SAMS Group Australia
advertisement
SAMS Group Australia
advertisement
SAMS Group Australia
advertisement
Goto your account
Search Stories by: 
and/or
 

News, Australian Jewellery Sales Analysis












The latest data, collected from more than 400 independent stores, revealed a 4.4 per cent decline in comparative overall sales dollars on a year-on-year comparison. | Source: Freepik
The latest data, collected from more than 400 independent stores, revealed a 4.4 per cent decline in comparative overall sales dollars on a year-on-year comparison. | Source: Freepik

Australian jewellery retailers wrestling with decreasing sales

The September analysis of the Australian jewellery market from Retail Edge has uncovered another decline in sales performance.

The latest data, collected from more than 400 independent stores, revealed a 4.4 per cent decline in comparative overall sales dollars on a year-on-year comparison.

It was a similar story in August when sales declined by six per cent, and in July, when sales decreased by 11 per cent.

In September, comparative units sold decreased by 10 per cent compared with the past year and improved by 26 per cent on a two-year comparison. Comparative average sale – inventory only – increased by 9 per cent on a year-on-year comparison from $251 to $230.

Retail Edge general manager Leon Van Megen said that diamond-set precious metal jewellery decreased by seven per cent compared with 2022 – and that other product categories produced similar results. 

“Colour gemstone-set precious metal jewellery sales dollars decreased 18 per cent compared with September 2022 and increased six per cent on the two-year comparison,” he said.

Leon van Megen, general manager at Retail Edge Consultants
Leon van Megen, general manager at Retail Edge Consultants
"Colour gemstone-set precious metal jewellery shows sales dollars decreased 18 per cent compared with September 2022 and increased six per cent on the two-year comparison."
Leon Van Megen, Retail Edge

“Precious metal jewellery [no gemstone] shows sales dollars decreased eight per cent compared to September 2022 and improved  45 per cent on the two-year comparison.”

He continued: “Silver and alternative metals jewellery shows sales dollars declined 0.6 per cent compared with September 2022.”

Laybys was close to neutral in dollar terms between new orders and pick-ups or cancellations. Services, such as repairs, decreased by 25 per cent in dollar values, and Van Megen said this was an area retailers needed to be monitoring closely.

“This is an entrenched consumer pattern that may need more than a small shift in consumer sentiment to flip the switch from off to on,” he said.

“Repairs are still being done, you may need to make an effort to get, or keep, your share and someone else's.”

Special order numbers decreased by 18 per cent in dollar terms between new orders and pick-ups and cancellations.

Consumer confidence

These findings were again reflected in the latest ANZ-Roy Morgan Consumer Confidence Index report, which has now spent 30 consecutive weeks below the 80-point mark.

ANZ economist Madeline Dunk attributed the latest decline to weakening confidence about personal finances, with consumers tightening their budgets.

“Each of the five subindices declined, and there was a particularly steep drop in the ‘future financial conditions’ sub-index,” she said.

“Confidence among those households paying off a mortgage declined by 8.1 per cent while it fell 2.9 per cent for renters and 0.3 per cent for households who own their home outright. Meanwhile, inflation expectations rose to 5.4 per cent, reversing the falls seen in the previous two weeks.”

Sentiment regarding the Australian economy in the future has declined again, with 10 per cent of Australians expecting ‘good times’ for the economy over the next five years compared with 22 per cent expecting ‘bad times’.


2023 Jewellery 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 jewellery stores.

 


 


 

 

More reading
Tough sledding: Australian jewellery sales decline in August
Jewellery sales decline in July, consumer confidence on the rebound
Cause for celebration for jewellery retailers
Retail Edge urges caution in the latest market assessment
Modest sales wins for Australian jewellery retailers
Optimism following February’s retail jewellery analysis
Surprise reversal pattern observed in Australian jewellery sales
Retail Edge urges caution in the latest market assessment

 











Rapid Casting
advertisement





Read current issue

login to my account
Username: Password:
Expertise Events
advertisement
Jeweller Magazine
advertisement
Rapid Casting
advertisement
© 2024 Befindan Media