FinancialsDec 16, 2021
NRF Ups Holiday Spending Forecast Despite Modest November SalesColumnistsDec 29, 2021
On Data: The Third Week of December
Sherry Smith shares independent jewelers’ sales figures for the third week of the month.
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at sherry@edgeretailacademy.com.
CNBC reports that visits to retail stores dropped 26.3 percent on Saturday, Dec. 18, compared with the Saturday before Christmas in 2019.
However, year-over-year store traffic jumped 19.4 percent.
Gross sales for our independent jewelry retailers rose 28 percent for the first 21 days of December 2021 compared with December of 2020. Units sold were up 9 percent and the average retail sale rose 17 percent.
The overall discount rate dropped from 23 percent down to 17 percent.
The diamond categories were up 30 percent in gross sales, up 16 percent in units sold, and the average retail sale rose11 percent. Discounting dropped from 27 percent down to 20 percent.
The colored stones and pearl categories were up 31 percent in gross sales, up 12 percent in units sold, and the average retail sale rose 16 percent. The discount rate dropped from 27 percent down to 18 percent.
Related stories will be right here …
Sterling silver and alternative metals were up 13 percent in gross sales and down 1.4 percent in units sold. The average retail sale was up 14 percent and the discount rate dropped from 19 percent down to 11 percent.
All in all, independent jewelers are continuing to do quite well.
Concerns around rising COVID-19 cases are starting to present mixed reviews on how retail will ultimately perform this holiday season. However, the National Retail Federation is standing behind their adjusted forecast of a very strong retail holiday sales.
Looking forward to sharing how our retailers performed in 2021.
In the meantime, Happy Holidays!
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