Jewelry sales continue to gain momentum based on the latest Retail Edge report from February 1-28, credited to a strong consumer buying attitude even after the Christmas and New Year sales season.
Overall dollar sales were up 9% from February 2021 and 26% from the same period in 2020, while comparative units sold were up 1.1% from a year ago and a higher increase of 4.8% compared to 2020.
According to Mike Dyer, Director of Sales, Retail Edge, the sales numbers are “all good positive market indicators.”
A significant 8% increase was also seen in inventory-based comparative average sales of $186 to $201 over last year’s numbers and a significant 20% increase over February 2020.
“There has been growth in many product categories. Exploration dollar sales figures showing precious metal jewelry set with diamonds were up 4.7% from February 2021 and 27% over the two-year difference in February 2020,” Dyer said.
The performance of diamond jewelry sales was a key driver of the average sale for the month, as evidenced by the increase in dollar sales of metal jewelry set with colored diamonds. It achieved a 7% increase from February last year and 10% for 2020.
Precious non-stone jewelry sales dollars are up over 15% from last year and are up significantly from 2020 with a strong 65% increase.
Silver and alternative metal jewelry sales dollars were also up more than 20% over last year and a significantly higher increase of 37% over the same period in 2020.
A similar positive trend was also seen in Rest Areas where Retail Edge reported a 4.8% increase for New Orders and Pickups or Cancellations, while Services was also up 3% and Special Orders increased. also increased by 26%.
Dyer offered advice to store managers: “With a semblance of normalcy returning to jewelry retail with trade shows restarting and reps moving around, it’s more important than ever to be aware of the market. of jewelry consumption before jumping into buying whatever’s in the next bag of rehearsals.”
Retail Edge data is collected from its point-of-sale software at over 400 independent Australian jewelery stores. It aims to present a cross-section of the jewelry industry at large.
Jewelry retail sales February 2022 results
Charts courtesy of Retail Edge
The charts below are based on data collected through the Retail Edge POS software
in over 400 independent Australian jewelers.
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