ColumnistsNov 23, 2021
When Did You Know You Wanted To Be in Sales?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 sherry@edgeretailacademy.com.
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 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.
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.
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.
More on Columnists
The Latest
Events & AwardsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
SourcingMar 24, 2026
AGTA Solidifies Tucson Dates For 2027-2029The next three editions of AGTA GemFair Tucson will feature a five-day show that includes Sunday.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery SuspectsThe group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.
FinancialsMar 23, 2026
Movado’s Q4 Sales Rise As Demand Grows From Younger Shoppers, WomenMovado CEO Efraim Grinberg noted continued strength in the fashion watch and accessible luxury segments in the U.S.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
