GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
ColumnistsFeb 23, 2021
On Data: All About Valentine’s Day Jewelry Sales
V-Day was sweet for jewelers this year, and it has independent jewelers off to a strong start in 2021.
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. She can be reached at sherry@edgeretailacademy.com.
In more normal times, Valentine’s Day offers those who celebrate many possibilities to do so, such as candlelight dinners, special shows, weekends away, and other romantic options.
Lest anyone needs reminding, we are not living in normal times and many of those options were not available this year.
According to marketing company Statista, the most popular Valentine’s Day option last year was dinner out. Jewelry finished a distant 11th as the go-to gift option.
How things have changed in 2021.
According to Statista, jewelry ranked as the No. 3 option for Valentine’s Day gifting this year. For context, candy and flowers were the top two choices.
Driven by that consumer demand, fine jewelry sales for the period Feb. 1–14, 2021 showed an impressive 15 percent increase versus the previous year.
While unit sales continued their downward trend, average ticket prices showed a robust 20 percent increase versus same period in 2020.
The diamond categories continued to lead with a 17 percent increase in sales, a 16 percent increase in number of units sold, and a 2.3 percent increase in average retail sales for the period through Feb. 14.
The colored stone and pearl categories were also up in all key performance indicators.
Preceding the first two weeks of February was a strong January that showed an 11 percent increase in gross sales versus January of 2020.
On the strength of an outstanding year in 2020, where retailers recovered to within 0.05 percent of their 2019 results, the January and mid-month February performance suggest a near-term positive continuation for retail jewelers.
That’s an impressive development given the challenges retailers continue to grapple with, including lockdowns, shortened hours and, in many cases, furloughs and/or layoffs of personnel.
RELATED CONTENT: Watch—A Webinar on 2021 Predictions
Although fewer units were sold in 2020 (down 15 percent compared to 2019), the average retail ticket grew a whopping 17 percent on the back of the shift to diamond jewelry and loose diamonds, with gross margins improving by 1 percent.
Loose diamonds led the charge with 14 percent of annual sales for 2020, and they showed improvement in all key performance indicators.
Diamond engagement rings and diamond wedding bands were the next two best-performing categories for 2020, with increases of 2.3 percent and 3.3 percent in gross sales, respectively.
Overall, the diamond categories performed very well, representing about 47 percent of annual sales (this number doesn’t include diamond categories processed through point of sale as custom) in 2020, with an overall increase of 2.4 percent in gross sales.
Lest anyone needs reminding, we are not living in normal times and many of those options were not available this year.
According to marketing company Statista, the most popular Valentine’s Day option last year was dinner out. Jewelry finished a distant 11th as the go-to gift option.
How things have changed in 2021.
According to Statista, jewelry ranked as the No. 3 option for Valentine’s Day gifting this year. For context, candy and flowers were the top two choices.
Driven by that consumer demand, fine jewelry sales for the period Feb. 1–14, 2021 showed an impressive 15 percent increase versus the previous year.
While unit sales continued their downward trend, average ticket prices showed a robust 20 percent increase versus same period in 2020.
The diamond categories continued to lead with a 17 percent increase in sales, a 16 percent increase in number of units sold, and a 2.3 percent increase in average retail sales for the period through Feb. 14.
The colored stone and pearl categories were also up in all key performance indicators.
Preceding the first two weeks of February was a strong January that showed an 11 percent increase in gross sales versus January of 2020.
On the strength of an outstanding year in 2020, where retailers recovered to within 0.05 percent of their 2019 results, the January and mid-month February performance suggest a near-term positive continuation for retail jewelers.
That’s an impressive development given the challenges retailers continue to grapple with, including lockdowns, shortened hours and, in many cases, furloughs and/or layoffs of personnel.
RELATED CONTENT: Watch—A Webinar on 2021 Predictions
Although fewer units were sold in 2020 (down 15 percent compared to 2019), the average retail ticket grew a whopping 17 percent on the back of the shift to diamond jewelry and loose diamonds, with gross margins improving by 1 percent.
Loose diamonds led the charge with 14 percent of annual sales for 2020, and they showed improvement in all key performance indicators.
Diamond engagement rings and diamond wedding bands were the next two best-performing categories for 2020, with increases of 2.3 percent and 3.3 percent in gross sales, respectively.
Overall, the diamond categories performed very well, representing about 47 percent of annual sales (this number doesn’t include diamond categories processed through point of sale as custom) in 2020, with an overall increase of 2.4 percent in gross sales.
Editors' Picks
Sponsored by
It also was one of the few categories to show solid growth in number of units sold.
