Press Releases

Impressive Retail Jewelry Sales Reported for First Quarter 2022

Retail jewelers seem to be purchasing more for stock and quickly replacing fast sellers to avoid potential inventory shortages.

Published

2 years ago

April 27, 2022

Press Releases

(PRESS RELEASE) Retailers are reporting strong sales during the first quarter of 2022. Whether it is the increase in lab grown diamonds, loose diamond bridal sales, diamond studs, tennis bracelets and tennis necklaces, consumers are buying

Retail jewelers seem to be purchasing more for stock and quickly replacing fast sellers to avoid potential inventory shortages. According to Mastercard Spending Pulse Retail Jewelry sales are up 11.9% over 2021. Comparatively, they are up over 78.8% from 2019, pre pandemic.

At GN Diamond, we have seen retailers expand their lab grown diamond inventory as this market has exploded. GN continues to increase their inventory in lab grown diamonds with the goal to have one of the largest inventories in the marketplace.

GN has partnered with US-based Diamond foundry, who is one of the strongest vendors for lab grown diamonds. They offer a variety of shapes and sizes and their rough is whiter and brighter with 95% being an E,F,G color and VS clarity. Diamond Foundry specializes in creating elongated rough which allows the cutting process of fancy shapes to be energy efficient and cost-effective.

Lab Grown diamond studs and diamond jewelry certainly may account for the large growth in retail jewelry sales for 2022. This trend continues to gain traction among shoppers of all ages, but especially millennials.

Natural diamond sales continue to be on a strong path especially as the bridal season is upon us. GN Diamond offers a 100% sell through guarantee on all natural, loose diamonds and diamond jewelry. This takes the risk out of buying for stock now and helps to increase sales. Buyers, in general, want to buy that very same day; so not having the right inventory on hand may jeopardize a sale.

GN is open 7 days a week at www.gndiamond.com with free overnight shipping. Feel free to call 800-724-8810, or email any questions to sales@gndiamond.com.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”