SurveysMay 10, 2022
US Jewelry, Watch Sales Slowed in MarchSurveysMay 19, 2022
5 Predictions for Jewelry Retail in the Second Half of 2022
From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.
A pair of 18-karat rose gold earrings set with white, fancy yellow, and fancy brown diamonds from Gismondi 1754’s “Clip” collection. Jewelry marketing company Fruchtman Marketing recently released its “State of Jewelry Retail” report, giving its predictions for the year ahead.
New York—Jewelry retailers have seen spectacular sales growth the past two years, but there’s mounting evidence that a slowdown is on the way.
In its latest “State of Jewelry Retail” report, Fruchtman Marketing outlines its expectations for the second half of the year.
“With all the turmoil in the news, including rising interest rates, inflation and the state of the market, there are a lot of unknowns as retailers move forward in 2022,” said the report.
Here are five key takeaways.
Sales growth is expected to slow.
Industry analyst Edahn Golan dubbed last year the “year of jewelry,” and for good reason.
Full-year sales in the watches and jewelry category reached an estimated $115.29 billion, a 51 percent increase year-over-year, according to preliminary data from the U.S. Bureau of Economic Analysis.
Jewelry sales in 2022 are expected to grow, but not nearly as aggressively as last year.
This year, as of March, full-year watch and jewelry sales are expected to reach an estimated $125.53 billion, about a 9 percent year-over-year increase.
Fruchtman predicts year-over-year growth of between 4 and 8 percent.
“We think it will be tough to hit double-digits over last year, which saw double-digit increases the year before,” the report noted.
Two major jewelry retailers, Pandora and Brilliant Earth, both also recently predicted a slowdown ahead.
Travel may not be as strong of a competitor as originally thought.
Travel tends to be jewelry’s biggest competitor in the fight for consumer discretionary dollars, and travel being restricted because of COVID-19 has worked to jewelers’ advantage.
An easing of travel restrictions coupled with the pent-up demand for vacations is a cause for concern for jewelers, but rising travel costs may soften the impact this year.
“One only has to look at what the cost of a roundtrip fare was pre-pandemic [compared] to now,” said the report.
The cost of airfare rose 19 percent from March to April, according to data from the Bureau of Labor Statistics, marking the highest-ever monthly increase since the agency began compiling that data.
Year-over-year, the cost of airfare has climbed 33 percent.
Inflation is taking a toll on shoppers.
The cost of airfare is rising, and so is the cost of nearly everything else.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 0.3 percent month-over-month in April.
It was up 8.3 percent year-over-year, nearing the highest level seen since the summer of 1982.
Prices are rising at the gas pump and in the grocery aisles, while housing costs are also going up.
“This will affect nearly every consumer. If you are a lower to a moderately priced retailer, it will most likely affect you more,” said the report.
“If your customer is more ‘middle class’, they’re getting squeezed the most.”
For wealthier customers, how the stock market is performing and other factors will impact their buying decisions, the report noted.
Related stories will be right here …
In its latest “State of Jewelry Retail” report, Fruchtman Marketing outlines its expectations for the second half of the year.
“With all the turmoil in the news, including rising interest rates, inflation and the state of the market, there are a lot of unknowns as retailers move forward in 2022,” said the report.
Here are five key takeaways.
Sales growth is expected to slow.
Industry analyst Edahn Golan dubbed last year the “year of jewelry,” and for good reason.
Full-year sales in the watches and jewelry category reached an estimated $115.29 billion, a 51 percent increase year-over-year, according to preliminary data from the U.S. Bureau of Economic Analysis.
Jewelry sales in 2022 are expected to grow, but not nearly as aggressively as last year.
This year, as of March, full-year watch and jewelry sales are expected to reach an estimated $125.53 billion, about a 9 percent year-over-year increase.
Fruchtman predicts year-over-year growth of between 4 and 8 percent.
“We think it will be tough to hit double-digits over last year, which saw double-digit increases the year before,” the report noted.
Two major jewelry retailers, Pandora and Brilliant Earth, both also recently predicted a slowdown ahead.
Travel may not be as strong of a competitor as originally thought.
Travel tends to be jewelry’s biggest competitor in the fight for consumer discretionary dollars, and travel being restricted because of COVID-19 has worked to jewelers’ advantage.
An easing of travel restrictions coupled with the pent-up demand for vacations is a cause for concern for jewelers, but rising travel costs may soften the impact this year.
“One only has to look at what the cost of a roundtrip fare was pre-pandemic [compared] to now,” said the report.
The cost of airfare rose 19 percent from March to April, according to data from the Bureau of Labor Statistics, marking the highest-ever monthly increase since the agency began compiling that data.
Year-over-year, the cost of airfare has climbed 33 percent.
Inflation is taking a toll on shoppers.
The cost of airfare is rising, and so is the cost of nearly everything else.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 0.3 percent month-over-month in April.
It was up 8.3 percent year-over-year, nearing the highest level seen since the summer of 1982.
Prices are rising at the gas pump and in the grocery aisles, while housing costs are also going up.
“This will affect nearly every consumer. If you are a lower to a moderately priced retailer, it will most likely affect you more,” said the report.
“If your customer is more ‘middle class’, they’re getting squeezed the most.”
For wealthier customers, how the stock market is performing and other factors will impact their buying decisions, the report noted.
Engagement ring shoppers may prioritize value.
Consumers are also contending with rising mortgage interest rates and rent prices, noted the report.
With the cost of living rising ever higher, many young adults live at home with their families longer and when it’s time to pop the question, they might have less to spend on an engagement ring.
“This can go either way on the engagement ring front. They may spend more money on the ring if they are no longer in the market for a home. Or they may need to have more money to put down on that home, reducing their spending or looking to [natural diamond] alternatives such as lab-grown, less expensive colored gemstones, or repurposing an heirloom.”
The average age of an engagement ring purchaser is 32, said the report, with many people in this demographic saving up longer for larger purchases.
“This age group will be hyper-focused on ‘value’. You may see carat size go down. Or you may see less importance on quality in cut and color sacrificed to purchase that larger diamond. You also may see more inquiries about lab-grown diamonds,” said the report.
Rising gas prices may impact foot traffic.
U.S. retail gas and diesel prices hit a record high last week with energy costs up 30 percent year-over-year in April.
“Foot traffic might decline,” said the report. “On the other hand, if that customer is making the effort to come to your store, your closing ratios should be higher.”
Though foot traffic may take a hit, online shopping is expected to increase, so jewelers should fine-tune their websites now, if they haven’t already.
“Getting your website in tip-top shape will be critical in 2022. If you actually sell online, you should see an increase this year,” said the report.
“If you don’t, there’s no better time than now to seriously make this change.”
Editors' Picks
Sponsored by
More on Surveys
The Latest
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsSep 23, 2026
Kay Jewelers’ New Campaign Goes ‘All In’ on LovePart of its brand relaunch, the marketing around the campaign includes a contest involving a jacket set with 550 diamonds.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
