Step inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
Product Pulse: Custom Jewelry Sales on the Rise
Custom jewelry is a category that’s growing, the majority of jewelers who took our latest survey said.
New York--The majority of jewelers who took our latest poll reported that custom jewelry is a category that’s growing, as they recognize it as a way to set their business apart while maintaining margins.
National Jeweler/Jewelers of America conducted its Product Pulse survey between Oct. 24 and Nov. 2, with a total of 173 respondents.
The poll opened by asking jewelers if they sold custom jewelry in their stores. Out of the 173 respondents, 166 (96 percent) said yes.
Of those 166, the highest percentage, 30 percent, said that custom accounted for 10 percent or less of their overall sales.
It is, however, an area of increasing sales and opportunity for independent jewelers, poll results indicate.
More than half of survey takers--53 percent--said custom jewelry sales have increased in recent years, while 38 percent said they have stayed the same. Only 9 percent reported a drop in custom sales.
When it comes to the types of custom pieces jewelers are creating, the vast majority of respondents reported that they make more rings, specifically engagement rings, than anything.
Many of these rings, poll results indicate, are created using diamonds that customers either bought online or inherited.
“I had three (customers) last week alone (who) brought in diamonds they bought online for me to set into their rings,” one jeweler wrote.
Another said most of his or her custom business is “redesigns of grandma’s items into a wearable piece,” with “an upswing of young men having grandma’s diamond and resetting it into an engagement (ring).”
One respondent said their custom orders are mostly for anniversary gifts and special occasions, adding that the “(importance of the) anniversary is drastically understated in our industry. This category is the largest percentage of my overall business.”
When asked to list the main advantage custom work gives the independent jeweler, answers included better margins, relationship building and the fact that making a piece highlights what it is that makes jewelers, well, jewelers--the ability to make jewelry.
One survey taker summarized it nicely by saying this: “Custom work gives the jeweler the advantage of ‘one-of-a-kind’ pieces that can’t be discounted by the internet and chain stores. Design skill
Another said that taking custom orders makes them feel like they are part of another profession entirely.
“We are hired to create a one-of-a-kind design, as opposed to selling from our case or catalogs. Sometimes, I feel a bit like a contractor building or renovating a house!”
September Sales
In the poll, respondents also were asked about sales for the month of September, and the results were mixed.
A total of 43 percent of survey takers said sales were up year-over-year in September while 36 percent said they were down.
National Jeweler/Jewelers of America conducts its monthly Product Pulse poll in conjunction with the Business Pulse survey.
This month’s Business Pulse asked jewelers about the biggest challenge facing their business today. Their response was published Tuesday on National Jeweler.
The Latest
These punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
The company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Sponsored by Tasha R
Three Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
A federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
Cynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
The new space was designed to evoke a warm, inviting vibe.
Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
The auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
The four finalists will present their pieces at the 2025 JCK Las Vegas show.
The “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
The money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
The event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
Local reports identified the woman as the wife of the jewelry store owner.
A collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
The Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
Hampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
The group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
The collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
This year’s theme asks designers to take inspiration from classic fairy tales.
Senior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
The latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
No. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.