On Data: What We Know About Jewelry Sales So Far This Year
Sherry Smith digs into year-to-date data on lab-grown vs. natural diamonds, the performance of colored gemstone jewelry, and more.

So, what does our data show about sales momentum in jewelry? Let’s take a look at the numbers and see.
Year-to-date numbers for January through July show independent jewelers up 5.8 percent in gross sales when compared with the same period in 2021.
It is worth considering the extent to which increasing prices accounted for that growth, especially in light of year-to-date unit performance.
Number of units sold is down 4.5 percent, while the average retail sale has climbed 10.7 percent.
Overall gross margin continues to increase year-over-year, driving a strong increase of 8.1 percent in gross profit dollars. The better margins retailers make on lab-grown diamonds might be a factor in that increase.
Now, let’s break it down by category, starting with diamonds.
In July, gross sales of loose diamonds (natural and lab-grown) declined a whopping 22 percent while units sold dropped 20 percent. The average retail sale was down as well.
It may be premature to signal a shift from natural to lab-grown, but the data comparisons bear watching.
Diamond semi-mounts and diamond engagement rings also saw a decline in gross sales in July, 18 percent and 16 percent, respectively, likely reflecting a decrease in foot traffic into stores.
With respect to lab-grown diamonds specifically, our year-to-date data (January through June; data on lab-grown for July was not yet available) shows lab-grown loose is now 7 percent of total retail loose sales, an increase from 5.3 percent over the same period in 2021.
Lab-grown loose increased 46 percent in gross sales when compared with the same year-to-date period in 2021 and units sold grew 42 percent despite the likelihood of more challenging foot traffic into stores.
We’ve heard lots of questions about the average retail sale of lab-grown loose diamonds. Our year-to-date data (again, through June) of the independent channel shows the overall average retail sale grew by 6 percent.
When we delve into the data, it shows there were decreases in average retail sale in many sizes. However, larger lab-grown diamonds showed significant increases in most of the key performance indicators.
The 3.25- to 3.50-carat range showed a 194 percent increase in gross sales, a 114 percent increase in units sold, and a 25 percent increase in average retail sale, suggesting some customers might be trading up in size from smaller natural diamonds.
The 4.5- to 5-carat range recorded a spike of 582 percent in gross sales, 414 percent in units sold, and 33 percent in average retail sale, and the 5.5- to 6-carat range showed a 78 percent increase in gross sales, a 67 percent increase in units sold, and a 7 percent increase in average retail sale.
The data for lab-grown diamonds 6 carats and above show increase in gross sales and units sold as well as in the average retail sale.
I should also note that smaller lab-grown loose (under 0.60 carats) also grew in average retail sale.
It was the 0.60-carat to 3.25-carat range that showed decreases in the average retail sale, with declines ranging from 5 percent to 21 percent.
As sales for lab-grown loose continue to grow, so do inventory levels, which show a 109 percent increase in cost and a 79 percent increase in units in our year-to-date data.
Overall gross margin for lab-grown loose comes in at a very healthy 62 percent, up from 60 in the previous year-to-date data.
Although colored stone and pearl jewelry only make up about 8 percent of annual jewelry sales, a few categories showed slight increases this July.
Colored stone necklaces showed a 7 percent increase in gross sales and a 20 percent increase in average retail sale but an 11 percent decline in units sold, likely reflecting the aforementioned decrease in foot traffic into retail stores.
Colored stone pendants showed a 4.1 percent increase in gross sales and a 24 percent increase in average retail sale but, again, a 16 percent decline in units sold.
Pearl bracelets showed a 21 percent increase in gross sales, a 22 percent increase in average retail sale, and were flat in units sold.
Watches showed a 1.7 percent increase in gross sales and a 19 percent increase in average retail sale but a double-digit decline in units sold at 14 percent.
Precious metal jewelry without stones declined 7 percent in gross sales and 12 percent in units sold but increased 6 percent in average retail sale.
Precious metal bracelets were the one standout, recording an 11 percent increase in gross sales, a 13 percent increase in average retail sale, and only a slight decline of 1.3 percent in units sold.
All told, growth in overall sales reflects a healthy sales environment for retailers, although a decline in unit sales might signal a marked decline in foot traffic. In addition, year-to-date growth might have some price increases built in, so that is worth watching as prices stabilize.
Gross margin improvements might reflect retailers taking some extra profit on older owned inventory, as well as increased sales of lab-grown diamonds, as mentioned above.
The performance of natural diamonds and semi-mounts may reflect the assumed declines in foot traffic and the continued momentum of lab-grown diamond sales, which showed strength in larger sizes and stones under 0.60 carats.
The Latest

Sponsored by the Gemological Institute of America

Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

The risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.

The company failed to file its quarterly reports in a timely manner.


The organization also announced its board of directors.

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

Industry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
The two organizations will hold the educational event together this fall in Mississippi.

The entrepreneur and “Shark Tank” star will share his top tips for success.

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.

Interior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.

During a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.

The free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.