The latest sales performance analysis from Retail Edge has drawn attention to a second consecutive month of strong performance for local jewelery retailers.
Retail Edge’s data is gathered from POS software located in more than 400 Australian independent retail jewelry stores and in September, comparative overall sales increased by 54 per cent compared with 2021.
Sales performance rose 18 per cent compared with September 2020. These figures come after a tremendous August analysis revealing a 62 per cent rise compared with 2021.
The results for comparative units sold show a good increase of 38 per cent compared to September 2021 but a modest 0.2 per cent improve on the 2-year comparison to 2020.
Comparative average sale (in inventory only) was a 12 per cent improver compared to September 2021, up to $220 from $197.
Retail Edge sales manager Mike Dyer once again forewarned of the significant impact the market conditions during the pandemic had on the final figures.
“As was stated each of the last few months, when reviewing the numbers it’s important to remember that July, August and September 2021 and 2020 were impacted by lockdowns and so this will have an influence on the growth numbers,” he cautioned.
“There were strong results across the product categories as you would expect given the numbers above. The drill down into the sales dollar numbers shows diamond set precious metal jewelry was up a huge 55 per cent compared to September 2021 and a good 13 per cent up on the 2-year difference to September 2020.”
Colored stone set precious metal jewelry sales dollars rose 45 per cent compared to September 2021 and a strong increase of 29 per cent on the 2-year comparison.
No stone precious metal jewelry sales dollar figures were impressive with a 57 per cent increase compared to 2021 and a notable 27 per cent growth on the 2-year difference to 2020.
Silver and alternative metals jewelry sales dollars were also very pleasing with a 74 per cent jump compared to 2021 and respectably 33 per cent improve on the 2-year comparison to 2020.
Dyer said that the pattern in layaways (laybys) showed a decrease of 12 per cent in between new ones and pickups or dollars cancellations.
“After the previous three consecutive months of increases it’s only natural to have this drop due to completion and collection of the laybys,” he explained.
“The pattern in services [repairs] also reflects this pattern with a decrease of 20 per cent in dollar values between new [incoming] and pickups or cancellations. If this pattern is also reflected in your business, it highlights the need to lift the volume and frequency of your marketing around the services area of your business.”
Special order data demonstrates a reversal of the above pattern with an increase of 22 per cent in dollar values between new (incoming) and pickups or cancellations.
Dyer suggested this is a good inflow of activity and cash flow moving forward towards the holiday period.
2022 Jewelery Retail Sales September 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.
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