On Data: Subdued Sales in the Second Week of December
Independent jewelers’ sales increased 1 percent from Dec. 7-14 and some interesting trends emerged, Sherry Smith writes.

This year, from Dec. 7 to 14, the glimmer was somewhat subdued, with just a 1 percent increase in overall gross sales.
However, behind this seemingly modest figure lies a captivating narrative of category performance, shifts in price points and evolving consumer preferences, all of which provide valuable insights into the market’s ever-changing landscape.
Traditionally, diamonds have long been synonymous with holiday sparkle, but this year, their brilliance shines a bit differently for independent jewelers.
From Dec. 7 to 14, a 3 percent decline in overall gross sales belies a fascinating tapestry of contrasting performances within the diamond category.
Bridal pieces, once guaranteed bestsellers, take a backseat, while diamond fashion jewelry takes center stage, prompting us to ask, what trends are shaping consumer desires and how are independent jewelers adapting?
While overall unit sales dipped 5 percent, the average retail sale climbed 6 percent, suggesting a possible strategic shift towards higher-value items.
Diamonds performed unevenly, with fashion jewelry sales rising 3 percent but bridal dragging down the category with a 10 percent decline.
While data remains somewhat limited, initial findings indicate a decline in the frequency of weddings and engagements in 2023 when contrasted with 2022.
This trend may be further influenced by the fact that contemporary couples, particularly millennial and Gen Z couples, increasingly are embracing alternative relationship models.
Many are opting for non-formalized engagement or marriage arrangements, prioritizing diverse life goals such as career advancement, travel, and personal growth, all of which take precedence over early matrimony.
Predicting a rebound to pre-pandemic engagement levels is tricky. While economic recovery and industry adaptation could spark a resurgence, evolving values and flexible relationship models may keep the numbers closer to current trends.
Colored stones and pearls faced headwinds, dropping 3 percent in gross sales and nearly 9 percent in units, although the average retail sale edged up 7 percent.
Sterling silver and alternative metals, traditionally popular holiday choices, stumbled with an 11 percent decline in both gross sales and units. However, the average retail sale inched up 5 percent, potentially reflecting the removal of lower price points.
Watches continue to shine this December, boasting an impressive 9 percent surge in gross sales and an impressive 15 percent uptick in average retail price, even in the face of a 5 percent decrease in units sold.
There were bright spots in the service categories as well, defying an 11 percent drop in units serviced with a commendable 3 percent rise in gross sales, primarily attributable to a remarkable 15 percent increase in average retail sale.
Overall, despite economic uncertainties, independent jewelers continue to demonstrate resilience and adaptability. The focus on higher-ticket items and diversification across categories holds promise for a strong finish to the holiday season and beyond.
As the independent jewelry market stands at a pivotal juncture, the decisions taken in this critical moment hold the power to shape its future.
Will the emphasis on premium items persist? Will diversification of product categories yield success? Only time will tell.
What remains undeniable is that independent jewelers, with their resilience and adaptability, are ready to craft the narrative that lies ahead.
The Latest

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.


However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

The company also noted record sales in the United States and a strong performance in its jewelry category.

The event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

The rapper and singer-songwriter will perform at Tao Beach on June 8.

“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

The moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.

The “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.