Jewellery sales continue to gain good traction based on the latest Retail Edge report for 1 to 28 February, credited to a strong consumer buying attitude even after the Christmas and New Year sales season.
Overall sales dollars increased by 9 per cent compared with February 2021 and 26 per cent over the same period in 2020, while comparative units sold increased by 1.1 per cent from last year and a higher increase of 4.8 per cent versus 2020.
According to Mike Dyer, sales manager, Retail Edge the sales figures are “all good positive market indicators”.
A significant increase of 8 per cent was also seen in comparative average sales based on inventory from $186 to $201 compared with last year’s figures and a significant increase of 20 per cent when measured against February 2020.
“There was growth across many of the product categories. The drill down into the Sales Dollars numbers showing diamond-set, precious metal jewellery was up a good 4.7 per cent compared to February 2021 and a large 27 per cent on the two-year difference on February 2020,” Dyer said.
The sales performance for diamond jewellery was a factor in driving the average sale for the month, as shown in the increase of sales dollars for colour diamond-set metal jewellery. It achieved a 7 per cent increase compared with February last year and up by 10 per cent for 2020.
Sales dollars for non-stone precious jewellery increased by more than 15 per cent from last year and significantly rose from 2020 with a strong increase of 65 per cent.
Silver and alternative metal jewellery sales dollars also increased by more than 20 per cent compared with last year and a significantly higher increase of 37 per cent over the same period in 2020.
A similar positive trend was also seen in lay-bys where Retail Edge reported an increase of 4.8 per cent for new orders and pickups or cancellations, while services also increased by 3 per cent and special orders also rose by 26 per cent.
Dyer offered advice for store managers: “With some semblance of normality returning to jewellery retail with trade fairs restarting and reps getting out and about, it’s more important than ever to be aware of the jewellery consumer market before you get into buying whatever is in the next reps bag”.
Retail Edge’s data is gathered from its POS software across more than 400 Australian independent retail jewellery stores. It is intended to present a representative sample of the wider jewellery industry.
2022 Jewellery Retail Sales February Results
Charts published with permission courtesy of Retail Edge
The charts below are based on data collected via Retail Edge POS software
at more than 400 independent Australian jewellery stores.
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