond brooches.
The other four finalists were: Alia Mouzannar from Lebanon, Gabri Schumacher and Maja Houtman from The Netherlands, and Chun Man Ping from Taiwan.
The event also recognized Ling Qiang, the president of the Shanghai Diamond Exchange, with the "Office of the Order of King Leopold II" for fostering strong diplomatic relations between Belgium and China.
The HRD Awards ceremony was held in Shanghai and included many important Belgian guests, including the governor and vice-mayor of Antwerp, the Belgian ambassador to China, the Belgian consul general in Shanghai and representatives from the industry.
The HRD Awards this year were jointly organized by HRD Antwerp and the Shanghai Diamond Exchange, were supported by the Gems & Jewelry Trade Association of China and sponsored by Kimberlite Diamond. The theme this year, Toi Et Moi, or You and Me, referred to the mystery of dualism and Yin and Yang, the balance of extremes.
In the initial selection process, which took place in October 2010, had a panel of experts select 29 designs out of 1,396 original submissions. During the course of this year those 29 finalists created their finished jewelry piece. The top five were then unveiled December 11.
''The fact that we held this year’s HRD Awards ceremony in China indicates that China's diamond industry is highly valued and recognized by the international industry experts,'' said Qiang. ''With the steady development of China’s economy, China's diamond sector has become a major partner in the world's diamond industry.''
Georges Brys, the general manager of HRD Antwerp, added that Chinese consumers are becoming increasingly aware of quality and authenticity, especially when buying diamond jewelry. ''Quality and authenticity is exactly what HRD Antwerp is promoting through its Diamond Certificates. The introduction of the HRD Awards collection in Shanghai will help us to further develop our business opportunities in China, by opening doors and connecting by means of the magic of diamond jewelry.''
The other four finalists were: Alia Mouzannar from Lebanon, Gabri Schumacher and Maja Houtman from The Netherlands, and Chun Man Ping from Taiwan.
The event also recognized Ling Qiang, the president of the Shanghai Diamond Exchange, with the "Office of the Order of King Leopold II" for fostering strong diplomatic relations between Belgium and China.
The HRD Awards ceremony was held in Shanghai and included many important Belgian guests, including the governor and vice-mayor of Antwerp, the Belgian ambassador to China, the Belgian consul general in Shanghai and representatives from the industry.
The HRD Awards this year were jointly organized by HRD Antwerp and the Shanghai Diamond Exchange, were supported by the Gems & Jewelry Trade Association of China and sponsored by Kimberlite Diamond. The theme this year, Toi Et Moi, or You and Me, referred to the mystery of dualism and Yin and Yang, the balance of extremes.
In the initial selection process, which took place in October 2010, had a panel of experts select 29 designs out of 1,396 original submissions. During the course of this year those 29 finalists created their finished jewelry piece. The top five were then unveiled December 11.
''The fact that we held this year’s HRD Awards ceremony in China indicates that China's diamond industry is highly valued and recognized by the international industry experts,'' said Qiang. ''With the steady development of China’s economy, China's diamond sector has become a major partner in the world's diamond industry.''
Georges Brys, the general manager of HRD Antwerp, added that Chinese consumers are becoming increasingly aware of quality and authenticity, especially when buying diamond jewelry. ''Quality and authenticity is exactly what HRD Antwerp is promoting through its Diamond Certificates. The introduction of the HRD Awards collection in Shanghai will help us to further develop our business opportunities in China, by opening doors and connecting by means of the magic of diamond jewelry.''
U.S. Jewelry Inflation Rises 9% in November Prices Rise But Drop Back From October Record
The consumer price index (CPI) for jewelry soared 9 percent year on year to 180.5 points in November, marking the second consecutive month with a reading above 180 points. However, November's reading was slightly lower than the record high set in October. The jewelry CPI is based upon the reference point of average prices in 1986, which is set at 100 points.
November's reading was also the 46th consecutive month greater than 150 points indicating the prolonged period of higher precious metals prices and, more recently, the increases related to diamonds and gemstones. Since gold and platinum have dropped considerably this past month, it is conceivable that the CPI reading for December will reflect softer product prices.
So far this year, each month registered inflation increases from the previous month except for May, September and November.
