SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
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
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
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.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
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.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 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.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
