SurveysApr 01, 2021
Consumer Confidence Surges to One-Year High in MarchColumnistsApr 08, 2021
On Data: Examining Jewelry Sales in March
In her latest column, Sherry Smith weighs March 2021 against March 2019 to give a more accurate picture of how jewelry is performing.
Sherry Smith is director of business development for data and consulting company The Edge Retail Academy. In her role, Smith works with wholesalers, brands, and retail stores on business mentoring, and data analysis and aggregation. She can be reached at sherry@edgeretailacademy.com.
According to Kiplinger, overall retail sales are expected to jump in March and again in April, primarily due to the $1,400 per-person stimulus checks.
Let’s see if that held true for the fine jewelry category last month.
While comparing March 2021 to March 2020 is not instructive given the nationwide shutdown, when weighing March 2021 against March 2019, the results are compelling.
In March 2021, jewelry showed a 37.2 percent increase in gross sales versus March 2019.
Because many retailers were closed for much of March last year, it is also worth comparing the first quarter of this year with the first quarter of 2019.
The findings show jewelry sales in Q1 of March 2021 were up 30.6 percent when compared with the same period in 2019.
For context, January and February 2020 showed strong increases in number of units sold when compared with January and February 2019. It wasn’t until stores started closing in March 2020 that unit sales took a nosedive.
Notably, the average retail sale continued to climb every single month of the first quarter and year-over- year from 2019 through 2021.
Related stories will be right here …
Let’s see if that held true for the fine jewelry category last month.
While comparing March 2021 to March 2020 is not instructive given the nationwide shutdown, when weighing March 2021 against March 2019, the results are compelling.
In March 2021, jewelry showed a 37.2 percent increase in gross sales versus March 2019.
Because many retailers were closed for much of March last year, it is also worth comparing the first quarter of this year with the first quarter of 2019.
The findings show jewelry sales in Q1 of March 2021 were up 30.6 percent when compared with the same period in 2019.
For context, January and February 2020 showed strong increases in number of units sold when compared with January and February 2019. It wasn’t until stores started closing in March 2020 that unit sales took a nosedive.
Notably, the average retail sale continued to climb every single month of the first quarter and year-over- year from 2019 through 2021.
Here are a few additional highlights from March 2021.
The watch category made up 20.2 percent of total sales for the month and showed a 62 percent increase in gross sales when compared with March 2019, and a 20.1 percent increase compared with March 2020. (Believe it or not, watch sales were extremely strong throughout the pandemic.)
Watch units climbed 88 percent compared with March 2020 and 18 percent when compared with March 2019.
The average retail sale was up 13 percent when compared with March 2020 but grew 37.5 percent when compared with March 2019.
Loose diamonds made up 15 percent of total gross sales for the month, and their sales were up an impressive 38.9 percent compared with March 2019 and soared 115 percent compared with March 2020.
Even sterling silver, despite sustained periods of decline, performed well.
In March 2021, gross sales of sterling silver jewelry were up 5.3 percent compared with March 2019 and 107 percent compared with March 2020.
The rolling 12-month period ending February 2021 also shows a strong increase compared with 2019, despite having several months of closures in the data.
Gross sales increased 6.2 percent compared with the same period ending February 2019, and the average retail sale grew 31 percent.
With vaccinations accelerating at a rapid pace, there are some predicting retail sales growth will be front-loaded to the first half of this year.
While we can expect increased competition from travel as things open up, and retailers will find themselves fighting more for those disposable dollars, we suspect retailers who execute well will continue to see positive growth.
The watch category made up 20.2 percent of total sales for the month and showed a 62 percent increase in gross sales when compared with March 2019, and a 20.1 percent increase compared with March 2020. (Believe it or not, watch sales were extremely strong throughout the pandemic.)
Watch units climbed 88 percent compared with March 2020 and 18 percent when compared with March 2019.
The average retail sale was up 13 percent when compared with March 2020 but grew 37.5 percent when compared with March 2019.
Loose diamonds made up 15 percent of total gross sales for the month, and their sales were up an impressive 38.9 percent compared with March 2019 and soared 115 percent compared with March 2020.
Even sterling silver, despite sustained periods of decline, performed well.
In March 2021, gross sales of sterling silver jewelry were up 5.3 percent compared with March 2019 and 107 percent compared with March 2020.
The rolling 12-month period ending February 2021 also shows a strong increase compared with 2019, despite having several months of closures in the data.
Gross sales increased 6.2 percent compared with the same period ending February 2019, and the average retail sale grew 31 percent.
With vaccinations accelerating at a rapid pace, there are some predicting retail sales growth will be front-loaded to the first half of this year.
While we can expect increased competition from travel as things open up, and retailers will find themselves fighting more for those disposable dollars, we suspect retailers who execute well will continue to see positive growth.
Editors' Picks
Sponsored by
More on Columnists
The Latest
AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink DiamondThe highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
FinancialsAug 29, 2025
Movado’s Q2 Sales Rebound Despite Tariff ImpactCEO Efraim Grinberg noted a resurgence in the fashion watch market.
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and CoachingSponsored by Clientbook
Weekly QuizAug 29, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales SlumpPresident Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsAug 28, 2025
Borsheims Names New Jewelry BuyerFormer Free People buyer Afton Robertson-Kanne recently joined the retailer.
IndependentsAug 28, 2025
Sissy’s Log Cabin Donates School Supplies to Memphis StudentsThe jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil CampaignThe Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.
IndependentsAug 26, 2025
Hinkamp Jewelers Celebrates 70 YearsThe family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons HomeThe new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US OpenThe Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.
TrendsAug 25, 2025
Amanda’s Style File: That’s a WrapWrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
