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

News












Retail Edge has released its latest analysis of the Australian jewellery market, identifying another decline in sales performance. | Source: Pixabay
Retail Edge has released its latest analysis of the Australian jewellery market, identifying another decline in sales performance. | Source: Pixabay

Silver linings in latest Australian jewellery market analysis

Retail Edge has released its latest analysis of the Australian jewellery market, identifying another decline in sales performance.

Following a nine per cent decrease in September, sales declined again in October, this time by eight per cent on a year-on-year comparison.

Despite the sour results, sales in October remained nine per cent higher on a two-year comparison. Unit sales decreased by 10 per cent, which analysts attributed to a return to normal post-COVID trading’.

It wasn’t all bad news – comparative average sale increased by four per cent on a year-on-year comparison and improved by eight per cent on a two-year comparison ($249 from $231).

“Shifting consumer tastes is demonstrated in the different categories. Diamond precious metal jewellery has seen a significant drop, with a 29 per cent decrease in performance compared with the past year,” general manager Leon Van Megen explained.

Leon van Megen, general manager at Retail Edge Consultants
Leon van Megen, general manager at Retail Edge Consultants
"The movement in average sale, and the increase in colour gemstone jewellery sales suggests consumers are still buying – they’re just being selective as to what they are buying."
Leon Van Megen, Retail Edge Consultants

“Meanwhile, colour gemstone jewellery sales increased by 37 per cent on a two-year comparison; however, that is from a much smaller base [$450,000 compared to $1.9 million].”

Sales of precious metal jewellery without a gemstone declined by six per cent on a year-on-year comparison, while silver and alternative metals decreased by 17 per cent.

“The movement in average sale and the increase in colour gemstone jewellery sales suggests consumers are still buying – they’re just being selective as to what they are buying,” he continued.

“Those buying habits are changing. While the year-on-year comparison is challenging, the overall story sees retail jewellers largely the same as they were two years ago. The COVID bubble continues to deflate.”

Of the more than 400 independent retailers analysed, 32 per cent of sale lines were discounted.

The pattern in laybys was positive, increasing by 10 per cent in dollar terms between new orders and pickups or cancellations.

For repairs, revenue decreased by 17 per cent in dollar values between new orders and pickups or cancellations.

“For November and December, this means using the data to understand what changing consumer patterns look like in your area,” Van Megen added.

“Purchase stock with care and sell with passion.”

In terms of special orders, sales decreased by 4.2 per cent in dollar terms between new orders and pickups or cancellations.


2023 Jewellery Retail Sales October 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
Australian jewellery retailers wrestling with decreasing sales
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

 











Australian Diamond Trading Corporation (ADTC)
advertisement





Read current issue

login to my account
Username: Password:
Dialog
advertisement
Duraflex Group Australia
advertisement
SAMS Group Australia
advertisement
© 2024 Befindan Media