January’s high jewellery sales in Australia highlight consumer confidence 

Australia’s independent jewellery retailers began the year on a positive note, with the latest analysis revealing an increase in sales in January. The latest report detailed a 1.7 per cent increase in sales at independent jewellery retailers on a year-on-year comparison. This marked a 15 per cent increase on a two-year comparison.

 Sales of diamond jewellery increased modestly by 1 per cent on a year-by-year comparison; however, a 20 per cent decrease on a two-year comparison was attributed to the impact of the COVID-19 pandemic. Colour gemstone jewellery decreased by 10 per cent on a year-on-year comparison, while silver and alternative precious metal jewellery rose by 1.4 per cent by the same metric. The latest confidence analysis among Australian consumers from ANZ-Roy Morgan revealed a notable increase.

 Households are feeling more confident about the economic outlook, with short-term economic confidence rising to its highest level since April 2022, while economic confidence over the next five years reached a 12-month high. On a state-by-state basis, improved confidence was recorded in Victoria, Queensland, Western Australia, and South Australia.