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New data from Retail Edge indicates the positive trend in jewellery sales continued in February 2021.
New data from Retail Edge indicates the positive trend in jewellery sales continued in February 2021.

Strong post-holiday jewellery retail results continue

The strong sales pattern that has been observed across the retail jewellery industry since mid-2020 has extended to February, according to the latest sales data from Retail Edge Consultants.

In dollar terms, combined sales across inventory, miscellaneous sales, and services, have increased 20 per cent compared with February 2020.

"The strong consumer demand pattern for jewellery has been ongoing for more than six months now, and even with the five-day lockdown in Victoria in February, activity bounced straight back when the stores reopened"
Retail Edge Consultants February Sales Report

This has been driven by a 7 per cent increase in units sold and a nearly 10 per cent increase in the average sale price.

January’s sales figures were 23 per cent higher than the same figure in 2020.

The report’s authors noted, “The strong consumer demand pattern for jewellery has been ongoing for more than six months now, and even with the five-day lockdown in Victoria in February, activity bounced straight back when the stores reopened – a good sign of consumer confidence.”

Over February, the best performing product categories were non-gemstone set precious metal jewellery, which increased 45 per cent compared with the previous year, and diamond-set precious metal jewellery – perhaps reflecting Valentine’s Day gifting – followed by coloured stone-set precious metal jewellery.

The Retail Edge report advised retailers to restock fast-selling products on a more frequent basis in order to keep up with the consumer demand.

In the services category, special orders were 20 per cent higher than the number of pickups and cancellations.

Retail Edge’s data is gathered from POS software across more than 400 Australian independent retail stores.

 

2021 February Jewellery Retail Sales Results

The charts below are based on data collected via Retail Edge POS software at more than
400 independent Australian jewellery stores through February 2020.

 

The value of February jewellery retail sales exceeded the previous two years, a trend that began in the middle of the pandemic.

The number of jewellery retail sales also showed continued promising results in February, following the Christmas trading period.

 

More reading:
New retail data indicates strong Christmas trade, fewer discounts
Trade Update: Australian jewellery sales data during COVID reveals surprising trends











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