On Data: Jewelry Sales Soared in November

ColumnistsDec 07, 2021

On Data: Jewelry Sales Soared in November

All categories showed strength, but diamonds led the way, Sherry Smith writes in her latest column.

Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at
According to a recent PwC survey, 40 percent of respondents said the pandemic would not affect their spending this holiday season and 30 percent said they will likely spend, on average, 48 percent more than they did last year.

The survey also indicated consumers plan to treat themselves this year after feeling deprived during the 2020 holiday season.

The National Retail Federation, meanwhile, predicts the highest holiday retail sales on record, while Deloitte forecasts November to January retail sales to climb 7-9 percent.

For independent jewelers, these bullish forecasts are almost certain to prove true. 

Based on our aggregated data of $3 billion, November showed a 38 percent increase in gross sales compared with the same period last year. 

The average retail sale climbed 19 percent for the month and the discount rate dropped 6 percent, from 24 percent to 18 percent.

Loose diamonds made up 15 percent of gross sales in November and had a 9 percent increase in average retail sale.

Diamond earrings were a standout as well, showing an increase of 62 percent in gross sales and 21 percent in average retail sale.

For the 12-month period of Nov. 1, 2020 through Oct. 31, 2021, retail jewelers’ gross sales grew 36 percent and unit sales grew 19 percent. 

Average retail sale was up 15 percent and gross margin improved by 1.9 percent. There was also an increase of 39 percent in gross profit dollars when compared with the same period last year.

 Related stories will be right here … 

The year-to-date results for retail jewelers show even more promise.

Data for January through October 2021 shows gross sales up 46 percent, units sold up 27 percent, average retail sale up 15 percent, gross margins up 2.5 percent, and gross profit dollars up 50 percent.

The West and Northeast regions show the strongest increases in gross sales, 56 and 50 percent respectively, although all regions showed growth of at least 43 percent in gross sales year-to-date.

Not surprisingly, the diamond categories represented approximately 49 percent of the aggregated gross sales. (Note this data does not include diamond products processed through the POS as custom sales.)

Diamond necklaces showed the strongest growth with a 78 percent increase in gross sales, followed closely by diamond bracelets (73 percent) and diamond earrings (66 percent).

Overall year-to-date, the diamond categories are up 49 percent in gross sales, 37 percent in units sold, 8 percent in average retail sale, 2.7 percent in gross margin and 53 percent in gross profit.

Loose diamonds made up 30 percent of all diamond sales, followed by diamond engagement rings at 15 percent and diamond wedding bands at 14 percent.

Again, the West region had the strongest performance with a 57 percent increase in gross sales of diamond categories overall, followed by the Southeast at 52 percent.
While sterling silver jewelry has been in decline for a few years, it too experienced a 35 percent increase in overall gross sales, a 25 percent increase in units sold, a 2.5 percent increase in gross margin, and an 8 percent increase in average retail sale. 

The colored stones/pearl categories grew 59 percent in gross sales, 34 percent in units sold, 2.6 percent in gross margin and 18 percent in average retail sale.

Colored stone rings made up 39 percent of gross sales of the colored stone/pearl categories followed by colored stone earrings at 13 percent.

Watches continue to do well in our year-to-date aggregate showing a 38 percent increase in gross sales, a 30 percent increase in units sold, a 2.1 percent in gross margin, and a 6 percent increase in average retail sale.

Many retailers had expressed concerns over what the holiday season might bring, given that we are still in the midst of a pandemic and dealing with potential supply chain issues. 

However, sales continue to be strong, even with a new COVID-19 variant, Omicron, beginning to spread in the U.S.

In general, consumers are feeling optimistic about their holiday spending and everything points to a bountiful holiday season for retailers, record-breaking even for some, such as our independent jewelers.

Sherry Smithis director of business development for data and consulting company The Edge Retail Academy.

The Latest

AuctionsMar 21, 2023
Marlene Dietrich’s Van Cleef & Arpels Bracelet Going Up for Auction

Expected to earn up to $4.5 million, the “Jarretière” bracelet is the star of Christie’s “The Magnificent Jewels of Anne Eisenhower” sale.

Events & AwardsMar 21, 2023
ASJRA’s May Conference Examines ‘Iconic’ Jewelry Companies

Jewelry historians, authors, and experts will explore the works of Tiffany & Co., Oscar Heyman, Verdura, and more.

IndependentsMar 21, 2023
Borsheims Executive Jennifer Johnson Retires

Johnson joined the retailer in 1987, establishing its first human resources department.

