CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
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.
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
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
Weekly QuizJun 26, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for EntriesThe organization has also announced this year’s slate of judges.
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local RetailerLori Tucker started at Williams Jewelers when she was 18 years old.
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry CollectionThe “XO Tacori” collection was designed to blend luxury and accessible pricing.
GradingJun 23, 2025
GIA Names New President and CEO Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSignatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.
Events & AwardsJun 23, 2025
Jose Hess Design Awards Celebrate 6 Jewelry DesignersThe winning designs captured the “Radiance” theme.
