Jewellery sales in December maintained a steady uptrend based on previous forecasts as overall sales dollars saw an increase by 1.8 per cent compared with the same period in 2020 despite a decline in diamond jewellery sales, according to Retail Edge Consultant’s month-end report.
Diamond precious metal jewellery became the sole outlier for December sales, which decreased by 8 per cent, compared with 2020 but still maintained a significant positive two-year difference (December 2019) at 38 per cent.
The sale of comparative units declined by 5 per cent when measured against December 2020, however, there was a 3.9 per cent increase when compared with December 2019.
According to Mike Dyer, sales manager, Retail Edge “As was stated in the November Vibe [member update], the indicators pointed to a stellar performance for jewellery retail in December and that’s what happened.”
Nonetheless, “there was good growth across most of the product categories,” he noted, explaining that the figures “indicate a strong consumer focus on buying something of significance that can be treasured and enjoyed.”
Comparative average sales based on inventory continued to increase by 8 per cent from $161 to $174 compared with December 2020, while it significantly went up by 26 per cent from the December 2019 figure of $138.
Sales dollars for colour stone precious metal jewellery was up by 23 per cent compared with 2020 and a significant two-year difference at 34 per cent.
The same trend was seen for non-stone precious metal jewellery, which increased by 9 per cent compared with December 2020, and a significant two-year difference at 59 per cent.
Sales of silver and alternative metal jewellery also increased by 13 per cent when compared with December 2020 and a much significant rise at 41 per cent based on a two-year (December 2019) difference.
As expected during the holiday seasons, sales dollars for laybys saw a decline by 18 per cent as the pieces are claimed or collected, to be given as gifts.
Similarly, revenue for services declined by 43.9 per cent and special orders also followed suit by dropping at 21.4 per cent.
“Now would be a great time to review your items that were short delivered (or back-ordered) prior to Christmas to make sure that you don’t receive multiples of items that you may not require now that Christmas has passed,” he added.
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 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.
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