How Are Your Diamond Sales Performing?

The decline in jewelry store revenue over the last 18 months has seen many jewelers wondering where the good times have gone. Although volumes have been maintained, and even increased, the drop in average spend has had the biggest affect on most stores, and this shows no signs of easing. One of the biggest average spend categories, diamonds, warrants further analysis. This month we review recent sales of this category. So where has the decline happened? Given the level of the drop, the most obvious answer would be volume, the result of fewer people purchasing higher-end jewelry because of economic conditions. However, this has not necessarily been the case. Let's analyze these numbers a little further. The table below is from our sample of stores across the United States and demonstrates the decline in diamond sales, per average store, between the year ended July 2008 a

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