Columnists

On Data: How Independents Are Doing in December

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.jpg
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. 


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.
Sherry Smithis director of business development at Edge Retail Academy, the leading jewelry business consulting and data aggregation firm.

The Latest

Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Nephrite and Jadeite by Heinrich Fischer, Richard W. Hughes
SourcingMar 28, 2025
19th-Century Jade Book Now Available in English

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

Weekly QuizMar 27, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Richard Rainsford memorial ring
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

Austin Butler
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand Ambassador

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

ICA Congress Brazil 2025
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

Bailey’s Fine Jewelry storefront
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent Jeweler

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

Bulova 150 Art Deco Miss America Watch, 150 Art Deco Pocket Watch
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco Watches

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen
MajorsMar 26, 2025
QVC Group Appoints New President

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

Jewelers of America’s new logo
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

Christies regent kashmir sapphire and regal Burmese ruby
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat Ruby

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

Diamond earrings held in gloved hand
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft Recovered

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

Pomellato Nudo High Jewelry Campaign
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic Design

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Jamie Singleton, Bill Brace, Rebecca Wooters, Bill Luth
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid Turnaround

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

Sothebys Watchcheck
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair Services

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

Swarovski lab-grown diamond Galaxy earrings
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024

The company also noted record sales in the United States and a strong performance in its jewelry category.

Branko Gems
SourcingMar 21, 2025
BrankoGems To Hold Conference in Montana

The event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.

Til Death Ring by Marrow Fine
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ Ring

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

Korman Fine Jewelry Austin store
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

JCK Rocks 2025
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason Derulo

The rapper and singer-songwriter will perform at Tao Beach on June 8.

Conversations with Chris Ploof YouTube Video Series
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series

“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.

Limelight Lab Grown Diamond store in India
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond Sector

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Lab-grown diamond engagement ring
FinancialsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining Sales

The moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.

Zoë Kravitz in Rush Hour Collection
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office Wear

The “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy