ColumnistsDec 13, 2023
On Data: Independent Jewelers Shine Bright in Early DecemberColumnistsDec 21, 2023
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.
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at sherry@edgeretailacademy.com.
The sparkle of the holiday season often illuminates trends within the jewelry market, particularly among our independent jewelers.
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.
Related stories will be right here …
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.
More on Columnists
The Latest
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities ManagerXavier Dibbrell brings more than a decade of experience to the role.
