A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Independent Jewelers See Sales Grow in June
Monthly diamond revenue climbed 12 percent year-over-year.
Omaha, Neb.—Independent jewelers posted revenue growth in June, the first time that’s happened since February, near the start of the worldwide spread of COVID-19.
Data from The Edge Retail Academy shows total revenue was up 2 percent year-over-year in June.
Diamond revenue climbed by double digits, growing 12 percent year-over-year.
The average retail sale was up 25 percent year-over-year to $432 from $345.
“June was a strong month for our independent retailers despite the challenges and restrictions associated with reopening,” said Sherry Smith, ERA’s director of business development and a National Jeweler columnist.
Retailers were active in bringing shoppers into stores, according to ERA’s research.
Kate Marks, owner of Marks of Design in Shelton, Connecticut, took to Facebook to auction her jewelry after her store closed due to COVID-19 restrictions.
“I nearly met my original May sales goal with these auctions,” Marks said in the survey, noting she sold hundreds of items online.
The auctions continued through June to maintain customer engagement and bring customers into the reopened store.
Alan Miller, owner of Alan Miller Jewelers in Oregon, Ohio, told ERA he ran a promotion at the beginning of the month to move older merchandise.
Around half the items in the store were offered at 25 to 50 percent off the original price.
Miller said he had a “strong June,” seeing sales climb 66 percent year-over-year.
“It has been great to see how quickly and creatively our retailers adapted to the current environment. This adaptability clearly shows in the numbers,” said Smith.
ERA collected data for its June insight report from more than 1,200 jewelers via its Edge Pulse program.
Insight reports are sent to the industry monthly via its “The Vibe” newsletter.
Retailers and vendors interested in being added to the free mailing list can contact Inquiries@EdgeRetailAcademy.com.
The Latest
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.