August 27, 1999
Independents' Sales Strong in '98
Average sales for independent retail jewelers grew 9.3% in 1998 over the previous year, according to the Jewelers of America Annual Business Survey.
Platinum jewelry (up 18.1% over 1997), diamond jewelry (up 10%) and sterling silver (up 9.3%) saw the greatest sales growth. Other categories such as karat gold and cultured pearls did not increase as significantly, although sales still increased an average 4% to 6% in those categories.
Holiday sales increased for more than half of survey respondents compared to their '97 holiday season. Holiday sales overall increased 8.9%.
Half of the survey respondents are optimistic their sales will increase in the first half of 1999, while 40.6% expect no change.
Read JA's report here: ja.polygon.net/trade/news/survey.html.
- by Stacey King