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

3 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.

Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success

After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone. Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently. The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.