The Company of Master Jewellers (CMJ) has reported a 6.5% year-on-year increase in group sales during the “golden quarter” from September to December 2024, underscoring strong buyer confidence among its independent retail members ahead of the festive season.
A survey conducted by CMJ among its retailer members revealed that 71% experienced higher sales over Christmas compared to the same period in 2023. Stock sell-through figures in early January 2025 further confirmed a robust Christmas trading period for members.
Key Role of the CMJ Autumn Trade Event
The CMJ Autumn Trade Event was instrumental in the quarter’s performance, particularly through the introduction of the “CMJ Pay” initiative. This initiative allocated credit to full, shareholding retail members, calculated based on their turnover within the group. The credit, usable exclusively with approved suppliers at the event, supported members in preparing stock for the festive season.
Commenting on the initiative, CMJ Managing Director Emmet Cummins said:
“Our fundamental aim as a group is to protect the position of independent retail jewellers on the high street.
“We introduced CMJ Pay as a way to support our members to be able to buy with confidence ahead of the key festive period – and this initiative clearly worked, which is why we will once again be providing CMJ Pay to our retailers at our next Trade Event.”
Strong Sell-Through and Challenges Ahead
Post-Christmas stock sell-through figures suggest the initiative was effective. Cummins noted that these results, along with feedback from members who reported positive Christmas trading, indicate a strong starting position for CMJ and its retailers in 2025.
However, Cummins acknowledged that not all members shared in this success:
“Of course, there are some retailers amongst our membership who did not have such a good Christmas, and we plan to share ideas and learnings with the wider membership to support those businesses that found it more challenging.”
