ColumnistsDec 06, 2023
On Data: How Are Independents Doing So Far This Holiday Season? ColumnistsDec 13, 2023
On Data: Independent Jewelers Shine Bright in Early December
Sherry Smith dishes on bridal versus fashion diamond jewelry sales and the “unexpected heroes” of the first 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.
In my last column, I broke down the performance of independent jewelers in the month of November, including the last weekend of the month, the unofficial start to the holiday shopping season.
In this column, I will dissect the facets of the jewelry market’s early December performance, from a nuanced 2 percent boost in overall sales to the surge in custom creations.
During the first week of December, independent jewelers experienced a favorable trend, witnessing a notable 2 percent surge in overall gross sales and a substantial 4 percent increase in the average retail sale.
Despite a modest 2 percent dip in the number of units sold, the overall performance was evidence of independent jewelers’ continued resilience.
However, the broader diamond market (including both natural and lab-grown diamonds) witnessed an 8 percent decline in gross sales, primarily impacted by a significant setback in the bridal categories.
Specifically, gross sales fell 15 percent in the segment comprising loose diamonds, semi-mounts, completed diamond engagement rings, and wedding bands.
This decline was accompanied by a 4 percent drop in units sold and a noteworthy 12 percent decrease in the average retail sale.
Conversely, the diamond fashion sector remained relatively stable, with no change in gross sales and a marginal 2 percent decrease in units sold.
Notably, the average retail sale in this category demonstrated a positive trend, increasing by 2 percent.
Related stories will be right here …
In this column, I will dissect the facets of the jewelry market’s early December performance, from a nuanced 2 percent boost in overall sales to the surge in custom creations.
During the first week of December, independent jewelers experienced a favorable trend, witnessing a notable 2 percent surge in overall gross sales and a substantial 4 percent increase in the average retail sale.
Despite a modest 2 percent dip in the number of units sold, the overall performance was evidence of independent jewelers’ continued resilience.
However, the broader diamond market (including both natural and lab-grown diamonds) witnessed an 8 percent decline in gross sales, primarily impacted by a significant setback in the bridal categories.
Specifically, gross sales fell 15 percent in the segment comprising loose diamonds, semi-mounts, completed diamond engagement rings, and wedding bands.
This decline was accompanied by a 4 percent drop in units sold and a noteworthy 12 percent decrease in the average retail sale.
Conversely, the diamond fashion sector remained relatively stable, with no change in gross sales and a marginal 2 percent decrease in units sold.
Notably, the average retail sale in this category demonstrated a positive trend, increasing by 2 percent.
The colored stone and pearl categories experienced a slight downturn, with a slightly more than 1 percent decrease in gross sales and an 11 percent drop in units sold.
Despite these challenges, there was an encouraging 11 percent upturn in average retail sale.
In contrast, the sterling silver and alternative metals categories faced declines across key performance indicators, registering a 12 percent drop in gross sales, an 8 percent decrease in units sold, and a 4 percent decline in average retail sale.
The repair and custom jewelry segment, however, exhibited promising results, with a commendable 10 percent increase in gross sales, a 4 percent rise in units sold, and a 6 percent boost in the average retail sale.
A standout performer in the market was the watch category, showcasing an impressive 28 percent surge in gross sales and a remarkable 31 percent increase in the average retail sale.
Although units sold experienced a slight 2 percent decrease, the overall performance highlighted the strength and appeal of this particular segment.
Independent jewelers are navigating a diamond-shifting holiday season, with fashion, watches, and repair services shining brighter than ever.
While bridal dreams face a chill, these unexpected heroes are reminding us that holiday sparkle comes in many forms.
More on Columnists
The Latest
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
