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Monday, April 15, 2024

Surge in Preloved Luxury Sales Defies Online Retail Downturn

Despite the CBI reporting a significant downturn in online retail sales volume – the most substantial drop since 2009 – not all retailers are experiencing this decline. Amidst rising interest rates and the cost-of-living crisis, consumers are gravitating towards pre-loved luxury items for their Christmas shopping, offering an affordable alternative to new high-end purchases.

One such retailer thriving in this environment is S&R Jewellers, the online arm of Suttons and Robertsons. They specialise in pre-owned luxury jewellery and watches, offering them at substantially lower prices compared to new items. This approach has led to a 90% increase in their sales for 2023, and they anticipate further growth with their Black Friday sale featuring discounts up to 50%.

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’ ever-changing inventory includes popular brands like Tiffany, Cartier, Bvlgari, and Rolex. While they can’t guarantee specific items, their focus remains on stocking high-demand items like Cartier love bangles and sought-after Tiffany pieces. They boast one of the UK’s largest collections of pre-owned Tiffany jewellery.

For those interested in selling their luxury items, S&R Jewellers also purchases pre-owned jewellery, promising competitive prices for suitable pieces.

Discover more about buying or selling pre-owned luxury items at sandrjewellers.com.

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