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New sales data compiled by Retail Edge Consultants indicates jewellery sales in dollar and number terms declined between June and July, likely due to enforced store closures across Sydney and Melbourne.
New sales data compiled by Retail Edge Consultants indicates jewellery sales in dollar and number terms declined between June and July, likely due to enforced store closures across Sydney and Melbourne.

Sydney and Melbourne lockdowns bite into July jewellery sales

The extended lockdown of greater Sydney and a two-week snap lockdown in Melbourne have impacted jewellery sales in dollar and number terms, bringing to an end more than eight months of upward momentum.

When compared with June 2021, overall sales declined from $12.7 million to $11.4 million, and were 14 per cent lower than in July 2020, according to new data compiled by Retail Edge Consultants.

"When compared with June 2021, overall sales declined from $12.7 million to $11.4 million, and were 14 per cent lower than in July 2020"

Sales fell across all jewellery categories, with the most significant decrease in silver and alternative metal jewellery, which declined by 24.8 per cent when compared with the previous month and 19 per cent compared with July 2020.

However, overall jewellery sales in dollar terms increased 4.3 per cent when compared with 2019, while average sale price (inventory only) was 34 per cent higher than in July 2019.

Michael Dyer, sales manager at Retail Edge, noted in the report, “Although the figures are a little clouded by the number of stores with limited trading in July, the picture does show customers are still buying bigger ticket items than last July.”

The best performing category in sales dollars was no-stone precious metal jewellery, which increased 45 per cent when compared with July 2019 and remained flat compared with 2020, followed by diamond-set precious metal jewellery which increased 19 per cent over two years.

In terms of services, Dyer noted that there were more pickups/cancellations than new work, indicating previous orders had been fulfilled and were being collected.

Dyer added, “With the calendar turning over into August you should be well into the planning, if not the placing of orders for the lead into Christmas.”

He suggested retailers conduct a strategic review of the best-performing product categories over the past 12 months ahead of the all-important buying season, as well as under-performing categories.

 

JULY 2021 Sales

Jewellery Sales by Dollar

Jewellery sales in dollars, July 2021
Jewellery sales in dollars, July 2021

Jewellery Sales by Number

Jewellery sales in numbers, July 2021
Jewellery sales in numbers, July 2021

 

More reading:
Positive trend for jewellery industry continues
Jewellery sales rise more than 250 per cent in April
Jewellery sales up 63 per cent in March: report
Strong post-holiday jewellery retail results continue




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