Brought to you by
Full Disclosure at Your Fingertips

Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.

Recorded WebinarsMar 20, 2023
Watch: Lab Grown Diamonds: What's Now? What's New? What's Next?

Supplier Spotlight Presented by IGI

Weekly QuizMar 17, 2023
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Events & AwardsMar 20, 2023
Gem Awards Shine Spotlight on Design, Dedication, and Family

The industry gathered to celebrate those who elevate the jewelry and watch industries.

CrimeMar 20, 2023
Jewelry Crime Reached Record Level in 2022, JSA Says

At JSA’s annual luncheon, President John J. Kennedy said the organization recorded more than 2,000 cases last year.

Brought to you by
Bringing Over 130 Years of Diamond Expertise to Modern Grading

De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.

CollectionsMar 20, 2023
A New Book on Chanel Is a High Jewelry Lover’s Dream

It highlights Gabrielle “Coco” Chanel’s lasting influence on modern design.

Recorded WebinarsMar 17, 2023
Watch: Lessons From Gems

Jewelers of America’s Amanda Gizzi explores the qualities and accomplishments that make this year’s Gem Award nominees shine.

Events & AwardsMar 17, 2023
JCK Industry Fund Announces Grant Recipients

Here’s what the nine chosen organizations plan to do with the funds.

TrendsMar 17, 2023
Piece of the Week: Anita Ko’s Award-Ready Earrings

The designer is nominated for a Gem Award for Jewelry Design.

FinancialsMar 16, 2023
Winter Weather, Declining Engagements Weigh on Signet’s Results

The jewelry giant’s full-year sales were essentially flat, brought down by fourth-quarter declines.

FinancialsMar 16, 2023
Brilliant Earth Took a Record Number of Orders in 2022

In its recent results, the company highlighted non-bridal jewelry sales and said its “inventory-light” showroom model may change.

Events & AwardsMar 16, 2023
Amanda’s Style File: Sparkling Gems

See 15 fabulous pieces from the 2023 Gem Award for Jewelry Design nominees: Anita Ko, Kirsty Stone, and Ron Anderson and David Rees.

WatchesMar 16, 2023
Citizen’s New Eco-Drive Watches Run for a Full Year

The new Cal. E365 movement doubles the running time of the current Eco-Drive models.

SourcingMar 15, 2023
Amid Uncertainties, India’s Diamond Industry Continues to Adjust

The mood among diamantaires is fairly optimistic despite the challenges brought about by sanctions and a cloudy economic outlook.

Lab-GrownMar 15, 2023
India’s Lab-Grown Diamond Industry Is Growing Up

The mood is bullish as more companies get into the business despite the dramatic drop in lab-grown diamond prices.

SourcingMar 15, 2023
Q&A: GJEPC Chairman Vipul Shah

Shah talks with National Jeweler about diamond demand, lab-grown, and why it’s difficult to make predictions about the U.S. market.

Policies & IssuesMar 15, 2023
When Diamonds Replenish the Earth

Hari Krishna Exports and the Dholakia Foundation’s “Mission 100 Sarovar” aims to create 100 lakes to help revive an area of Gujarat.

TechnologyMar 15, 2023
Sarine’s New Website Schools Consumers on Traceability

The educational resource will highlight the positive impact diamonds can make on their journey from mine to market.

SourcingMar 15, 2023
Canada’s Ekati Diamond Mine to Get a New Owner

Australian mining company Burgundy Diamond Mines announced plans to buy the mine in a deal valued at $136 million.

AuctionsMar 15, 2023
Antique Rings Discovered by Retirees Perform Well at Auction

A 17th-century gold seal ring and an 18th-century memento mori ring met or exceeded estimates at a recent Noonans auction.

Events & AwardsMar 15, 2023
JSA Announces Award Recipients

They will be recognized at the organization’s annual luncheon this weekend in New York City.

MajorsMar 14, 2023
Dutch Historian Discovers Medieval Jewels

The 1,000-year-old find is now on display in the Dutch National Museum of Antiquities.

Events & AwardsMar 14, 2023
GemGenève Is Gearing Up for Its Biggest Show Yet

More than 200 exhibitors are scheduled for the May 11-14 event.

SourcingMar 14, 2023
Bonas Group’s Jimmy Gove Joins Opsydia

Gove, who has more than a decade of experience in the diamond industry, is Opsydia’s new sales and marketing director.


This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy