June was a strong month for our independent retailers despite the challenges and restrictions associated with reopening. Not only did they hit sales pre-Covid numbers, but jewelers showed an increase in gross sales, albeit a small one.
The diamond categories had the biggest increase in both gross sales and units sold followed by colored stone categories.
The strongest performance was in loose diamonds, diamond bands and diamond earrings; all showed increases in gross sales and units sold.
We know the vast majority of retailers have modified their hours and are limiting the number of people allowed into their retail environment at the same time. In spite of this, we see the overall average retail sale continues to climb while the overall units decline.
It has been great to see how quickly and creatively our retailers adapted to the current environment. It clearly shows in the numbers.
About The Vibe
The Vibe is designed to give retailers exclusive and regular access to independent jewelry store sell-through stats. It is meant to help you better run your business.
How do we gather this info?
Our Edge Pulse program pulls sales data (anonymously, of course) from over 1200 retailers. The Edge Retail Academy is the single largest aggregator of independent jewelry retailers in the US, collecting $2 billion in annual fine jewelry sales data. We are also the ONLY AUTHORIZED aggregator of data from The Edge.
About Edge Retail Academy
Edge Retail Academy is the leading provider of jewelry business advisory services combined with real-time data to improve the sales and profitability for the jewelry industry. It offers products to both jewelers and jewelry vendors including the largest grouping of aggregated retailer sales and inventory data in the industry. For more information, please visit www.edgeretailacademy.com.
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