Retail Edge Consultants compiled the data from more than 400 independent stores and revealed that sales increased by 2.9 per cent in July compared to the previous year.
Comparative units sold improved by 5 per cent by the same metric. The average unit sale of items ($215) decreased by 4.1 per cent compared with the previous July ($224).
These positive trends are undoubtedly welcome news for retailers following concerning sales declines in June (10 per cent) and May (1.3 per cent).
General manager Leon van Megen said improved performance in one specific category was particularly pleasing.
“It is encouraging to see some growth in diamond precious metal sales,” he said.
“This category is up by 3.9 per cent for July 2024 compared to July 2023; however, it is down a substantial 24 per cent compared to July 2022.”
Sales of colour gemstone jewellery increased by 21 per cent compared to the previous year, while silver and alternative metals sales improved by 14 per cent. Precious metal jewellery without a gemstone or diamond also improved by 6 per cent.
Analysis of sales in laybys revealed a 5.9 per cent decrease in dollar terms between new orders and pickups and/or cancellations. Services, such as repairs, decreased by 30.7 per cent on a year-on-year comparison, while special orders improved by 1.4 per cent.
Retail Edge recently confirmed the details of a $5,000 promotion at the International Jewellery Fair in Sydney.
2024 Jewellery Retail Sales July 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.
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