By Avi Krawitz
RAPAPORT… Online sales of jewelry and watches fell 24 percent from December 1-to-24, compared to the period November 26 to December 19 2007, according to comScore, as sales slowed in the final week before Christmas. Sales in the category until December 19 dropped 17 percent, the research company had reported.
Jewelry and watches ended the holiday season among the bottom four worst categories in comScore’s survey of online sales, along with computer software (-24 percent), office supplies (-30 percent), and music, movies and videos (-32 percent). The top performing categories, and the only ones to show positive growth, were sport and fitness (+18 percent), video games, consoles and accessories (+14 percent), and apparel and accessories (+4 percent).
comScore last week reported that total online retail sales fell 3 percent to $25.54 billion during November 1 to December 23. Despite the “disappointing” holiday performance, the company noted that e-commerce trends outperformed overall consumer spending in several product categories. These included jewelry and watches, which were part of the luxury sector in a study of brick and mortar retail sales published by MasterCard SpendingPulse last week, whereby luxury goods fell 34 percent this holiday season. MasterCard could not provide separate jewelry data as requested by Rapaport News.
comScore noted that the movement towards online buying was most prevalent among wealthier households as families with annual income above $100,000 spent 7 percent more online this year than last. Mid-income households of $50,000 to $99,999 saw online spending fall 8 percent, and low income households of below $50,000 saw their online spending decrease 13 percent in December.
Source: www.diamonds.net/news
