Kitsap Peninsula Business Journal
12-8-2006
SPECIAL REPORT - EXECUTIVE GIFT GIVING
The gift of jewelry
By Maura Hallam Sweley
It’s that time of year again. Stores are filled with holiday shoppers, searching for the perfect gift for friends, loved ones, even co-workers and employees.

For many gift givers, that perfect gift comes in the form of jewelry. In 2005 US consumers spent nearly $59 billion on jewelry and watches, according to the US Department of Commerce’s Bureau of Economic Analysis. And, as with the rest of the retail industry, jewelry stores frequently earn between 25 and 40 percent of those annual revenues during the holiday shopping season.

“Our last quarter is always our best quarter,” said Layna Phaff of Ben Bridge Jewelers, located in Kitsap Mall. She estimates that the store makes a little more than 45 percent of its sales total for the year during the holiday-crazed shopping months.

Jewelry stores are readying for holiday consumers with additional pieces, and sometimes even whole new lines.

“The more pieces that are available, the better sales will be,” said Leo Fried, jewelry designer and owner of Blue Heron Jewelry Company in Poulsbo. Fried, who creates custom jewelry pieces, and specializes in colored gem jewelry, typically begins work on holiday pieces in the summertime.

“We add more unique pieces and have a holiday catalog,” said Phaff of Ben Bridge’s holiday preparations.

With such a wide selection it can be a challenge for consumers to make a choice. Here are a few suggestions.

For Her: Jewelry for women is certainly the industry’s bread and butter, with some stores reporting up to 90 percent of their holiday sales as gifts for women. Diamonds, of course, are always a good choice, and diamond earrings and pendants are popular gifts of the season.

Pearls, another time-honored jewelry staple, are being given new life and new looks this season, according to the industry magazine, Modern Jeweler. Longer lengths and colored pearl combinations are allowing pearl pieces to have much more versatility than ever before.

Other trends in the jewelry industry include slim-cut gems and charm necklaces.

For Him: The fine jewelry industry has been expanding jewelry lines for men in the last few years. In fact, The Wall Street Journal called men’s jewelry “the fastest growing sector in the fine jewelry industry.”

Watches are a men’s accessory must, and cuff links are also a popular gift for men, especially now that more styles of cufflinks are available than ever before. Bracelets for men are also a good choice.

With professional athletes, actors and singers sporting jewelry more frequently, particularly diamond jewelry, more men seem comfortable with wearing a little “bling.” Alternative metals, such as tungsten, are currently popular choices for men’s jewelry styles.