June 3, 2003
2002 Gold Sales Up in Value and Units
Dollar sales of gold jewelry were up 2% over 2001 to almost $16 billion in sales according to figures released by the World Gold Council at The JCK Show-Las Vegas. Unit sales increased 3.7% to over 206 million pieces. The average price for all gold jewelry was down 1.6% to $77.19.
Sales By Outlet
Traditional jewelry stores saw dollar sales increase by 1.8%, while unit sales were up 1.5%. Traditional jewelers sold $7.9 billion in gold jewelry, representing 63 million units. The average price paid at these stores was up 0.4% to $125.58.
Mass merchants saw dollar sales increase by 3.4%, while unit sales were up 5.8%. Mass merchants sold about $3.6 billion in gold jewelry during 2002, representing 101 million units. The average price paid at these stores was down 2.2% to $35.15.
Department stores saw dollar sales increase 1.1%, while unit sales were down 1%. Departments stores sold $3.1 billion in gold jewelry, representing 23 million units. The average price paid at these stores was up 2.1% to $131.78.
Non-retail store sales of gold jewelry rose 1.3% while unit sales were up 6.3% These sellers of gold jewelry sold $1.4 billion in merchandise, representing 19 million units. No average price paid data was available for this category.
Sales By Jewelry Category
Earrings sales in dollars rose 11%. These sales constitute 18% of the gold jewelry market in dollars and account for almost 36% in units.
Bracelet sales rose 4.2% in dollars, making up 13% of the market in dollars and accounting for 9.5% in units.
Neckwear sales fell 2.3% in dollars, making up 37% of the market in dollars and accounting for 27% in units.
Charm sales fell 3.8% in 2002, which WGC executives say doesnąt represent a current market trend, since charms have boomed in popularity this year. Charms constitute 7% of the market in dollars, accounting for 13.5% in units.
by Peggy Jo Donahue