Retail sales among members of the National Association of Goldsmiths’ Executive Development Forum were up 7.8% and like-for-like sales were up 1.2% between January and July 2015, according to new figures.
Results of this nature will now be released monthly following feedback from EDF members about a lack of accessible industry performance data.
The data will enable EDF members to benchmark their performance against other retail jewellers in areas such as gross margins, stock turns, average sales prices and product categories.
Last year, members’ retail sales exceeded £38 million, an increase of 6.4% on 2013.
This week the EDF reported sales for the month of July up 0.9% on the same month last year and like-for-like sales down 5%, with retail sales for the period January to July up 7.8% and like-for-like sales 1.2% up.
Since 2005 the EDF has provided an opportunity for independent jewellery retail owners and directors to meet with like-minded professionals in a confidential forum that enables them to benchmark their business with other jewellery businesses, develop their strategic thinking, invest in their own professional development and ultimately grow their business.
Michael Donaldson, the EDF Facilitator, explains: “This month’s performance report suggests that we are still in a very difficult market yet with the right marketing mix, along with the shared experience and expertise of the members and more than a touch of courage, you can outperform the market”.
For further information about the EDF, please email firstname.lastname@example.org