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Big Diamonds Are Back – And You Can Profit From the Trend

Jewelers are reporting fewer but bigger sales.

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Bigger diamonds are becoming more important for more jewelers.

In 2011, 11 percent of jewelers were generating the bulk of their diamond dollars from gemstones that were 1.5 carats or larger. By 2014, that had climbed to 14 percent. This year, according to the 2017 Big Survey, it was 19 percent.

Our figures mirror those found by other industry observers, which show jewelers across the country reporting fewer but bigger sales, especially in diamonds.

INSTORE columnist David Brown’s Edge group has found diamond sales have rebounded from a low of 44 percent of store sales in 2008 to 55 percent this year. For some ideas on how to best deal with these changing market trends with your staffing, marketing and inventory management, read David’s recent column on the subject here.

Check out the chart below. You can see all the results of the 2017 Big Survey in the October edition of INSTORE.

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Chris Burslem is Group Managing Editor at SmartWork Media.

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The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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