Meanwhile, the CPI for all product categories rose 3.4 percent year on year in November to 226.72 points, just slightly less than the record high set in September. The base period for that overall reading was provided by an average of 100 points taken from 1982 to 1984.
November's reading was also the 46th consecutive month greater than 150 points indicating the prolonged period of higher precious metals prices and, more recently, the increases related to diamonds and gemstones. Since gold and platinum have dropped considerably this past month, it is conceivable that the CPI reading for December will reflect softer product prices.
So far this year, each month registered inflation increases from the previous month except for May, September and November.
Meanwhile, the CPI for all product categories rose 3.4 percent year on year in November to 226.72 points, just slightly less than the record high set in September. The base period for that overall reading was provided by an average of 100 points taken from 1982 to 1984.
Friday, December 16, 2011
At $116 Mln, Liz Taylor Christie’s Auction Breaks Records
Renowned actress Elizabeth Taylor was known in life as much – if not more – for her love of jewelry as for her acting. With a record-breaking auction at Christie’s New York sales room last night (Tuesday), another facet was added to the story of her legendary jewelry collection.
“The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale” achieved an unbelievable $115,932,000, making it the most valuable jewelry auction in history.
The Taj Mahal Diamond
The sale was 100 percent sold both by lot and by value, with 24 of the 80 jewels fetching more than $1 million and six jewels topping out in excess of $5 million. In addition, seven new world auction records were established: price per carat for a colorless diamond and for a ruby; a pair of natural pearl ear pendants; a pearl jewel; an Indian jewel and an emerald jewel.
The top lot of the sale was the legendary 16th century pearl La Peregrina, which realized $11,842,500, setting two world auction records: for an historic pearl (against the previous record of $2.5 million set by La Regente at Christie’s Geneva, 2005) and for a pearl jewel (surpassing the $7 million record paid for The Baroda Pearls at Christie’s New York, 2007).
Another record breaker was the 33.19 carat Elizabeth Taylor Diamond. This D color, potentially internally flawless stone, realized $8,818,500, setting a record per carat price of $265,697. The diamond, a gift from Richard Burton in 1968, was bought at auction as the Krupp diamond, for $300,000.
Burton also gave Taylor The Taj Mahal Diamond, which he bestowed on her for her 40th birthday in 1972. The diamond, which was set on a gold and ruby chain, by Cartier, realized $8,818,500, setting a world auction record for an Indian jewel (against the previous record of $5.2 million set by the imperial Mughal spinel necklace at Christie’s Geneva, May 2011). Inscribed with the name Nur Jahan, the wife of the Mughal Emperor Shah Jahangir, this heart-shaped diamond is believed to have been a gift from the ruler to his son, who became the great emperor Shah Jahan (1592-1666).
Another husband gifted the Mike Todd Diamond Tiara, an antique diamond tiara, circa 1880, which sold for $4,226,500. As noted in her 2002 book My Love Affair with Jewelry, Todd presented this antique diamond tiara to her, saying, “You are my queen.” She wore it to the Academy Awards in Los Angeles in 1957, where Todd’s film Around the World in 80 Days won for best picture.
“The extraordinary results of the first jewelry sale are a tribute to Elizabeth Taylor's expert eye for fine gemstones and jewels, as well as her stature as a legendary star and inspiring philanthropist,” said François Curiel, International Jewelry director and president of Christie’s Asia. “I know she would be thrilled that her passion has inspired others through this landmark event. Being the auctioneer for this sale was one of the most memorable auctioneering events of my life.”
The jewelry sale was just the first of a four-day auction extravaganza dedicated to the personal collection of Elizabeth Taylor. The sales continue today with 190 additional jewels, including personal mementos and gifts.
“The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale” achieved an unbelievable $115,932,000, making it the most valuable jewelry auction in history.
The Taj Mahal Diamond
The sale was 100 percent sold both by lot and by value, with 24 of the 80 jewels fetching more than $1 million and six jewels topping out in excess of $5 million. In addition, seven new world auction records were established: price per carat for a colorless diamond and for a ruby; a pair of natural pearl ear pendants; a pearl jewel; an Indian jewel and an emerald jewel.
