TrendsJan 21, 2025
Amanda’s Style File: Decadent Mocha MoussePantone’s 2025 Color of the Year takes the form of jewelry through gemstones and enamel that look just as delicious as mocha mousse.
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 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.
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.
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.
More on Columnists
The Latest
Policies & IssuesJan 21, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.
SourcingJan 21, 2025
Diamonds Do Good Adds 2 Board MembersJulia Hackman Chafé and Monica Elias have joined the organization’s board of directors.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
FinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday QuarterThe company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.
Weekly QuizJan 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 17, 2025
Piece of the Week: Picchiotti’s Transformable ‘Classic Blue and Green’ NecklaceThe necklace features a sapphire drop weighing more than 9 carats that detaches to transform into a ring.
MajorsJan 17, 2025
Tiffany & Co., CFDA Name First Winner of Jewelry Designer AwardJameel Mohammed, founder of Afrofuturist brand Khiry, will receive a cash prize and a one-year paid fellowship with Tiffany & Co.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
IndependentsJan 16, 2025
Lux Bond & Green to Open Sixth LocationThe 127-year-old jeweler is planning to open a new store in Mystic, Connecticut.
WatchesJan 16, 2025
Timex Launches Collection of National Park WatchesThe watches’ dials feature artwork celebrating the vibrant energy and unique landscapes of six of America’s national parks.
AuctionsJan 16, 2025
Elizabeth Taylor’s Diamond Line Bracelet Going up for Auction Offered by U.K. auction house Woolley & Wallis, the yellow diamond bracelet was a gift from Taylor’s good friend Michael Jackson.
Events & AwardsJan 16, 2025
JCK Las Vegas 2025 Open for RegistrationThe jewelry trade show returns to The Venetian Expo and The Venetian Resort in Las Vegas from June 6 to 9.
EditorsJan 15, 2025
The Jewelry I’d Bid On in Christie’s Iris Apfel AuctionAssociate Editor Natalie Francisco highlights her favorite fashion jewelry pieces from the upcoming “Unapologetically Iris” auction.
MajorsJan 15, 2025
Macy’s to Close 66 Stores as Part of Turnaround StrategyThe closures are part of the retailer’s plan to close 150 locations over a three-year period.
Policies & IssuesJan 15, 2025
JVC Debuts Guide to Americans with Disabilities Act ComplianceThe online guide is available for free and written with the jewelry industry in mind.
Events & AwardsJan 15, 2025
Jose Hess Design Awards Open for SubmissionsThe awards honor the late Jose Hess, a founding member of AJDC and an award-winning jewelry designer.
GradingJan 14, 2025
GIA CEO, President Susan Jacques to Retire at the End of 2025The grading lab said the search for her successor is underway.
GradingJan 14, 2025
Former SSEF Director Henry A. Hänni DiesA pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.
FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall ShortThe peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
MajorsJan 14, 2025
Edouard Schneider Joins Messika as Chief Brand OfficerSchneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.
SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking GemfieldsGemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.
TechnologyJan 13, 2025
Ultrahuman Unveils Luxury Smart RingWith versions in 18-karat gold and platinum, the wearables company is blending health technology and fine jewelry.
Policies & IssuesJan 13, 2025
Brandee Dallow Elected President of Ethical MetalsmithsThe executive brings more than two decades of industry experience to the role.
IndependentsJan 13, 2025
The Seven Pops Up in Palm BeachThe New York City-based retailer is bringing its curation of jewels to a pop-up shop at Love Binetti in Palm Beach, Florida.
Policies & IssuesJan 10, 2025
Jewelers Relief Fund Reopened to Aid Victims of LA Fires Created by JA and DCA, the fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.
TrendsJan 10, 2025
Piece of the Week: Elsa Jin’s ‘Mozi’ BroochAdrien Brody received his first Golden Globe while wearing the “Mozi” brooch, which depicts a spill of traditional Chinese calligraphy ink.
SourcingJan 10, 2025
De Beers, GJEPC Partner to Promote Natural DiamondsThe pair will work together to support independent retailers in India with marketing assets, training materials, and other tools.
