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.
Editors' Picks
Sponsored by
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
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
