FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
IndependentsDec 10, 2019
On Data: How Independent Jewelers Are Faring This Year
In a new data-driven column, The Edge Retail Academy’s Sherry Smith breaks down the year so far for independent retailers.
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 retail model continues to evolve at an exponential rate.
Today, small is the new big, less is more and the word “omnichannel” has become passé.
This shifting retail landscape has left our independent jewelry retailers in search of the “next best thing” and vigorously seeking a competitive edge—better ways to reach customers, more efficient customer journeys and opportunities to proactively meet customer needs.
The role of data is more significant than ever, which is why The Edge Retail Academy is now working with National Jeweler to bring readers “On Data,” a regular column by yours truly that contains valuable information on what’s selling and what’s not.
In this first column, we’ll look at how independent jewelers are faring so far in 2019, as well as delve into the importance of data.
The Figures
The Edge Retail Academy’s aggregated data from more than 1,100 independent retailers show sales are up 1.7 percent rolling 12 months ending October 2019.
It might surprise independent retailers to know they’re outperforming the majors.
Tiffany reported comparable sales in the Americas decreased 4 percent in the third quarter and were down 5 percent in the first half.
Signet same-store sales were down 1.4 percent year-to-date at the end of the second quarter, though the massive retailer showed improvement in Q3 thanks its North American stores and online sales.
Historically, the diamond category has made up approximately 50 to 51 percent of annual jewelry sales, but in the month of October it slipped a bit, representing 45.5 percent.
The diamond category was up 11 percent in gross sales for the month of October and up 3 percent in average retail sale, which climbed from $2,213 to $2,379.
Why Numbers Matter
It’s all about the data.
In its 2018 study titled “How Analytics and Digital Will Drive Next Generation Retail Merchandising,” McKinsey stated: “Winning decisions are increasingly driven by analytics more than instinct, experience or merchant ‘art.’
“By leveraging smarter tools—those beyond backward-looking, ‘hind-sighting’ analysis—retailers can increasingly make forward-looking predictions that are quickly becoming the ‘table stakes’ necessary to keep up.”
Owners and buyers no longer need to rely solely, nor should they, on their instincts.
Independent retailers now have access to approximately $2 billion in annual jewelry sales data, thanks to Edge Pulse. Edge Pulse allows Edge users to log in from anywhere at any time to access their data as well as industry stats.
This big data means a greater understanding
Today, small is the new big, less is more and the word “omnichannel” has become passé.
This shifting retail landscape has left our independent jewelry retailers in search of the “next best thing” and vigorously seeking a competitive edge—better ways to reach customers, more efficient customer journeys and opportunities to proactively meet customer needs.
The role of data is more significant than ever, which is why The Edge Retail Academy is now working with National Jeweler to bring readers “On Data,” a regular column by yours truly that contains valuable information on what’s selling and what’s not.
In this first column, we’ll look at how independent jewelers are faring so far in 2019, as well as delve into the importance of data.
The Figures
The Edge Retail Academy’s aggregated data from more than 1,100 independent retailers show sales are up 1.7 percent rolling 12 months ending October 2019.
It might surprise independent retailers to know they’re outperforming the majors.
Tiffany reported comparable sales in the Americas decreased 4 percent in the third quarter and were down 5 percent in the first half.
Signet same-store sales were down 1.4 percent year-to-date at the end of the second quarter, though the massive retailer showed improvement in Q3 thanks its North American stores and online sales.
Historically, the diamond category has made up approximately 50 to 51 percent of annual jewelry sales, but in the month of October it slipped a bit, representing 45.5 percent.
The diamond category was up 11 percent in gross sales for the month of October and up 3 percent in average retail sale, which climbed from $2,213 to $2,379.
Why Numbers Matter
It’s all about the data.
In its 2018 study titled “How Analytics and Digital Will Drive Next Generation Retail Merchandising,” McKinsey stated: “Winning decisions are increasingly driven by analytics more than instinct, experience or merchant ‘art.’
“By leveraging smarter tools—those beyond backward-looking, ‘hind-sighting’ analysis—retailers can increasingly make forward-looking predictions that are quickly becoming the ‘table stakes’ necessary to keep up.”
Owners and buyers no longer need to rely solely, nor should they, on their instincts.
Independent retailers now have access to approximately $2 billion in annual jewelry sales data, thanks to Edge Pulse. Edge Pulse allows Edge users to log in from anywhere at any time to access their data as well as industry stats.
This big data means a greater understanding
of patterns, trends and consumer shopping habits.
It is easy to now ascertain the top-performing categories or how a given vendor is trending.
A retailer can benchmark their performance against the aggregated industry performance and trends.
They can also quickly determine if they are missing best sellers from the very vendors with whom they’re currently doing business.
According to a recent study conducted by IBM’s Institute for Business Value, 62 percent of retailers report the use of information, including big data, and analytics are creating a competitive advantage for their organizations.
Knowing where you stand relative to other retailers, while not a game changer in and of itself, is a useful benchmark.
Understanding market trends, pricing and category performance is the best complement to your instincts and experience.
Your daily and weekly routine should include a review of your data, as well as real-time aggregated data, to make more informed and intelligent business decisions.
These insights will enable you to better understand which products or services are in demand and, quite frankly, help you to manage your business more efficiently.
We’ve come off a great month in October. Let’s build on that momentum with relevant and useful data.
Have a great holiday season!
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. Her 30 years in the jewelry industry includes 20 as principal partner in two jewelry stores. As director of business development, Smith works with wholesalers, brands and retail stores on business mentoring and data analysis and aggregation. She can be reached at sherry@edgeretailacademy.com.
It is easy to now ascertain the top-performing categories or how a given vendor is trending.
A retailer can benchmark their performance against the aggregated industry performance and trends.
They can also quickly determine if they are missing best sellers from the very vendors with whom they’re currently doing business.
According to a recent study conducted by IBM’s Institute for Business Value, 62 percent of retailers report the use of information, including big data, and analytics are creating a competitive advantage for their organizations.
Knowing where you stand relative to other retailers, while not a game changer in and of itself, is a useful benchmark.
Understanding market trends, pricing and category performance is the best complement to your instincts and experience.
Your daily and weekly routine should include a review of your data, as well as real-time aggregated data, to make more informed and intelligent business decisions.
These insights will enable you to better understand which products or services are in demand and, quite frankly, help you to manage your business more efficiently.
We’ve come off a great month in October. Let’s build on that momentum with relevant and useful data.
Have a great holiday season!
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. Her 30 years in the jewelry industry includes 20 as principal partner in two jewelry stores. As director of business development, Smith works with wholesalers, brands and retail stores on business mentoring and data analysis and aggregation. She can be reached at sherry@edgeretailacademy.com.
More on Independents
The Latest
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
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.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
