Word: retailing
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Dates: during 1960-1969
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...Every week the surging U.S. economy packs a few more happy surprises and leaves some old records behind. Last week the Government reported important gains in retail sales, inventory buying and capital spending. While businessmen last February budgeted a 0% increase in capital spending for 1964, the Commerce Department reports that they now plan a 12% gain, to almost $44 billion. The benefits will be uneven; the U.S. economy is so varied that some regions of the country are clearly doing better than others. A comparison by regions...
...personal income ran from 4% to 5% higher in New Jersey, New York and Pennsylvania. These highly developed regions stand to fare better in the future. The Labor Department recently predicted that the fastest-growing businesses during the last half of the 1960s will be construction, electronics, publishing, trucking, retail and wholesale trade-precisely those sectors in which the Northeast is strongest...
Some doors are still shut. But such formerly "tight" fields as banking, brokerage, steel and the auto industry are opening wider. Negro recruits are increasingly welcome at airlines, retail stores and food, petroleum, aerospace and electrical-equipment companies...
...which markets 80% of the world's diamonds and sells only when, where, and to whom it deigns-announced that stocks were little more than half as high as a year ago. There have been two wholesale-price increases, totaling 15%, in the past 15 months. Jewelers' retail markups have remained at a princely 100%. On Manhattan's Fifth Avenue, a one-carat ring of high quality now retails for $1,600 to $1,700, up from $1,000 five years ago. Leading diamond dealers, not unmindful that talk of higher future prices will induce some would...
...spiral is that increasingly affluent Americans, who accounted for more than half of last year's sales, are calling for more and more diamonds. Four-fifths of the U.S. purchases are for engagement rings, the most popular type being stones of about one-half carat that retail for about $250. Styles are shifting: the pear shape and emerald cut are fading in popularity, but sales of the marquise and brilliant cut are sparkling. New York is the richest market (20% to 25% of all U.S. sales), followed by Chicago, Texas and Southern California. Surprisingly, many Americans order their diamonds...