Consumer demand for jewellery seen to drive strong December trading



Jewellery sales continue to show a strong rebound based on the latest Retail Edge report for 1 to 30 November, with hopes of a ‘stellar’ December trading due to increasing consumer demand.

Overall sales dollars increased by 12 per cent compared with November 2020 and 36 per cent over the same period in 2019, while comparative units sold increased by 1.9 per cent from last year and a higher increase of 13 per cent versus 2019.

According to Mike Dyer, sales manager, Retail Edge the figures are “very positive indicators of consumer confidence”.

A strong increase of 11 per cent was also seen in comparative average sales based on inventory from $173 to $193 compared with last year’s figures and a significant increase of more than 21 per cent when measured against November 2019.

“There was good growth across all product categories. The drill down into the Sales Dollars numbers showing diamond-set, precious metal jewellery was up a strong 28 per cent compared to November 2020 and a huge 50 per cent on the two year difference on November 2019,” Dyer said.

He noted that strong sales performance for diamond jewellery was a significant factor in driving the average sale for the month, as shown in the increase of sales dollars for colour diamond-set metal jewellery. It achieved more than 15 per cent increase compared with November last year and more than 20 per cent for 2019.

Sales dollars for non-stone precious jewellery increased by more than 15 per cent from last year and almost doubled from 2019 with an increase of more than 42 per cent.

Silver and alternative metal jewellery sales dollars also increased by more than 21 per cent compared with last year and a significantly higher increase of more than 42 per cent over the same period in 2019.

A similar positive trend was also seen in lay-bys where it reported an increase of more than 35 per cent for new orders and pickups or cancellations, while services remained steady indicating that items on repair status are current.

“All these numbers point to a strong consumer focus and demand for jewellery. Fantastic timing with Christmas just a few short weeks away! The scene is all set for you to have the trading result that you need, or deserve. The consumers are ready.”

“Numbers in the special orders [customised design] show an increase in dollars of more than 37 per cent. Some of this may be custom-makes. Some of this may be special orders of stock models and some of this may point to ‘gaps’ in your stock range,” Dyer said.

He offered some specific advice for store managers: “You really need to look closely at these special orders to see which of the above they are. You don’t want to be depending on special orders of stock as a major factor in achieving your Christmas targets”.

Retail Edge’s data is gathered from its POS software across more than 400 Australian independent retail jewellery stores. It is intended to present a representative sample of the wider jewellery industry.

 

2021 Jewellery Retail Sales November 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
Jewellery and luxury goods sales on rebound; will exceed pre-COVID levels
Jewellery sales slump as lockdowns continue; Christmas ‘rebound’ predicted





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