60% of CMJ members report falling watch sales in December

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The Company of Master Jewellers, a buying group that works with 163 retail businesses across the UK, has reported that 38% of its members saw Christmas sales rise in 2016.

Another 26% of members, responding to a survey, said that sales were roughly the same as in December 2015, while 36% admitted sales fell in the key Christmas month.

Watches performed worse than jewellery for CMJ members, with 60% of retailers reporting watch sales down year-on-year. Only 18% said watch sales rose.

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The best-selling watch brands for CMJ members were Bering and Citizen; brands that have not enjoyed the same upsurge of sales experienced by luxury brands since the pound dropped in value following the Brexit vote.

GfK says UK sales of watches priced £100 – £500 were down 10.8% in the first 11 months of 2016, while sales of watches priced £500 – £1000 were down 6.2% for the same period.

On the jewellery front, charms and bracelets were the best-selling jewellery product for members. Retailers named Pandora and Nomination as their best-selling brands this Christmas, followed by Clogau and Hot Diamonds.

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