The top lot of the sale was the legendary 16th century pearl La Peregrina, which realized $11,842,500, setting two world auction records: for an historic pearl (against the previous record of $2.5 million set by La Regente at Christie’s Geneva, 2005) and for a pearl jewel (surpassing the $7 million record paid for The Baroda Pearls at Christie’s New York, 2007).
Another record breaker was the 33.19 carat Elizabeth Taylor Diamond. This D color, potentially internally flawless stone, realized $8,818,500, setting a record per carat price of $265,697. The diamond, a gift from Richard Burton in 1968, was bought at auction as the Krupp diamond, for $300,000.
Burton also gave Taylor The Taj Mahal Diamond, which he bestowed on her for her 40th birthday in 1972. The diamond, which was set on a gold and ruby chain, by Cartier, realized $8,818,500, setting a world auction record for an Indian jewel (against the previous record of $5.2 million set by the imperial Mughal spinel necklace at Christie’s Geneva, May 2011). Inscribed with the name Nur Jahan, the wife of the Mughal Emperor Shah Jahangir, this heart-shaped diamond is believed to have been a gift from the ruler to his son, who became the great emperor Shah Jahan (1592-1666).
Another husband gifted the Mike Todd Diamond Tiara, an antique diamond tiara, circa 1880, which sold for $4,226,500. As noted in her 2002 book My Love Affair with Jewelry, Todd presented this antique diamond tiara to her, saying, “You are my queen.” She wore it to the Academy Awards in Los Angeles in 1957, where Todd’s film Around the World in 80 Days won for best picture.
“The extraordinary results of the first jewelry sale are a tribute to Elizabeth Taylor's expert eye for fine gemstones and jewels, as well as her stature as a legendary star and inspiring philanthropist,” said François Curiel, International Jewelry director and president of Christie’s Asia. “I know she would be thrilled that her passion has inspired others through this landmark event. Being the auctioneer for this sale was one of the most memorable auctioneering events of my life.”
The jewelry sale was just the first of a four-day auction extravaganza dedicated to the personal collection of Elizabeth Taylor. The sales continue today with 190 additional jewels, including personal mementos and gifts.
GIA Expanding Into Japan
GIA has announced plans to establish a laboratory in Japan in 2012. The decision comes as GIA as experiencing a surge in the lab's services, creating a backlog of a number of weeks.
In addition to developing a lab presence in Japan, a GIA facility in Israel is scheduled to open in 2012 in the Israel Diamond Exchange complex.
Both initiatives will benefit the Institute’s ongoing efforts to expand lab capacity, GIA said.
“We are excited to develop a presence in Japan,” said Donna Baker, president and CEO of GIA. “Japan, along with India and China, are the world’s leading diamond markets, behind the U.S.”
Baker added, “GIA’s mission is to promote the public trust in gems and jewelry and, as such, we will do everything within our means to carry forth this mission in Japan and to assist the Japanese diamond community in furthering these goals.”
Further details on the GIA facility and services in Japan will be announced at a later date
In addition to developing a lab presence in Japan, a GIA facility in Israel is scheduled to open in 2012 in the Israel Diamond Exchange complex.
Both initiatives will benefit the Institute’s ongoing efforts to expand lab capacity, GIA said.
“We are excited to develop a presence in Japan,” said Donna Baker, president and CEO of GIA. “Japan, along with India and China, are the world’s leading diamond markets, behind the U.S.”
Baker added, “GIA’s mission is to promote the public trust in gems and jewelry and, as such, we will do everything within our means to carry forth this mission in Japan and to assist the Japanese diamond community in furthering these goals.”
Further details on the GIA facility and services in Japan will be announced at a later date
'Green Monday' Online Retail Sales Top $1B
Online retail sales for Christmas season 2011 in the U.S. continue to grow at a 15 percent pace for the period November 1 through December 12, according to comScore. So far this season, ecommerce retail sales have reached $26.8 billion following sales of $1.13 billion on ''Green Monday,'' which was December 12. Jewelry made comScore's list of categories for strong sales growth, coming in second place behind ''digital content and subscriptions.'' Other strong categories this season included, consumer electronics, video games, software, toys, sporting goods, hardware, apparel and event tickets.
Green Monday, which falls on the second Monday in December, experienced a 19 percent increase in online sales from 2010 and ranked as the third heaviest spending day of this season so far, following Cyber Monday at $1.25 billion and December 5 at $1.17 billion, comScore stated.
