We continue our in-depth coverage of the recently released 2014 Jewelers of America Cost of Doing Business Report, an invaluable benchmarking tool for retail jewelers that compiles 2013 financial data from a cross-section of jewelers. One of the sections of the 80-page report that we find most useful is the Merchandise Sales Profile. Jewelry sales distribution stays relatively consistent year-to-year for jewelers surveyed, but the report revealed some interesting areas of product growth and decline in 2013. Click on the infographic for a full view.
Bridal jewelry accounted for 36.9% of total jewelry sales in 2013, an increase from 35% in 2012. The 2013 median engagement ring and women's wedding band unit prices were $4,000 and $1,109, respectively. In general terms, diamonds (jewelry and loose) account for about half of all products sold by retail jewelers. In 2013, they accounted for 54%, up from 51% in 2012. Jewelry repairs (11.1% of sales) and colored stones (8% of sales) made up the second highest jewelry merchandise sales categories. More insightful benchmarking data can be found in the 2014 Jewelers of America Cost of Doing Business Report, to get a copy visit www.jewelers.org/codbr/.