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Retail Edge has released its analysis of the performance of the Australian jewellery market in December, noting a modest climb in sales.
Retail Edge’s data is collected from POS software located in more than 400 independent jewellery stores.
In December comparative overall sales dollars were steady on a year-by-year comparison with 2021, improving by 0.6 per cent, and climbing by 3 per cent compared with 2020.
Comparative units sold demonstrated a decrease of 0.2 per cent compared with 2021 and a 6 per cent decline compared with 2020.
The most positive figures were the comparative average sale (in inventory only) rising 10 per cent on a two-year comparison ($179 from $162). That figure rose 1.6 per cent relative to 2021.
Retail Edge sales manager Mike Dyer said that as always context was important.
“Well 2022 is done and dusted and whilst the tree may be put away, some of the tinsel still seems to be able to hang around for days afterwards,” he said. “I view these results as very positive given that the previous two Decembers included momentum from coming out of lockdown periods.
Dyer continued: “The drill down into the sales dollars numbers shows diamond-set precious metal jewellery was down 8 per cent compared to December 2021 and was down 16 per cent on the two-year difference to December 2020.”
Gemstone-set precious metal jewellery sales were largely unchanged compared with 2021, however, a 28 per cent rise was noted in the two-year comparison.
Precious metal jewellery sales rose 9 per cent on a two-year comparison, and silver and alternative metal jewellery sales dollars rose 10 per cent by the same metric.
Special order numbers decreased by 52 per cent in dollar values between new orders and pickups and cancellations.
“This pattern is also expected although the difference is large,” Dyer said.
“If this pattern is reflected in your data it would be valuable to see what the special order items were to understand whether they were sizes and colours not normally stocked, or it was driven by consumer demand for items that you don’t carry.”
Layaways (laybys) showed a decrease of 20 per cent in dollars between new orders and pickups and/or cancellations.
The pattern in services (repairs) echoed this pattern with a decrease of 46 per cent in dollar values between new (incoming) and pickups and/or cancellations. Both of these findings are typical for December.
2022 Jewellery Retail Sales December Results
Charts published with permission courtesy of Retail Edge
The charts below are based on data collected via Retail Edge POS software
at more than 400 independent Australian jewellery stores.
More reading
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January jewellery sales shows interesting trends
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