Shoppers start your engines. This year’s Black Friday sales event is forecast to be bigger than ever, with shoppers expected to spend a record $3.05 billion.
Consumers Are Already In a Spending Mood
The final weeks of the presidential election season didn’t stop consumers from spending this year, with a surprise 0.8% increase in the October Retail Sales number. Sales soared as Americans bought everything from cars to clothes to construction materials and health care products. Retail sales have picked up strongly in recent months as amid strong consumer confidence, a firm labor market and a pick-up in wage growth.
The holiday spending season is important to retailers as economists estimate that as much as 25% of all personal spending occurs during the holiday shopping season. Beyond Black Friday, the entire season is expected to pull down big sales numbers. Total holiday sales inNovember and December, are forecast to climb 3.6 percentto$655.8 billion, according to National Retail Federation data.
Jewelry and Gold Price Trends
Gold prices tend to move up prior to the holidays, in part due to an increase in gold jewelry buying for gifts. But, this year a pullback has offered gold buyers a better price entry point.
The strong price gains in gold in 2016 (at one point over 20%) have put a crimp on cost-conscious gold jewelry buyers. Gold jewelry sales fell in the third quarter but still totaled 493 tons, according to the World Gold Council. That’s a lot of necklaces and bracelets.
Big Markets around the Globe Buy Gold Jewelry This Time of Year
Looking ahead, the World Gold Council projects a recovery in the jewelry sector in the fourth quarter. Strong seasonal buying trends are seen this time of year, supported by the festival and wedding season in India, the main holiday season in Western markets, and Chinese New Year.
The first half of 2016 saw the strongest level of US jewelry demand for seven years as the market continued its gradual recovery in the wake of the 20079 financial crisis, according to the World Gold Council.
Wondering What To Get Your Wife, Daughter or Mom?
Here are some key findings from a World Gold Council survey of surveyed 2,000 US females aged between 1865:
Fine jewelry is more likely to be received as a gift, often bought by a spouse or partner, more likely to be a planned purchase, and is more likely to be a high value transaction.
Gold resonates particularly well with those consumers looking to buy a piece of jewelry that they feel is associated with tradition or reminds them of a special moment in their life. A key strength of gold for these consumers is that it keeps an inherent emotional and financial value over time and can be passed to the next generation, the World Gold Council found.
Gift Ideas for Your Husband, Father or Son
Do you have a history buff in your family? Gold coins are a collectible, but also an investment. What a better gift for the man in your life than a rare coin. Choose one to match an important date in their or your lives. Consider commemorative coins, which are widely popular and reflect the rich cultures of numerous civilizations.
Ancient Greeks and Romans used commemorative coins for a variety of record-keeping purposes, everything from honoring important events to relaying the daily news.
Commemorative coins cultural influence continues today as they play a fundamental and distinctive role in the U.S. rare coins industry. In addition to aesthetic and monetary value, each coin is deeply embedded in our nations history. These reasons make commemorative coins a highly promising investment option.
Black Friday is just getting going. Pick your gifts wisely. Consider gifts that can help to bring your family closer through beauty, historical significance and can offer the opportunity to build and protect your wealth at the same time.
Unlike bullion coins that are bought in bulk, rare coins must be carefully chosen on a one-by-one basis, and this requires a highly trained eye to spot opportunities. Dont go it alone. Blanchard and company can help you find what you need with the highest levels of speed, confidence and personalized service. Call for a consultation or just to learn more today 1-800-764-9135.