topic Re: Is QVC Getting Out Of The Jewelry Business? in Jewelry

Is QVC Getting Out Of The Jewelry Business?

fortune — Sun, 13 Aug 2017 21:55:52 GMT

I wonder if QVC is getting out of the fine jewelry business. Gone is the huge stock of 14k gemstone jewelry. Now we have few options. I really miss the jewelry shows and the opportunities to buy wonderful jewelry!

Re: Is QVC Getting Out Of The Jewelry Business?

sunshine45 — Sun, 13 Aug 2017 22:21:21 GMT

2017 qvc 2nd quarter results.......

Looking at our category trends. Our most challenged businesses in Q2 were jewelry, hair care and handbags, 3 of the underperforming categories that we've been discussing on the last few calls. In jewelry, we continued to reduce airtime in the quarter, and we expect to further reduce airtime in the coming quarters until we find the right level to deliver improved productivity. We're also continuing to test new product lines, including the successful relaunch of our Imperial Gold brand. And we're adding more jewelry events on our second network, QVC2, to satisfy our core jewelry customers.

Re: Is QVC Getting Out Of The Jewelry Business?

Annabellethecat66 — Sun, 13 Aug 2017 22:36:40 GMT

@sunshine45 What does that mean "reduce air time"?

Re: Is QVC Getting Out Of The Jewelry Business?

sunshine45 — Sun, 13 Aug 2017 22:43:22 GMT

@Annabellethecat66 wrote:
@sunshine45 What does that mean "reduce air time"?

it means that there will be less jewelry shows featured, particularly on QVC LIVE.

Re: Is QVC Getting Out Of The Jewelry Business?

software — Sun, 13 Aug 2017 23:13:56 GMT

"our Imperial Gold line"

I didn't know it was THEIR line.

Interesting,

@sunshine45 wrote:
2017 qvc 2nd quarter results.......

Looking at our category trends. Our most challenged businesses in Q2 were jewelry, hair care and handbags, 3 of the underperforming categories that we've been discussing on the last few calls. In jewelry, we continued to reduce airtime in the quarter, and we expect to further reduce airtime in the coming quarters until we find the right level to deliver improved productivity. We're also continuing to test new product lines, including the successful relaunch of our Imperial Gold brand. And we're adding more jewelry events on our second network, QVC2, to satisfy our core jewelry customers.

Re: Is QVC Getting Out Of The Jewelry Business?

banned again — Mon, 14 Aug 2017 00:51:31 GMT

@sunshine45 wrote:
@Annabellethecat66 wrote:
@sunshine45 What does that mean "reduce air time"?

it means that there will be less jewelry shows featured, particularly on QVC LIVE.

Jewelry programming was up on QVC Live in Quarter 2 2017 as compared with Q1: 247 hours in Q2 compared with 233 hours in Q1. As QVC claims sales were down, I would expect the number of hours to drop in the next couple quarters.

@However, @fortune, saying QVC is getting out of the fine jewelry business is quite incorrect. They're bringing over 300 new 14K and 18K Gold items into inventory this Wednesday for 29th Klondike Gold Rush on Thursday.

Re: Is QVC Getting Out Of The Jewelry Business?

millieshops — Mon, 14 Aug 2017 01:24:21 GMT

I don't see QVC leaving jewelry totally out of their line up, but right now jewelry everywhere is a difficult area. In my Long Island town, we lost half of the good jewelry stores we once had within the last few years and the one left which used to sell wonderful gemstone pieces and have many on display now stocks a very small inventory. Even the shops which had decent costume jewelry have dwindled in number.

The statistics are saying that many people are just not buying the same way they used to, and I know I'm right there. Five years ago, I finally realized I was buying new jewelry more to HAVE it than to actually WEAR it. Silly. I pretty much quit buying and what I've spent during these last five years for all the jewelry I bought as well as all the repairs I've had done including watch batteries even, I've spent less totally than I was spending in an average month. I don't even miss new.

Companies can't survive selling jewelry to consumers like me. That much I know for sure.

