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
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
