Jewellery unit sales decreased by 9 per cent on a year-on-year comparison, while average retail sale (inventory only) increased by 10 per cent compared with the previous year, reaching $288.

Leon van Megen, general manager at Retail Edge Consultants

While November didn’t deliver a year-on-year increase, it reflects a market that is continuing to consolidate around higher-value transactions. The stability shows customers are spending meaningfully, keeping overall revenue in line with last year even as volume of units sold decreases.

This month’s unit sales reinforces the broader 2025 pattern. Customers are making fewer purchases but it doesn’t necessarily mean reduced revenue. The behaviour points to more deliberate buying, with shoppers placing greater emphasis on quality and product relevance.

Rising sale values underpin revenue stability. Widening unit volume-average sale gap signals a trend. Shoppers spend more per transaction, a strong indicator of resilient discretionary spending sector-wide.