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sell out index 4
April 2024   S08 / Composite Index*  Evolution:
– Month-to-date 2024 vs MTD 2023:         +   0.5 %
– Year-to-date 2024 vs YTD 2023:               +   3.2 %



Retail sales statistics provide a prompt economic indicator which reflects the real business performance of industries.
For the first time ever in the watch & jewellery industry, the Sell-Out Index (SOI) measures the aggregated sales performances of the watch & jewellery specialized stores in selected markets on a monthly base. It is based on the sales records of the retail trade surveyed by national statistical offices.


The Sell-Out index is the only monitoring tool able to provide trusted, harmonized and comparable information on the monthly sell-out trends of the watch & jewellery industry in its following top markets:

  • USA
  • China
  • Hong-Kong
  • Japan
  • Singapore
  • Macau (quarterly base)
  • United Kingdom
  • Germany
  • France
  • Duty Free & Travel Retail (quarterly base)
  • SO8 Composite Index*


Sell-Out Index data is based on official sources, not third party data providers.
They are sourced from the monthly surveys of official national statistics departments. Retail sales statistics are an important economic indicator and one of the earliest short-term measures of economic activity. They are used in the compilation of the national accounts and widely used by private and public sector institutions.

They cover the watch & jewellery specialized distribution circuits (independent retailers, mono-brand boutiques, specialized W&J chains) and include their on-line retailing activity. In Hong Kong, in addition to the specialized circuit, watch & jewellery sales in Department stores are also included. In Japan, only sales in Department stores are reported.


Year-on-Year and Year-to-Date monthly evolutions of the total watch & jewellery specialized stores turnover are provided. They are calculated at current prices, and are not seasonally adjusted (except in the UK). It facilitates a harmonized comparative analysis with subscribers’ proprietary sell-out data.

Additionally, comparison with the evolution of the aggregated sales of retail goods of the markets allows for a much better understanding of the watch & jewellery industry dynamics in the market and its real, rather than reported, consumption patterns.

*Last, but not least, the SO8 Composite Index measures the overall performance of the sell-out of the watch & jewellery specialized retailers over time. This index represents a value-weighted measure of the sales evolution in the 8 most significant markets monitored in the Sell-Out Index (USA, China, Hong Kong, Japan, United Kingdom, Singapore, Germany and France).

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