Jewellery sales in May showed notable improvement, with a 3.9% increase compared to the same month last year, and a 3.2% rise from two years ago, according to data from Retail Edge Consultants.
The average retail sale, focusing only on inventory, reached $273—up by 9% from the previous year and 23% from 2023.
Despite a 4.9% decline in unit sales compared to last year, Leon van Megen, General Manager, noted this reflects a shift towards more intentional purchasing.
“Consumers are buying fewer items, but at higher price points,” he explained. “This shift continues to drive up the average sale value, helping to offset the decline in unit sales and contributing to the overall increase in sales revenue.”
In terms of specific categories, diamond jewellery sales rose by 4.4% compared to the previous year. Van Megen explained, “This modest rebound shows that consumers are gradually returning to purchasing higher-ticket items, although long-term caution remains.”
Sales of coloured gemstone jewellery saw a significant 26% increase, while jewellery without diamonds or precious gemstones experienced a slight drop of 1.2%. Silver and alternative metals jewellery also showed growth, up by 2.9% compared to last year.
An analysis of lay-by sales revealed a rise in new orders and pickups, though cancellations increased as well. However, services such as repairs and special orders saw a decline.
This positive performance follows a small dip in sales during April and March, following consecutive increases in February and January.
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