Tenoris’ Post

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

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

US jewelry sales experienced a 2.5% increase in November, driven by a 4.6% year-over-year rise in the average expenditure per item by consumers.   This uptick in jewelry expenditure is part of a trend indicating a turnaround in US demand for fine jewelry. So far this year, sales have increased almost every month, as did consumers’ average expenditure.   The rise in expenditure has offset the decline in unit sales, which has been another notable trend over the past year.   Sales of diamond jewelry, both finished and store-set, exhibited a similar pattern, albeit with different dynamics. While revenue remained stable and unit sales fell, the average expenditure surged by 5.4%.   Additionally, the results for November may have been influenced by a shift in holiday selling days, as two days typically in November were moved to December 1-2. https://lnkd.in/dRi3uPWq

US jewelry sales remained flat in August following a period of growth in July, according to Tenoris. Retailers have seen a surge in inventories recently, particularly in lab-grown jewelry, indicating potential challenges ahead. Natural diamond jewelry sales decreased by 3% year over year, while lab-grown jewelry sales saw a 10% increase despite a 17% decline in average price. This trend warrants attention as it may signify underlying market shifts. Read more: https://lnkd.in/dAPvmDZC

There is a lot of meat in this post. My simple takeaway is that the battle ground for LGD is shifting to finished goods which is a healthy trend. I am not sure about the inventory buildup of LGD jewellery because unlike loose LGD it is harder to memo finished LGD jewellery. This may explain the inventory buildup. It was never clear to me how much memoed loose LGD are in the retail pipeline and perhaps Edahn Golan can clarify. Memoed goods are off balance sheet so how are they measured in the Tenoris system ? I am also a bit puzzled by the loose LGD buildup at the retail level since I thought a lot was memoed. Are retailers buying such goods now ? As I said there is a lot of data to digest. It might be useful if Edahn can summarise the key takeaways especially for the LGD sector. Thank you in advance.

Jewelry sales in the U.S. remained steady in August as consumers purchased more items but spent less per piece, raising some concerns for the industry. Nevertheless, there are positive signs, according to diamond analyst Edahn Golan #diamondnews #diamonds #diamondmarket #diamondsales #jewelrysales #diamondanalysis #diamondindustry #diamondjewelry

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

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

Despite a strong holiday season, the US fine jewelry and diamond retail sector saw a 4.9% revenue decline in January, attributed to reduced loose diamond sales. Edahn Golan provides insights into the latest market trends #diamondnews #diamonds #diamondsales #diamondmarket #diamondanalysis #diamondinsights #diamondjewelry #jewelrysales #jewellerysales

Seems like the market is following the usual early summer dip, but with some aspects exaggerated from the shake up lab grown is causing. We're seeing a trend back into natural now although LG is still doing consistent business. This might show the pendulum is swinging back to natural as Tenoris notes about the size of naturals rising in June and there being a boost in the 20-50k range of natural finished goods even if LG continues to gain overall market share. With loose prices dropping for higher qualities and staying firm on D-G/SI goods there's definitely a demand in the US for natural diamonds, but there's still more work to do before the market settles into a new norm with lab grown in a distinct jewelry product category.