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
Policies & IssuesOct 07, 2026
The Plumb Club Amplifies Its Voice as Geopolitical Pressures MountThe supplier organization recently joined JA and JVC to have more input on political issues affecting the jewelry industry.
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 07, 2026
Empire Safe & Vault Promotes Juan Morales to CEOAs part of the transition, Joseph Nicosia has stepped into the role of COO.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
