There were many important points which featured fourth quarter sales. They were observed both for the calendar period (October-November-December 2008) and the fiscal period (November 2008-December 2008-January 2009). These main highlights are as follows:
- High-end (highly sophisticated) specialty jewelers’ sales reduced to worse than the industry average. This was an outstanding departure from historical trends.
- Mass market specialty jewelers’ sales decreased less than the industry average. This was highly abnormal.
- Consumers were desiring to invest money on jewelry, even though total spendings were less than previous years’ levels. At the time of fourth quarter of 2008, American consumers invested 80 percent-to-95 percent of the levels in the previous year, depending on total industry purchases figures.
- It was a Price and Item fourth quarter. Jewelers who recorded the strongest sales on a relative basis benefited certain items at sharp price points. Emotional and institutional advertising did not imply to motivate consumers to invest money on jewelry.
- Consumers invested much more heavily when jewelers provided the impression of value.
- The Movado Outlet stores recorded a solid sales gain of +20 percent, due to two factors, namely they offer the impression of value and 2) they introduced several new jewelry items during 2008.