Analysts See Signs Of A Jewelry Market Recovery
Pam Danziger, president of Unity Marketing told Marketwatch that affluent consumers are "selectively indulging once again" but that the spending was mostly driven by affluent consumers with average household incomes of $233,000 while the "aspirational" shoppers making below $125,000 are still more thrift-minded.
The news comes as it was revealed that Zale Corp, the company behind Zales Jewelers, has canceled some orders with suppliers and delayed payments. The Wall Street Journal said that Zale did not accept tens of millions of dollars of inventory at the end of November. The fact that a jeweler refused inventory just before the busiest time of the year appears to be a major sign of trouble. This reflects the fact that for the most part the Zales customer falls within the aspirational demographic which is still waiting to get back into the stores.