AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
ColumnistsAug 04, 2020
On Data: Sales Show Continued Improvement in July
Following a “dismal” April and a “bleak” May, Sherry Smith notes that independent jewelers’ sales have warmed up recently, particularly in this one category.
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at sherry@edgeretailacademy.com.
By now most of our retailers have reopened for business, albeit with many restrictions and in an environment that is far removed from the pre-COVID-19 business climate.
While we have no idea when things will change, it is reasonable to assume retailers will continue to face challenges for the remainder of the year.
Despite the difficulties, we have seen retailers quickly adapt to circumstances beyond their control. They continue to be creative and to utilize less traditional methods to drive revenue.
Prior to COVID-19, our data showed retailers’ gross sales were up 6 percent in the 12 months ending February 2020 when compared to the same 12-month period from the previous year.
This was the last full month of pre-COVID-19 business.
By mid-March, numerous cities and states began implementing shelter-in-place mandates, forcing most retailers to close their doors.
What started out as a very strong March ended with a 33 percent decline in gross sales compared to March of 2019.
This was followed by a dismal April (gross sales down 39 percent) and a bleak May (gross sales down 50 percent).
While we have no idea when things will change, it is reasonable to assume retailers will continue to face challenges for the remainder of the year.
Despite the difficulties, we have seen retailers quickly adapt to circumstances beyond their control. They continue to be creative and to utilize less traditional methods to drive revenue.
Prior to COVID-19, our data showed retailers’ gross sales were up 6 percent in the 12 months ending February 2020 when compared to the same 12-month period from the previous year.
This was the last full month of pre-COVID-19 business.
By mid-March, numerous cities and states began implementing shelter-in-place mandates, forcing most retailers to close their doors.
What started out as a very strong March ended with a 33 percent decline in gross sales compared to March of 2019.
This was followed by a dismal April (gross sales down 39 percent) and a bleak May (gross sales down 50 percent).
RELATED CONTENT: A 5-Point Reopening Checklist
By June, however, retailers’ agility and willingness to adapt to the pandemic netted them a 2.3 percent increase in gross sales over June 2019.
July appears to be even better, as the 21-day period ending July 24 showed a 10 percent increase in gross sales.
The diamond categories specifically showed an impressive 16 percent increase in gross sales and a 19 percent increase in number of units sold.
More broadly, we are seeing a continuance of several trends through the pandemic.
Unit sales, which have been in decline for a few years, are now down double digits but gross sales continue to improve.
Shopping restrictions notwithstanding, it would seem there is a much more motivated customer out there. They are once again visiting retail jewelry stores with the intention of buying.
Finally, the data shows that the diamond categories are outperforming the market.
In June, units in the diamond categories were up 9.4 percent. And, as noted above, the diamond category performance month-to-date in July appears to be even stronger.
At the risk of stating the obvious, retailers should be reviewing not only their own data but also industry data more broadly to gauge performance and manage their businesses.
We should value our gut instinct and tap into our experience in running our businesses, yes, but using
July appears to be even better, as the 21-day period ending July 24 showed a 10 percent increase in gross sales.
The diamond categories specifically showed an impressive 16 percent increase in gross sales and a 19 percent increase in number of units sold.
More broadly, we are seeing a continuance of several trends through the pandemic.
Unit sales, which have been in decline for a few years, are now down double digits but gross sales continue to improve.
Shopping restrictions notwithstanding, it would seem there is a much more motivated customer out there. They are once again visiting retail jewelry stores with the intention of buying.
Finally, the data shows that the diamond categories are outperforming the market.
In June, units in the diamond categories were up 9.4 percent. And, as noted above, the diamond category performance month-to-date in July appears to be even stronger.
At the risk of stating the obvious, retailers should be reviewing not only their own data but also industry data more broadly to gauge performance and manage their businesses.
We should value our gut instinct and tap into our experience in running our businesses, yes, but using
data to support or challenge assumptions should also be a given.
It would be easy to look at the overall numbers and stress over the decline in units of sale while taking comfort that gross sales are up.
But knowing how to interpret the data and understanding how it can help you manage your business is essential.
When you take a deeper dive into the data, there are clear winners and, in this case, it’s your diamond categories, which make up approximately 50 percent of all annual jewelry sales.
Edge Pulse users can delve even more deeply into our $2 billion in aggregated jewelry sales from the independent channel and identify several other important key performance indicators.
First, they’ll notice that loose diamonds drive 10 percent of total annual gross profit dollars with an increase in year-over-year average retail sale.
Second, they’ll see that diamond bracelets and diamond necklaces are both showing increases in gross sales, as well as units sold, in the rolling 12 months ending June 2020.
They then could conduct a further analysis to determine the specific price points as well as the vendors with the best-selling SKUs in these categories from our industry’s aggregated data.
Knowing this information is critical to managing your business.
It can help identify potential missing categories, price points and bestsellers from your top-performing vendors. It can also give you a data-based metric to measure your business against an important industry benchmark.
As June and July show, there is great grit and resilience in retail jewelry stores.
Keep up the great work, and let us know if we can help.
It would be easy to look at the overall numbers and stress over the decline in units of sale while taking comfort that gross sales are up.
But knowing how to interpret the data and understanding how it can help you manage your business is essential.
When you take a deeper dive into the data, there are clear winners and, in this case, it’s your diamond categories, which make up approximately 50 percent of all annual jewelry sales.
Edge Pulse users can delve even more deeply into our $2 billion in aggregated jewelry sales from the independent channel and identify several other important key performance indicators.
First, they’ll notice that loose diamonds drive 10 percent of total annual gross profit dollars with an increase in year-over-year average retail sale.
Second, they’ll see that diamond bracelets and diamond necklaces are both showing increases in gross sales, as well as units sold, in the rolling 12 months ending June 2020.
They then could conduct a further analysis to determine the specific price points as well as the vendors with the best-selling SKUs in these categories from our industry’s aggregated data.
Knowing this information is critical to managing your business.
It can help identify potential missing categories, price points and bestsellers from your top-performing vendors. It can also give you a data-based metric to measure your business against an important industry benchmark.
As June and July show, there is great grit and resilience in retail jewelry stores.
Keep up the great work, and let us know if we can help.
More on Columnists
The Latest
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
Weekly QuizMay 28, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
GradingMay 28, 2026
GCAL By Sarine Launches 8X Cushion CutThe lab’s proprietary diamond cut grade has been expanded to include the popular fancy shape.
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