''Green Monday was another exceptional day for the online holiday shopping season, posting more than $1.1 billion in sales with a growth rate of 19 percent versus last year,'' said comScore's chairman, Gian Fulgoni. ''Green Monday also kicks off what should be the heaviest week of the year for online shopping, where we could see several billion dollar spending days, punctuated by 'Free Shipping Day' on Friday, December 16. It is interesting to note that for the past three years, Cyber Monday sales have exceeded those on Green Monday, demonstrating the degree to which retailer promotions and consumer awareness have grown the popularity of the Monday after Thanksgiving Day as the day to be buying online.
''That online holiday spending growth has remained well into the double digits throughout all the key days of the season also underscores the clear strength of the ecommerce channel,'' he said.
Green Monday, which falls on the second Monday in December, experienced a 19 percent increase in online sales from 2010 and ranked as the third heaviest spending day of this season so far, following Cyber Monday at $1.25 billion and December 5 at $1.17 billion, comScore stated.
''Green Monday was another exceptional day for the online holiday shopping season, posting more than $1.1 billion in sales with a growth rate of 19 percent versus last year,'' said comScore's chairman, Gian Fulgoni. ''Green Monday also kicks off what should be the heaviest week of the year for online shopping, where we could see several billion dollar spending days, punctuated by 'Free Shipping Day' on Friday, December 16. It is interesting to note that for the past three years, Cyber Monday sales have exceeded those on Green Monday, demonstrating the degree to which retailer promotions and consumer awareness have grown the popularity of the Monday after Thanksgiving Day as the day to be buying online.
''That online holiday spending growth has remained well into the double digits throughout all the key days of the season also underscores the clear strength of the ecommerce channel,'' he said.
De Beers to Announce New DTC Sightholder List
The Diamond Trading Company (DTC) has finalized its sightholder list for the next contract period beginning in April 2012 and will inform applicants of their status on Monday, December 19.
The De Beers distribution unit opened the application process in March requiring applicants to submit contract proposal questionnaires, which would demonstrate their financial stability and that the company meets De Beers best practice principles and ethical standards, among other requirements.
The new contract will run for three years through to 2015.
DTC is the main distribution unit for De Beers, however, there is growing market speculation that the mining group will supply less rough through the sightholder channel. This is largely the result of De Beers agreeing to supply 10 percent of its Botswana production to the Botswana government to tender those goods independently and as it has increased its efforts recently to expand its Diamdel auction business.
Currently, DTC has 66 sightholders in London, 16 in Botswana, 13 in South Africa, 10 in Namibia, and one in Canada, according to the company’s sightholder directory. There are also four sightholders for De Beers industrial diamonds.
The De Beers distribution unit opened the application process in March requiring applicants to submit contract proposal questionnaires, which would demonstrate their financial stability and that the company meets De Beers best practice principles and ethical standards, among other requirements.
The new contract will run for three years through to 2015.
DTC is the main distribution unit for De Beers, however, there is growing market speculation that the mining group will supply less rough through the sightholder channel. This is largely the result of De Beers agreeing to supply 10 percent of its Botswana production to the Botswana government to tender those goods independently and as it has increased its efforts recently to expand its Diamdel auction business.
Currently, DTC has 66 sightholders in London, 16 in Botswana, 13 in South Africa, 10 in Namibia, and one in Canada, according to the company’s sightholder directory. There are also four sightholders for De Beers industrial diamonds.
Tourneau Turns to MICROS-Retail for Ecommerce Platform
Tourneau launched its Tourneau.com ecommerce website using MICROS-Retail Open Commerce Platform. Tourneau needed a front-end design that reflected the iconic brand while developing an innovative navigation system and browsing mode for multiple platforms. To further build client relationships, the shopper can now schedule service appointments online or have a timepiece delivered to the store for future pickup.
The new website also acts as a showcase for Tourneau timepieces with high-resolution product photography that enables customers to view the slightest detail from inner-workings of the pieces.
MICROS-Retail's all-channel solution set includes MICROS-Retail's order management system, retail porter, and Open Commerce Platform, which is a Java-based, highly flexible commerce framework. In the near future, its Relate CRM solution will drive Tourneau's client outreach, and allow sales professionals to provide white glove service to their customers, regardless of where the transaction begins or ends.
