Jeweller - May 2022

News
Positive indicators continue in March for Australian jewellery retailers
2022 is off to a strong start for Australian jewellery retailers,
with data collected from more than 400 businesses by Retail
Edge revealing plenty of positive outcomes.
The first quarter of 2022 is in the books and
heading through April, the latest Retail Edge report
indicates that it continues to be a positive year from
a market perspective, particularly when it comes to
inventory average sale figures.
Data collected from 1 March through 31 March
shows that comparative overall sales dollars
increased by 1.5 per cent compared with the same
period last year, and while there was a huge 56 per
cent increase compared with March in 2020.
The comparative units sold show a decrease of 6
percent compared with March 2021 but a strong 31
per cent increase compared with March 2020.
According to Retail Edge sales manager Michael
Dyer, one potential explanation for this drop in units
sold could be widespread weather conditions on the
east coast of Australia.
The comparative inventory average sale continues
to climb and was 11 per cent higher compared with
March 2021, rising from $209 to $233. Compared
with March of 2020, that was an increase of 24 per
cent.
Product categories show positive signs
There was notable increases across many of the
product categories. Diamond set precious metal
jewellery was up 2.5 per cent compared with March
last year and a remarkable 76 per cent on the same
period in 2020.
Colour stone set precious metal jewellery sales
dollars increased 30 per cent compared with March
2021 and showed an even larger increase of 66 per
cent on the two-year comparison with March 2020.
Non-stone precious metal jewellery sales dollars
increased strongly again, to be 18 per cent
higher compared with March 2021 and it was an
exceptional result of 21 per cent growth on the twoyear
difference with March 2020.
Silver and alternative metals jewellery sales dollars
increased 17 per cent compared with March 2021
and were 53 per cent higher on the two-year
comparison with March 2020.
Dyer believes that the above trends continues to
suggest a strong positive consumer mindset and
that gathering higher quality data was crucial.
“I believe it is so important for getting the best
picture of what is happening,” Dyer said said.
“[Retailers] need to make sure that their custom
makes, diamond set or coloured stone set, are
getting allocated stock numbers and being
recorded as sales in a product category so that the
value of the information can be easily seen, rather
than being lost in your repairs.
“I can't emphasise this enough. The quality of
the data has a strong influence on the visibility of
patterns.”
The pattern with layby purchases showed an
increase of 13.6 per cent in dollars between
new items and pick-ups or cancellations. This
demonstrates good cashflow pattern in the
pipeline.
Interestingly, the pattern in services and repairs is
the reverse outcome with a decrease of more than
12 per cent witnessed between incoming orders
and pick-ups or cancellations.
“That's not bad news,” advised Dyer.
“It just means that the repairs are being completed
and collected. The special order numbers show
a similar pattern with a decrease of 10.3 per
cent between incoming orders and pickups or
cancellations. Again that's not bad news.”
Retail Edge’s data is gathered from its POS
software located more than 400 Australian
independent retail jewellery stores. It is intended
to present a representative sample of the wider
Australian jewellery industry.
Plans start to take shape for Sydney’s International Jewellery Fair
Preparations are well and truly underway for the
upcoming International Jewellery Fair (IJF) in
Sydney following a highly successful Australian
Jewellery Fair in March.
This year’s IJF is scheduled to take place from 27-30
August at the International Convention Centre in
Darling Harbour, Sydney.
The event will come hot on the heels of the highly
successful Australian Jewellery Fair which sold out
four weeks prior to opening.
The IJF will have something for everyone, with
the trade-only fair offering international and local
buyers and sellers the chance to gather under one
roof and network.
The chance to examine new ranges and source
new products, as well as learn skills in work
shops and listen to industry experts speak as
special presentations.
One of this year’s special guests will be Debra
Templar from the Templar Group, who will be
providing special education sessions as a part of the
‘Shop Talk’ program.
The sessions will cover an extensive range of
topics, including but not limited to managing
without staff, visual merchandising, improving
customer service, new emerging technology and
of course, increasing sales.
Templar has more than 25 years experience working
with small business owners and retailers.
Expertise Events managing director, Gary Fitz-Roy
said the chance to work closely and face-to-face
with, and learn from, other members of the industry
can’t be substituted.
”There have been some big lessons over the
last two years and one is never take anything for
granted,” he said.
“Being able to connect with knowledgeable people
who are willing to share is gold to ensuring your
business is ready for what comes along or creates
opportunities.
“We are invested in the industry’s return and believe
education sharing is invaluable.”
Fitz-Roy added that the the three buyings groups
- Nationwide Jewellers, Independent Jewellers
Collective and Leading Edge Jewellers – are all
throwing their full support behind the August fair, as
they did in March.
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