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Jeweler Data Backs Up Trend Of Fewer Weddings But More Diamond Sales | March 06, 2019 (0 comments)
Omaha, NE—Year-end diamond sales data compiled by The Edge Retail Academy reinforce a key trend that has emerged in the diamond market: fewer weddings but more non-bridal diamond jewelry purchases.
Related: U.S. Bridal Market In Decline, But Diamond-Gifting Occasions Growing
According to The Edge’s figures—representing aggregated sell-through data for more than 1,000 better retail jewelers across the United States—sales of non-bridal diamond jewelry rose 6% by both total dollar value and units in December 2018, compared to the same period a year ago. The average ticket, however, dropped very slightly—0.9%.
Sales of non-bridal diamond jewelry rose 6% year-on-year through December 2018, says data from The Edge Retail Academy. The increase was seen in both total dollar volume, left, and in unit sales, right.
For bridal jewelry, total sales grew 2.4% by value and 1.6% by units, which tracks with a slight increase in the average ticket, also 0.9%.
Bridal jewelry sales rose 2.4% by total dollar volume (left), but only 1.6% in units (right). The average ticket rose very slightly, by 0.9%.
Consumers are clearly price-shopping bridal jewelry more closely than other diamond jewelry. Gross profit for non-bridal diamond jewelry (diamond fashion rings, earrings, pendants, necklaces, bracelets, etc.) rose 7% year-on-year, compared to 3% for bridal jewelry. Gross margin for both held steady, with non-bridal jewelry at 48% outperforming bridal at 44% year on year.
Gross profit on non-bridal diamond jewelry (left) rose an average of 7% per store through December 2018, while the gross profit on bridal jewelry (right) rose only 3% on average.