Am I the only one getting all those unwanted emails about buying luxury goods? I’m sure the reason for these campaigns is because luxury goods are flying so high. This is a crazy business when you look at the recent Nielsen Report. The top luxury buying populations are Greece, Hong Kong, India, and Hungary. Who would have guessed that?
According to the report, most people say designer brands are overpriced and not significantly higher in quality than standard brands. Most believe that wearing the brands is to project social status and hardly anyone believes the fakes are as good as the real ones. Calvin Klein is the number one brand bought while Gucci is the favorite if money were no object. All that is interesting, but what does it mean to the average boutique or fashion accessory retailer?
Gobs of money fuel the luxury goods spike and part of this money may be moving to you if people feel they need to tighten up. Accessories give a new look to apparel already paid for and hanging in the closet. Wishful thinking? There is a strong consensus called “the lipstick effect” that buying doesn’t quit; it moves to lower priced goods. The Upside of Economic Uncertainty elaborates on this tendency in society. So accessory retailers can benefit by offering unique fashion jewelry and accessories that bring a new look to an outfit at an affordable price.
Let’s focus on two important looks in wholesale jewelry that will help you update customers’ wardrobes. Classic deigns in fashion jewelry remain the most sought after look according to our sales statistics and gemstone jewelry proves to be the most popular. It is natural for all the eco-green customers and has more intrinsic value than costume jewelry in plastics. Turquoise is the gemstone in highest demand, but all semiprecious stones are doing well this summer.
A second important trend this summer is bright color. Accessories in bright colors can definitively give apparel a summer 2008 look. Both necklace sets and bracelets provide that splash of bright color that’s new on the radar this season.
These are two big hits this summer, but there are several more accessories that give an updated look to apparel. One simple solution is theme pendants and earrings that provide numerous different looks just by switching the chokers and chains the pendants slide on. These are excellent for summer sales, but attitude is important also. Customers buy more affordable accessories because they want to feel good so we need to ignore gloomy news and give them an uplifting experience.