Timepieces also held their own during the pandemic, representing 16 percent of total annual sales for independent stores. Overall, the category was positive to 2020 with 1.5 percent sales growth.
Despite a 16 percent decline in number of units sold, watches enjoyed a double-digit increase in average retail sale at 21 percent, growing from $2,900 to $3,509. There was also an increase of 2.4 percent in gross margin for the category versus previous year.
Services, on the other hand, were a mixed bag in 2020.
They represented 12.2 percent of annual gross sales, but repairs declined in all key performance indicators save one, average retail sale, and that increase was only $7 per item.
This was no doubt impacted by the significant decline in foot traffic and a willingness to hold off on non-essential trips to the stores.
Custom jewelry grew in all key performance indicators, except one.
The category saw a 3.2 percent increase in gross sales, a very small increase in gross margin and a whopping 11 percent increase in average retail sale, an improvement of $176 per item.
Number of units sold declined 7 percent.
All in all, 2020 was a stellar year for independent jewelers, and 2021 is off to a strong start.
As a wise man once said, let’s make hay while the sun shines.
Timepieces also held their own during the pandemic, representing 16 percent of total annual sales for independent stores. Overall, the category was positive to 2020 with 1.5 percent sales growth.
Despite a 16 percent decline in number of units sold, watches enjoyed a double-digit increase in average retail sale at 21 percent, growing from $2,900 to $3,509. There was also an increase of 2.4 percent in gross margin for the category versus previous year.
Services, on the other hand, were a mixed bag in 2020.
They represented 12.2 percent of annual gross sales, but repairs declined in all key performance indicators save one, average retail sale, and that increase was only $7 per item.
This was no doubt impacted by the significant decline in foot traffic and a willingness to hold off on non-essential trips to the stores.
Custom jewelry grew in all key performance indicators, except one.
The category saw a 3.2 percent increase in gross sales, a very small increase in gross margin and a whopping 11 percent increase in average retail sale, an improvement of $176 per item.
Number of units sold declined 7 percent.
All in all, 2020 was a stellar year for independent jewelers, and 2021 is off to a strong start.
As a wise man once said, let’s make hay while the sun shines.
More on Columnists
The Latest
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
Weekly QuizJan 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
WatchesJan 29, 2026
Audemars Piguet Opens AP House in AtlantaThe Swiss watchmaker has brought its latest immersive boutique to Atlanta, a city it described as “an epicenter of music and storytelling.”
SourcingJan 28, 2026
Ethical Gem Fair to Debut Designer Showcase in TucsonThe new addition will feature finished jewelry created using “consciously sourced” gemstones.
SurveysJan 28, 2026
Consumer Confidence Falls Below Pandemic Lows in JanuaryThe index fell to its lowest level since May 2014 amid concerns about the present and the future.
IndependentsJan 28, 2026
Foundrae Heads to Aspen for Latest Store OpeningThe new store in Aspen, Colorado, takes inspiration from a stately library for its intimate yet elevated interior design.
FinancialsJan 28, 2026
Tiffany & Co., Bulgari Sales Resilient as LVMH’s 2025 Sales SlipThe brands’ high jewelry collections performed especially well last year despite a challenging environment.
CollectionsJan 27, 2026
De Beers London, GemFair Debut New Collection Highlighting Artisanal DiamondsThe collection marks the first time GemFair’s artisanal diamonds will be brought directly to consumers.
SourcingJan 27, 2026
GemGuide Launches Pricing for Montana SapphiresThe initial charts are for blue, teal, and green material, each grouped into three charts categorized as good, fine, and extra fine.
TechnologyJan 27, 2026
Clientbook Launches Appointment Booking ToolThe new tool can assign the appropriate associate based on the client or appointment type and automate personalized text message follow-ups.
SourcingJan 26, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
SourcingJan 26, 2026
Angolan Diamond Cos. Join NDC as Rio Tinto, Murowa Exit Endiama and Sodiam will contribute money to the marketing of natural diamonds as new members of the Natural Diamond Council.
MajorsJan 26, 2026
Francesca’s To Close All StoresThe retailer operates more than 450 boutiques across 45 states, according to its website.
MajorsJan 26, 2026
BIJC Names 5 New Board MembersThe new members’ skills span communications, business development, advocacy, and industry leadership.
CollectionsJan 26, 2026
Tiffany & Co. Celebrates 189 Years of Love StoriesThe jeweler’s 2026 Valentine’s Day campaign, “Celebrating Love Stories Since 1837,” includes a short firm starring actress Adria Arjona.
GradingJan 26, 2026
DCA Updates Colored Gemstone CourseThe new features include interactive flashcards and scenario-based roleplay with AI tools.
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
