As jewellery retailers prepare for the year’s busiest period, Retail Edge has published a review of November’s jewellery sales, detailing several positive trends.
Across more than 400 independent retailers in Australia, overall sales dollar performance declined by 1.2 per cent compared with the past year.
Comparative units sold were close to neutral (0.3 per cent) on a year-on-year comparison and decreased by eight per cent compared with 2021.
The comparative average sale – inventory only – increased by 1.5 per cent on a year-on-year comparison and improved by 3.9 per cent compared with 2021.
Retail Edge general manager Leon Van Megan said that there were several positives to be taken from the analysis.
“The November average sale is at $210 compared with $206 last year and $202 in 2021,” he said.
“This result shows the industry is doing relatively well considering the economy, cost of living challenges and the fact that the retail industry, in general, recorded a relatively poor November.”
Unit sales were nearly flat compared with 2022, while a two-year comparison reveals an eight per cent decline.
Diamond jewellery sales decreased by 10 per cent on a one-year comparison, while colour gemstone jewellery increased by 3.2 per cent.
In another positive discovery, precious metal jewellery without a gemstone or diamond increased by 16 per cent. Silver and alternative metal jewellery also improved by six per cent.
“Shifting consumer tastes is illustrated by the continuing changes in department performance,” Van Megen explained.
“This is one of the few times in the second half of the year that we have had positive news to report. Not only did the total industry experience sales increases, but so did the colour gemstones, precious metal jewellery, and the silver and alternative metals departments.”
Regarding laybys, sales increased by 10.3 per cent in dollar terms between new orders and pick-ups or cancellations. Services, such as repairs, decreased by 29.2 per cent.
Special order figures improved by four per cent on a year-on-year comparison.
2023 Jewellery Retail Sales November 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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