The latest analysis of sales performance in Australian independent jewelery stores from Retail Edge has uncovered minor positive trends.
February’s data showed comparative overall sales dollar performance. finished in positive territory with an increase of 1.6 percent compared with 2022.
It was a similar story in March, with comparative overall sales dollar performance narrowly improving by 0.4 per cent on a one-year comparison.
The increase was more profound compared with 2022, improving 1.4 percent.
Retail Edge sales manager Mike Dyer said: “The comparative units sold showed a decline of -1.6 per cent compared with March 2022 and a decrease of 7 per cent on the two-year difference to March 2021 units.”
He continued: “The comparative average sale in inventory only was again in positive territory, increasing 1.3 per cent compared to 2022 – $238 from $235. It was a strong 12 percent increase on the two-year difference compared to 2021, up to $238 from $213.”
Sales of diamond-set precious metal jewelery declined by 12 per cent compared with the previous year, while gemstone-set precious metal jewelery decreased by 22 per cent.
Meanwhile, silver and alternative metals jewelry sales dollars decreased by 4.9 percent compared with 2022 and increased by 9 percent on the two-year comparison.
The pattern in laybys was positive, while services and special orders saw a sizable decline.
Retail Edge’s data is collected from more than 400 independent Australian jewelery stores and of note in the March analysis, 27 per cent of sales lines were discounted.
2023 Jewelery Retail Sales March 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 jewelery stores.
More reading
Optimism following February’s retail jewelery analysis
Surprise reversal pattern observed in Australian jewelery sales
Australian jewelery sales steady in December
Sales dip during November for Australian jewelers
Third consecutive month of strong sales for local jewelers
Another major month of rising sales for Aussie retailers
Significant rise in sales for Australian jewelery retailers