Re: Is QVC Getting Out Of The Jewelry Business?

culebra — Mon, 14 Aug 2017 02:37:27 GMT

I hope not. I still like and buy Judith Ripka and Barbara Bixby.

Re: Is QVC Getting Out Of The Jewelry Business?

depglass — Mon, 14 Aug 2017 13:45:26 GMT

I'm asking one of you sharp business people to check on who owns Imperial Gold. It doesn't seem to be a trademarked name, other companies are also using it. All I find in a quick check is a filing in Florida in 1988 that is now inactive, but that traces to Texas, making me think this is "our" Imperial Gold.

Re: Is QVC Getting Out Of The Jewelry Business?

Shanus — Mon, 14 Aug 2017 14:11:52 GMT

@sunshine45 wrote:
2017 qvc 2nd quarter results.......

Looking at our category trends. Our most challenged businesses in Q2 were jewelry, hair care and handbags, 3 of the underperforming categories that we've been discussing on the last few calls. In jewelry, we continued to reduce airtime in the quarter, and we expect to further reduce airtime in the coming quarters until we find the right level to deliver improved productivity. We're also continuing to test new product lines, including the successful relaunch of our Imperial Gold brand. And we're adding more jewelry events on our second network, QVC2, to satisfy our core jewelry customers.

Maybe it should be a consideration that many of our cable companies do not carry Q2. I'm not willing to watch a few hours of jewelry on a small screen computer or worse, my IPad. Perhaps there should have been a study re: Q2 on how many cables and keep those jewelry shows that bring in revenue on the original QVC.

As as far as I'm concerned, Q2 is a waste of time for the company: precorded shows, same shows that have been on QVC at one time or another, or worse for example, CIJ on both channels on the same day, hosts have been spread too thin, etc.

After dealing w/ the financials, maybe they'll figure it out themselves.

Re: Is QVC Getting Out Of The Jewelry Business?

Shanus — Mon, 14 Aug 2017 14:16:00 GMT

@banned again wrote:
@sunshine45 wrote:
@Annabellethecat66 wrote:
@sunshine45 What does that mean "reduce air time"?

it means that there will be less jewelry shows featured, particularly on QVC LIVE.
Jewelry programming was up on QVC Live in Quarter 2 2017 as compared with Q1: 247 hours in Q2 compared with 233 hours in Q1. As QVC claims sales were down, I would expect the number of hours to drop in the next couple quarters.

@However, @fortune, saying QVC is getting out of the fine jewelry business is quite incorrect. They're bringing over 300 new 14K and 18K Gold items into inventory this Wednesday for 29th Klondike Gold Rush on Thursday.

Many of us have said that the jewelry on Q and/or Q2 has been sub par. Maybe that's the real problem. 300 new pieces of gold jewelry means nothing unless the designs are interesting and worth the high prices.

Re: Is QVC Getting Out Of The Jewelry Business?

nycgrl — Mon, 14 Aug 2017 15:04:17 GMT

My mother used to buy a lot of jewelry here and I have purchased my fair share as well, but it started going downhill when they tried to shove oro nuovo and bronzo down our throats, and offer us measly gram weights and charge a small fortune. I know gold prices went up, but quality went down. I still buy jewelry - not everyday, but when I do I want quality and I want gold, but that's just me. Maybe there are a few more people out there like me - would rather have quality over quantity.

Re: Is QVC Getting Out Of The Jewelry Business?

Shanus — Mon, 14 Aug 2017 15:08:37 GMT

@nycgrl wrote:
My mother used to buy a lot of jewelry here and I have purchased my fair share as well, but it started going downhill when they tried to shove oro nuovo and bronzo down our throats, and offer us measly gram weights and charge a small fortune. I know gold prices went up, but quality went down. I still buy jewelry - not everyday, but when I do I want quality and I want gold, but that's just me. Maybe there are a few more people out there like me - would rather have quality over quantity.

@nycgrl. Being a jeweler myself, quality always comes before price. I also prefer the white metals. Although I love silver, I'd also like to see an increase in the selection of white gold pieces...no polishing (😜).

Re: Is QVC Getting Out Of The Jewelry Business?

