Sales at Australian independent jewellery stores experienced a slight decline in October as retailers continued to prepare for the all-important holiday season.
According to the latest analysis from Retail Edge Consultants, sales decreased by a marginal 0.2 per cent in October on a year-by-year comparison.
Unit sales increased by 0.7 per cent by the same metric, with the average retail sale (inventory only) recorded at $251.
This follows a modest decrease in both September and August.
Sales of diamond jewellery decreased by five per cent on a year-by-year comparison and 22 per cent compared with October 2022.
Colour gemstone jewellery sales experienced a significant drop, declining by 24 per cent on a one-year comparison and 23 per cent on a two-year comparison.
The change in silver and alternative metal jewellery was modest, declining by 1.8 per cent compared with October 2023.
Sales of precious metal jewellery without a diamond or gemstone declined by 2 per cent on a one-year comparison and 11 per cent on a two-year comparison.
Analysis of laybys revealed a modest increase in dollar terms between new orders and pickups and/or cancellations. Special orders were similar, with an improvement recorded compared with October 2023.
Services, such as repairs, decreased significantly between new orders and pickups and/or cancellations.Â
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2024 Jewellery Retail Sales October 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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