Gaurav Khandelwal’s Post

❌  The Truth Behind Those “Too-Good-To-Be-True” Jewelry Discounts Ever seen "60% OFF" or "70% OFF" in jewelry stores? Sounds amazing, right? But here’s the truth: it’s all about Triple Keystone Pricing. 👉  What’s that? Stores mark up jewelry 3x its cost! So, a $100 ring is sold for $300. Even with a “50% off” sale, you're still paying $150. 50% more than it cost the store. 👉 Those huge discounts? Usually, on older pieces, 18-24 months in stock. Not the newest trends! 🔑 Pro tips: ✅ Look for online stores offering factory direct pricing. ✅ Consider made-to-order rings customized to your preferences. ✅ Steer clear of stores flashing huge discounts—they’re often not the best deals! ✅ Be smart, not swayed by the signs!

👨🔧 Every company and distributor wants to find the source supplier, but it is always difficult to do so. 👉 Because: 1. You don't trust them. No one can trust someone who only contacts through email. 2. You didn't go to the factory to check it out. You can't visit the factory for various reasons. 3. You can't believe that a new supplier can do what you want in terms of quality control and after-sales service. 💪 There are many other reasons, but it is also a very brave thing to let the source factory take the courage to do it. Because they have to invest in various equipment, unlike trading companies, investing in employees and various platforms. A responsible source factory always puts quality and after-sales first. Only a stable customer base can support the continued development of the factory. 🙏 www.qdmyypacking.com WhatsApp：+86 151 9257 7532

The Latest data is on Tenoris, here are a few findings: June 2024 was a slow month for the jewelry market. Jewelry sales at US specialty jewelers softened 2.1%, as the number of units sold declined 3.5% year over year. Primarily, it was weak demand for natural diamonds that dragged down sales. According to Tenoris data collected from more than 2,000 US jewelry retailers, retailers’ cost of goods sold decreased 3.2% year over year, aiding them increase their overall gross margins to 50% during the first six months of 2024. Revenue from finished jewelry and diamond sales softened 0.6% in the first half of 2024. At the same time, the average retail price of sold items during the period rose 0.7%. See the full report here: https://lnkd.in/dVZgcsNB

Mother’s Day sparked a promising trend in the jewelry industry this year. With sales surpassing last year's figures, US consumers are showing signs of increased demand. In May, jewelry sales rose by 1.8% year over year, with a 2% increase in average expenditure per item. The Jewelry Index reflects this positive shift, with a continuous upward trend since March. Notably, sales surged by 5% on May 10-11 compared to the same period in 2023. Retailers are also optimistic about the year ahead, as evidenced by the positive outcomes at recent trade shows in Las Vegas. Exhibitors reported heightened buyer demand, indicating a strong market outlook. However, the demand for loose lab-grown diamonds at JCK was subdued, resulting in notably reduced prices. Read more about the latest trends in jewelry sales from Tenoris: [Link to the article](https://lnkd.in/d7j-upjC) #JewelryIndustry #ConsumerDemand #RetailTrends

I'm a little surprised the article didn't directly make the connection between the rise of custom jewelry and the lag at Signet and other major chains. Doing custom jewelry manufacturing at that kind of scale consumes significantly more time, labor, and administrative energy than doing stock pieces with higher attendant risk of loss from mistakes. An independent jeweler with in-house shop or a partnership with a custom manufacturing company can handle the workload they receive and more easily absorb the risk level, but for a massive company like signet it's exponentially more complicated. This really sets independent jewelers in a position where they can curate their customer experience to what customers want and adapt for new generations of jewelry consumers. While it's not impossible, it'll take some serious retooling of the chain stores approach to try and capture more of this market

A small 1.3% rise in sales at US jewelers in April. The increase in revenue was fully spurred by a 2.5% increase in the average consumer expenditure per unit purchased. A few of the figures: Natural diamond jewelry sales rose 1%, Prices of LGD-set DERs declined, Loose LGD was 57% of loose diamond sales, but just 25% of revenue. Here is an issue: LG prices are down, but gross margins and unit sales are up. What does it impact gross profits? Our team took a look at that and have some findings. https://lnkd.in/d2i8fHUv

A small 1.3% rise in sales at US jewelers in April. The increase in revenue was fully spurred by a 2.5% increase in the average consumer expenditure per unit purchased. A few of the figures: Natural diamond jewelry sales rose 1%, Prices of LGD-set DERs declined, Loose LGD was 57% of loose diamond sales, but just 25% of revenue. Here is an issue: LG prices are down, but gross margins and unit sales are up. What does it impact gross profits? We took a look at that and have some findings. https://lnkd.in/dDw4s8MQ

The latest data from Tenoris: US specialty jewelers experienced a 2.1% decrease in jewelry sales, with a 3.5% decline in units sold compared to the previous year, driven by weak demand for natural diamonds. Based on data from over 2,000 US jewelry retailers, the cost of goods sold decreased by 3.2% year over year, contributing to an increase in overall gross margins to 50% in the first half of 2024. Despite this, revenue from finished jewelry and diamond sales softened by 0.6% during the same period, while the average retail price of items sold saw a modest 0.7% increase. For a more detailed view of market trends and performance, check out the full report here: https://lnkd.in/dw-8Gtnf

2024 ended on a high note and overall good news, but not all was awesome with the holiday season. Loose Natural (and loose lab as well) did not do very well during the holiday season, but it seems like the price drops helped stabilize that a bit by encouraging some to go larger. This could also be a result of the trend where because large lab stones are so common that it's pushing the expectation for natural up as well. Finished natural diamond jewelry were also following this trend to larger pieces. Overall with natural diamonds now it's higher price points and lower units which reflects their shift to a more defined luxury product. Whether Lab becomes more of a fashion item or retains it's fine jewelry bona fides remains to be seen, but with the sheer volume of news around lab grown 2025 will be a formative year in the diamond market for lab and natural and how they play with and against each other. But it's still a cause to celebrate that the news as a whole was positive for independent jewelers in the US. It's a great way to start the new year. https://zurl.co/4doAS