Trinity11 — Mon, 14 Aug 2017 15:43:40 GMT

@millieshops wrote:
I don't see QVC leaving jewelry totally out of their line up, but right now jewelry everywhere is a difficult area. In my Long Island town, we lost half of the good jewelry stores we once had within the last few years and the one left which used to sell wonderful gemstone pieces and have many on display now stocks a very small inventory. Even the shops which had decent costume jewelry have dwindled in number.

The statistics are saying that many people are just not buying the same way they used to, and I know I'm right there. Five years ago, I finally realized I was buying new jewelry more to HAVE it than to actually WEAR it. Silly. I pretty much quit buying and what I've spent during these last five years for all the jewelry I bought as well as all the repairs I've had done including watch batteries even, I've spent less totally than I was spending in an average month. I don't even miss new.

Companies can't survive selling jewelry to consumers like me. That much I know for sure.

@millieshops.....Hi, you would not be referencing Fortunoff's would you? The small boutique Esther owns is a shadow of its former self. It is sad to go in there and see how uncrowded it is. The merchandise has changed in quality too. More I1, I2 diamonds. They used to pride themselves on not selling commercial quality goods but apparently, now they do.

Slightly off topic but I was at a mall this weekend and was doing some people watching. I had on my usual wedding rings, bracelet, watch and earrings with a necklace. I felt overdressed. Just about no one had on jewelry. I think there are other more pressing things to own and jewelry is taking a back seat. The MAC store was packed though....

Re: Is QVC Getting Out Of The Jewelry Business?

Shanus — Mon, 14 Aug 2017 15:58:15 GMT

From a professional observation, jewelry styles are changing more rapidly and with drastic opposite looks. One season, large colorful statement necklaces to 36" long chains to layering w/ a fine 18" chain/pendant and other fine chains. Bar necklaces and a few months later, they're "out". Message jewelry? Big and then out. Heavy link bracelets, fine chain ones, tennis bracelets? Bangles next to watches? Now I think we're going through a more minimalist look. Small studs or hoop earrings, watch (some just see time on phone), maybe wedding set, but not rings on all fingers like just last season.

Consumers are confused and choosing not to purchase rather than have a drawer full of "has beens".

Re: Is QVC Getting Out Of The Jewelry Business?

lulu2 — Mon, 14 Aug 2017 16:08:25 GMT

There was a time I seldom went more than a week or two without buying some 14K gold jewelry from QVC. I could not wait for their monthly Once in a Lifetime shows. Their selection, quality and prices were outstanding.

Then, the price of gold sky rocket. Quality gold jewelry is expensive. People complain about the prices.

I doubt we will ever see much in the return of fine (what QVC called 14K & 18K) jewelry. Now everything is plating over silver (bridge jewelry) or costume jewelry.

Re: Is QVC Getting Out Of The Jewelry Business?

LyndaGee — Mon, 14 Aug 2017 18:55:43 GMT

It's a shame. I was first attracted to QVC because of the jewelry. I understand gold prices are out of their control. I sure miss the days when I could purchase beautiful pieces at low gram prices. And I learned a lot from their gemstone shows. They were interesting and informative.

Re: Is QVC Getting Out Of The Jewelry Business?

millieshops — Mon, 14 Aug 2017 19:31:45 GMT

@Trinity11I wasn't referencing Fortunoff. I never bothered to check out the new store because nothing advertised seemed to be less than 5 digits. For that price, what I buy better have 4 wheels.

Used to love a visit to their store, but it was so much more than just jewelry and probably wouldn't do all that much better than other department stores in today's environment.

Re: Is QVC Getting Out Of The Jewelry Business?

fortune — Mon, 14 Aug 2017 21:25:02 GMT

Here's how I check the current gold price:

http://goldprice.org/

Re: Is QVC Getting Out Of The Jewelry Business?

CalminHeart — Tue, 15 Aug 2017 12:51:07 GMT

If Q offered decent jewelry, I'll bet their jewelry sales would skyrocket. They offer the same old stuff, mostly costume. They need some new vendors and certainly a new gold buyer.