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28/07/2007
According to the World Gold Council gold jewelry sales increase 6% in units in the first quarter of 2006.
Discount department stores reported the biggest increase for the first quarter, followed by chain stores, department stores and independent jewelry stores. Only catalog showrooms, a shrinking retail sector, reported lower sales.
By type of jewelry, earring sales showed the greatest growth (11.2%). Earrings frequently are self-purchases by women, the largest buyers of gold jewelry and the target of many WGC promotional programs. Non-chain necklace purchases increased 6.8%, says WGC, and bracelets, gold rings and charm sales grew 4.5%. Neck chain sales, the single largest category, increased 4.9%, while gold wedding ring sales decreased 1.5%. Total gold jewelry sales, excluding watches and gem-stones set in gold, totaled $1.36 billion.
The impressive first-quarter is not a complete surprise since gold jewelry held
strong against competitive discretionary categories even through the difficult fourth quarter of ‘06,” says the World Gold Council. (Sales for 2006 held virtually even with 2005 despite the slowing market.)
For comparison’s sake, total retail sales increased 3.9% and women’s apparel sales rose 3.6% in the first quarter, according to the US Department of Commerce. The data is based on confidential reports from thousands of jewelry stores nationwide.
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