Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
ColumnistsMar 17, 2020
On Data: A Closer Look at Loose Diamonds
Sherry Smith looks at sales and gross margins on loose diamonds in her latest deep-dive into industry data.
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at sherry@edgeretailacademy.com.
Hello, I hope this finds you staying well, both physically and mentally, amid all the uncertainty surrounding the spread of COVID-19.
In this month’s column, we’re going to examine the performance of independent jewelers in the 12-month rolling period ended Jan. 30, and then dive into their performance in a category that’s become more challenging in recent years—loose diamonds.
Overall, jewelers showed an increase of 4.8 percent in gross sales year-over-year. This follows a strong January 2019, which had an 11 percent increase in gross sales.
Gross profit dollars were also up, climbing 4.8 percent.
The number of units sold slipped 5 percent, while gross margin held steady at 46.1 percent and the average retail sale grew 10 percent, from $304 to $335.
Meanwhile, loose diamonds showed a 2.1 percent increase in gross sales, a 2 percent increase in gross profit dollars and a 4.9 percent increase in average retail sale in the 12-month rolling period.
Of the $2 billion in total aggregated sales data from the independent channel collected by The Edge Retail Academy, the loose diamond category represents 13 percent of total revenues and 10 percent of total annual gross profit dollars.
This makes loose diamonds the single most important category for independents.
I’ve saved the best on loose diamonds for last—the gross margin. This is such a hot topic and, no doubt, I am opening Pandora’s box by mentioning it.
I must admit, it is very interesting to see retailers’ and vendors’ reactions to the actual gross margin being achieved.
Vendors tend to be surprised by how low the actual gross margin is, while retailers are surprised that retailers are getting that high of a margin. It’s all about perspective.
Let’s break down loose diamond gross margin by region: Midwest – 38.8 percent; Northeast – 32.7 percent; South – 37 percent; Southeast – 35.9 percent; and the West – 38 percent.
It’s not surprising to see the Midwest with the highest gross margin, given that the region tends to be more rural, just as it’s not a shock to see the Northeast, where it’s more densely populated and there is more competition, with the lowest.
Nonetheless, there are lots of contributing factors to the gross margin of loose diamonds: attempting to match online pricing, selling loose as a commodity, removing the emotional part of the purchase, the entry of lab-grown diamonds into the market in larger quantities, etc.
In this month’s column, we’re going to examine the performance of independent jewelers in the 12-month rolling period ended Jan. 30, and then dive into their performance in a category that’s become more challenging in recent years—loose diamonds.
Overall, jewelers showed an increase of 4.8 percent in gross sales year-over-year. This follows a strong January 2019, which had an 11 percent increase in gross sales.
Gross profit dollars were also up, climbing 4.8 percent.
The number of units sold slipped 5 percent, while gross margin held steady at 46.1 percent and the average retail sale grew 10 percent, from $304 to $335.
Meanwhile, loose diamonds showed a 2.1 percent increase in gross sales, a 2 percent increase in gross profit dollars and a 4.9 percent increase in average retail sale in the 12-month rolling period.
Of the $2 billion in total aggregated sales data from the independent channel collected by The Edge Retail Academy, the loose diamond category represents 13 percent of total revenues and 10 percent of total annual gross profit dollars.
This makes loose diamonds the single most important category for independents.
I’ve saved the best on loose diamonds for last—the gross margin. This is such a hot topic and, no doubt, I am opening Pandora’s box by mentioning it.
I must admit, it is very interesting to see retailers’ and vendors’ reactions to the actual gross margin being achieved.
Vendors tend to be surprised by how low the actual gross margin is, while retailers are surprised that retailers are getting that high of a margin. It’s all about perspective.
Let’s break down loose diamond gross margin by region: Midwest – 38.8 percent; Northeast – 32.7 percent; South – 37 percent; Southeast – 35.9 percent; and the West – 38 percent.
It’s not surprising to see the Midwest with the highest gross margin, given that the region tends to be more rural, just as it’s not a shock to see the Northeast, where it’s more densely populated and there is more competition, with the lowest.
Nonetheless, there are lots of contributing factors to the gross margin of loose diamonds: attempting to match online pricing, selling loose as a commodity, removing the emotional part of the purchase, the entry of lab-grown diamonds into the market in larger quantities, etc.
Editors' Picks
Sponsored by
In any case, it’s worth noting that most research continues to show it’s all about the experience.
After all, the purchase of a loose diamonds is, in most cases, made to mark a momentous occasion in customers’ lives that should be celebrated.
After all, the purchase of a loose diamonds is, in most cases, made to mark a momentous occasion in customers’ lives that should be celebrated.
More on Columnists
The Latest
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
