perfect timing
At press time,fourth quarter 2004 sales results were almost in (albeit somewhat prematurely),yet it s fair to say that holiday selling did not meet analysts expectations.A notable exception,however,was that of luxury goods—which,in most case,exceeded projections.
Those retailers hit hardest were big-name stores,inculding Federated,May Department Stores and Kohl s,as well as specialty chains like Gap and the Limited. according to published reports in The Wall Street Journal,The New York Times,and the New York Post,all concluded that the luxury sector scored the highest points(Neiman Marcus sales were up by approximately 15 percent).Following closely behind were specialty fashion chains such as Bebe,Aeropostale and Urban Outfitters,all known for their“cheap nchic”trends.The New York Post also reported that Neiman Marcus and Nordstrom saw robust sales of luxury items from furs to expensive handbag,while Bebe .Impressed fashionistas with rhinestone-studded jeans and metallic handbags.
Retail analysts further concluded that Holiday 2004 lacked a singular must-have item that consumers were vying for.To move goods out,they relied upon deep discounts earlier in the quarter compared to last year.
Yet price gauging or a shortage of hot items wasn t factor in the electronics sector. It continued to reap financial rewards well into fourth quarter,with brisk sales of ipods,camera phones,PCs and even plasma screen TVs. In terms of accessories,retailers confirmed that luxury goods—from status handbags to fur muffers,hats and collars to diamond jewelry and watches—performed best.And as for an item, most accessories divisionals I spoke to last year expressed their surprise regarding the success of the brooch trend in jewelry.Many stated that they sold out their intial offerings early in the fall season and found themselves scrambling to re-order additional stock for late October deliveries.
The timing of deliveries is so crucial, especially for fourth quarter, since a large chunk of business occurs during this period. And with fashion trends continuing to drive accessories selling this year,it would benefit retailers to test trends early, but bring in the breadth of the trend closer to season.This could jumpstart sales and prevent deep discounts closer to holiday selling.
Which trends lie ahead for 2005, not to mention the holiday season ? To name a few for spring /summer,we re betting on the layered necklace and pendant,as well as Western influences.Of course,we ll continue to report our predictions for each season in all accessories classifications to assist you in planning deliveries.After all, timing is everything!