"When embarking upon this new venture, we were impressed by the variety of MICROS-Retail's offerings and its forward-thinking multi-channel approach,'' said Don McNichol, the senior vice president of direct marketing for Tourneau. ''The integration of technology across all touch-points of the business affords a seamlessness that can truly benefit our business and our customers.''
John Gularson, the managing director of MICROS-Retail, explained, ''We worked closely with the Tourneau team to push the envelope and deliver a highly creative and interactive design that will engage and captivate the customer."
The new website also acts as a showcase for Tourneau timepieces with high-resolution product photography that enables customers to view the slightest detail from inner-workings of the pieces.
MICROS-Retail's all-channel solution set includes MICROS-Retail's order management system, retail porter, and Open Commerce Platform, which is a Java-based, highly flexible commerce framework. In the near future, its Relate CRM solution will drive Tourneau's client outreach, and allow sales professionals to provide white glove service to their customers, regardless of where the transaction begins or ends.
"When embarking upon this new venture, we were impressed by the variety of MICROS-Retail's offerings and its forward-thinking multi-channel approach,'' said Don McNichol, the senior vice president of direct marketing for Tourneau. ''The integration of technology across all touch-points of the business affords a seamlessness that can truly benefit our business and our customers.''
John Gularson, the managing director of MICROS-Retail, explained, ''We worked closely with the Tourneau team to push the envelope and deliver a highly creative and interactive design that will engage and captivate the customer."
De Beers Diamond Jewellers Opens in Kowloon
Today De Beers Diamond Jewellers opened at ELEMENTS in Kowloon, an urban area of Hong Kong. The luxury group defined ELEMENTS as being at the epicenter of luxury shopping and it marks the company's second store in Hong Kong after The Landmark in Central.
The highlight of this opening was the world debut of the Swan Lake Collection by De Beers. Inspired by the fluidity, beauty and elegance of ballet, intertwining lines of specially selected fancy-cut diamonds (pear, oval and marquise cuts) are reminiscent of the complexity and sophistication of a dancer’s choreography and performance. The special “Red Carpet” Swan Lake necklace features 258 white, fancy cut diamonds for a total of almost 123 carats.
The new 850-square-foot ELEMENTS store features a completely new design concept of glass, light and openness. At the opening ceremony, François Delage, the chief executive of De Beers Diamonds Jewellers, said, ''We are thrilled to open our first store in Kowloon, and further more our second location in Hong Kong. The magnetic energy at ELEMENTS has the ability to draw the most sophisticated shoppers in Hong Kong to the mall.''
Also presiding over the grand opening ceremony was Andrew Coxon, the president of De Beers Institute of Diamonds, who said, ''Fire is the scintillation or spread of color that we see, Life is the sparkle and, brilliance is the natural transparency of the diamond. We know that the highly discerning clients in Hong Kong will no doubt appreciate the superior fire, life and brilliance that our specially selected diamonds exhibit.''
The highlight of this opening was the world debut of the Swan Lake Collection by De Beers. Inspired by the fluidity, beauty and elegance of ballet, intertwining lines of specially selected fancy-cut diamonds (pear, oval and marquise cuts) are reminiscent of the complexity and sophistication of a dancer’s choreography and performance. The special “Red Carpet” Swan Lake necklace features 258 white, fancy cut diamonds for a total of almost 123 carats.
The new 850-square-foot ELEMENTS store features a completely new design concept of glass, light and openness. At the opening ceremony, François Delage, the chief executive of De Beers Diamonds Jewellers, said, ''We are thrilled to open our first store in Kowloon, and further more our second location in Hong Kong. The magnetic energy at ELEMENTS has the ability to draw the most sophisticated shoppers in Hong Kong to the mall.''
Also presiding over the grand opening ceremony was Andrew Coxon, the president of De Beers Institute of Diamonds, who said, ''Fire is the scintillation or spread of color that we see, Life is the sparkle and, brilliance is the natural transparency of the diamond. We know that the highly discerning clients in Hong Kong will no doubt appreciate the superior fire, life and brilliance that our specially selected diamonds exhibit.''
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