Throughout the recession, bridal has held up as the backbone of diamond jewelry sales. But that doesn't mean retailers can abandon diamond earrings, pendants and bracelets--even if the price points are lower.
What works
Non-bridal diamond jewelry sales make up 40 percent or less of total diamond sales for the majority (70 percent) ofNational Jeweler's product panelists.
Non-bridal sales are undeniably hurting, with 43 percent of respondents reporting that sales of fashion diamond jewelry are "significantly down" amid the economic crisis.
What is selling, the results say, are pieces priced between $750 and $1,000, a range marked by 30 percent of panelists as the "sweet spot" for sales.
Two categories of diamond jewelry emerged as the front-runners for jewelry sales: Diamond earrings were selected by 47 percent of respondents as the most popular non-bridal pieces in their store, while pendants/necklaces ranked second, the choice of 37 percent of panelists.
Keeping inventory flat
Not surprisingly, when asked about their game plans for the upcoming fourth quarter, the majority of respondents said they planned to keep their diamond jewelry inventory flat.
As one panelist put it, "I will keep inventory flat because I have enough."
Those who are stocking up are turning to bridal and lower price-point jewelry pieces to dazzle from their display cases.
One survey respondent said keeping fresh bridal jewelry in stock has brought the store much success.
"We add diamond bridal weekly and will continue," the respondent wrote. "This has greatly increased our sales. We are currently adding lower-end price point [diamond] rings and pendants."
To see the complete results of National Jeweler's Product Panel survey on diamond jewelry, download diamond facts.
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