Preloved Luxury Sales Boom Despite Reports of Online Retail Downturn

LONDON, United Kingdom, 21 November 2023 – A recent report from the CBI has shown a significant *downturn in online retail sales volume with recorded drops year to October marking the biggest decline since 2009 when the data was first collected.  

 

This trend is blamed largely on rising interest rates and the cost-of-living crisis, with the CBI describing the retail sector as ‘perilous’.  

 

However, there are some retailers bucking this trend. 

 

Reluctant to do without longed-for luxuries this Christmas, shoppers are turning to retailers such as pre-loved jewellery seller S&R Jewellers, the online presence of Suttons and Robertsons, where they can still splash out on luxury gifts but with a considerably reduced-price tag.  

 

Unlike other online retailers who are experiencing a drop in sales, S&R Jewellers reports a 90% increase so far in 2023, and with its Black Friday sale offering discounts of up to 50% off, the company anticipates a further lift in sales before the year end.

 

The jeweller, who specialises in preowned luxury jewellery and watches, offers fully authenticated items at significantly lower prices than if purchased new.  All items are guaranteed and have been repaired as necessary and polished to as near new condition as possible.  Many items are also sold with the original packaging.   

 

Jim Tannahill, Managing Director said: “The cost-of-living crisis doesn’t stop people wanting to spend on luxury items, but we are seeing a huge increase in people turning to pre-loved jewellery and watches as they offer significant savings off of new retail prices.” 

S&R Jewellers has an ever-evolving stock which is available to view and buy online, although customers who wish to inspect the goods personally may do so at any of its four London showrooms.  

“Tiffany, Cartier, Bvlgari and Rolex are amongst the most popular brands we are asked for, and many of our customers contact us to look out for specific items.  Whist we can’t guarantee to find exactly what people are looking for, we are focussed on keeping a high stock level of all the most popular jewellery and watch brands, focussing on popular pieces such as Cartier love bangles and popular Tiffany pieces. In fact we have one of the largest collections pre-owned Tiffany jewellery in the UK.” 

 

S&R will also buy unwanted jewellery pieces. “We are always happy to prospectively inspect pieces with a view to purchase, and we offer the best possible prices to anyone who has suitable items they wish to dispose of,” confirms Jim.        

 

For more information on buying or selling preowned luxury jewellery and watches visit sandrjewellers.com.   

ENDS