Monday, November 25, 2024

On dates: Independent jewellers shine in early December

In my last column, I broke down the performance of independent jewellers in November, including the last weekend of the month, the unofficial start of the holiday shopping season.

In this column, I will dissect the facets of the jewellery market’s early December performance, from a nuanced 2 per cent increase in overall sales to the surge in custom creations.

During the first week of December, independent jewellers experienced a positive trend, with a notable 2 per cent increase in total gross sales and a substantial 4 per cent increase in average retail sales.

Despite a modest 2 per cent dip in the number of units sold, the overall performance demonstrated the continued resilience of independent jewellers.

However, the broader diamond market (including both natural and lab-grown diamonds) recorded an 8 per cent decline in gross sales, primarily due to a significant setback in the bridal categories.

Specifically, gross sales in the segment comprising loose diamonds, semi-mounts, finished diamond engagement rings and wedding bands fell by 15 per cent.

This decline was accompanied by a 4 per cent fall in units sold and a significant 12 per cent fall in the average retail price.
In contrast, the diamond fashion sector remained relatively stable, with no change in gross sales and a marginal 2 per cent decrease in units sold.

Notably, the average retail value in this category showed a positive trend, increasing by 2 per cent.
The coloured stone and pearl categories experienced a slight decline, with gross sales down just over 1 per cent and units sold down 11 per cent.

Despite these challenges, there was an encouraging 11 per cent increase in the average retail price.

In contrast, the sterling silver and alternative metals categories experienced declines in all key performance indicators, with gross sales down 12 percent, units sold down 8 percent and average retail price down 4 percent.

However, the repair and custom jewellery segment showed encouraging results, with a commendable 10 per cent increase in gross sales, a 4 per cent increase in units sold and a 6 per cent increase in average retail price.

A standout performer in the market was the watch category, with an impressive 28 per cent increase in gross sales and a remarkable 31 per cent increase in the average retail sale.

Although units sold declined slightly by 2 per cent, the overall performance highlighted the strength and appeal of this particular segment.

Independent jewellers are navigating a diamond-shifting holiday season, with fashion, watches and repair services shining brighter than ever.

As bridal dreams cool, these unexpected heroes remind us that holiday sparkle comes in many forms.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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