Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
ColumnistsDec 23, 2020
On Data: How Independents Are Doing in December
Sherry Smith breaks down gross sales, average retail sale and more for independent jewelers in the first 21 days of the month.
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 first 21 days of December show independent retailers are up 7 percent in gross sales over the same time period last year.
They’re down 9 percent in number of units sold, but the average retail sale is up nearly 18 percent over the same period in 2019.
Once again, the diamond category is outperforming overall sales.
Gross sales of diamonds are up 10 percent, and number of units sold is up 10 percent as well.
The average retail sale has increased 1 percent year-over-year while discounting has decreased 8 percent during this 21-day period.
Every month since June has shown an increase in gross sales, a decline in units and an increase in average retail sale. Gross margin has held steady at 46 percent.
The independent channel has made up most of the ground it lost due to COVID-19 shutdowns in April, May and part of June.
Overall performance shows gross sales are down about 3 percent, units are down 16 percent and the average retail sale is up 16 percent for the rolling 12 months ending Nov. 30; a remarkable recovery given the circumstances.
It appears that a strong December could see independent retailers finish the year flat for 2020, a welcome gift given the challenges COVID-19 placed on businesses.
Growth varied from region to region, with the Northeast taking the biggest hit.
Gross sales declined 8 percent, and units were down 23 percent.
However, gross margin was up slightly, and average retail sales rose 20 percent, the largest increase among all the regions for the same rolling 12 months ending Nov. 30.
The West Coast was like the Northeast, with a smaller decline in gross sales, 6 percent, and a 19 percent decline in units, but similarly, an increase in average retail sale of 16 percent and a 1 percent increase in gross margin.
The strongest performing region, the South, was up in three key performance areas: gross sales increased 1 percent, average retail sale climbed 16 percent and the region clocked a nearly 2 percent increase in gross margin.
The only decline was in number of units sold, down 13 percent.
The Midwest and Southeast were virtually flat in gross sales, both declined in units and gross margin, but shared the same 17 percent increase in average retail sale.
Consistent with trends all year, the diamond categories accounted for 46 percent of total gross sales for the rolling 12-month period ending Nov. 30.
They’re down 9 percent in number of units sold, but the average retail sale is up nearly 18 percent over the same period in 2019.
Once again, the diamond category is outperforming overall sales.
Gross sales of diamonds are up 10 percent, and number of units sold is up 10 percent as well.
The average retail sale has increased 1 percent year-over-year while discounting has decreased 8 percent during this 21-day period.
Every month since June has shown an increase in gross sales, a decline in units and an increase in average retail sale. Gross margin has held steady at 46 percent.
The independent channel has made up most of the ground it lost due to COVID-19 shutdowns in April, May and part of June.
Overall performance shows gross sales are down about 3 percent, units are down 16 percent and the average retail sale is up 16 percent for the rolling 12 months ending Nov. 30; a remarkable recovery given the circumstances.
It appears that a strong December could see independent retailers finish the year flat for 2020, a welcome gift given the challenges COVID-19 placed on businesses.
Growth varied from region to region, with the Northeast taking the biggest hit.
Gross sales declined 8 percent, and units were down 23 percent.
However, gross margin was up slightly, and average retail sales rose 20 percent, the largest increase among all the regions for the same rolling 12 months ending Nov. 30.
The West Coast was like the Northeast, with a smaller decline in gross sales, 6 percent, and a 19 percent decline in units, but similarly, an increase in average retail sale of 16 percent and a 1 percent increase in gross margin.
The strongest performing region, the South, was up in three key performance areas: gross sales increased 1 percent, average retail sale climbed 16 percent and the region clocked a nearly 2 percent increase in gross margin.
The only decline was in number of units sold, down 13 percent.
The Midwest and Southeast were virtually flat in gross sales, both declined in units and gross margin, but shared the same 17 percent increase in average retail sale.
Consistent with trends all year, the diamond categories accounted for 46 percent of total gross sales for the rolling 12-month period ending Nov. 30.
It should also be noted that this doesn’t include any diamond sales processed through retailers’ point-of-sale systems as custom.
The diamond categories were the only class that showed an increase in all key performance indicators.
Gross sales were flat with a very slight increase in units, bucking the overall trend of declining units. The category also gained approximately 1 percent in gross margin and had a decline of less than 1 percent in average retail sale.
The watch category also performed well, with a 1 percent increase in gross sales, and a nearly 3 percent increase in gross margin.
Despite a 16 percent decline in number of units sold, average retail sale increased 20 percent.
I, for one, am looking forward to seeing the results from the full calendar year as I believe the independent channel did a remarkable job quickly adapting to the most unusual and challenging year we have seen in a while.
Be well and stay safe, and bring on 2021.
The diamond categories were the only class that showed an increase in all key performance indicators.
Gross sales were flat with a very slight increase in units, bucking the overall trend of declining units. The category also gained approximately 1 percent in gross margin and had a decline of less than 1 percent in average retail sale.
The watch category also performed well, with a 1 percent increase in gross sales, and a nearly 3 percent increase in gross margin.
Despite a 16 percent decline in number of units sold, average retail sale increased 20 percent.
I, for one, am looking forward to seeing the results from the full calendar year as I believe the independent channel did a remarkable job quickly adapting to the most unusual and challenging year we have seen in a while.
Be well and stay safe, and bring on 2021.
More on Columnists
The Latest
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
Weekly QuizMay 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJun 04, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
SourcingJun 02, 2025
David Allouche Joins Grandview Klein DiamondsThe diamond industry veteran has been named its senior sales executive.
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
TechnologyMay 29, 2025
GemFind Launches AI Product Description SoftwareGemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.
MajorsMay 28, 2025
Graff Unveils New Las Vegas FlagshipThe 3,300-square foot location is the jeweler's largest store in North America.
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist TrialAging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic WinThe WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.
