SurveysMay 19, 2022
5 Predictions for Jewelry Retail in the Second Half of 2022SurveysJun 29, 2022
US Platinum Jewelry Demand Starts 2022 on a Strong Note
Retail ounce sales were up 23 percent year-over-year in Q1, according to the recent Platinum Jewellery Business Review.
PGI said sales of its Platinum Born collection, pictured here, doubled year-over-year in Q1.
New York—Despite supply chain challenges and economic obstacles associated with the Russia-Ukraine war, platinum jewelry sales in the U.S. started the year on a strong foot.
According to the Platinum Guild International’s most recent Platinum Jewellery Business Review, platinum jewelry ounce sales at PGI’s U.S. partners were up 23 percent year-over-year in the first quarter.
Bridal jewelry and gemstone fashion jewelry saw strong momentum during the quarter with double-digit growth compared to the prior-year period, while diamond fashion jewelry sales jumped by double digits, according to PGI.
PGI also noted its branded collection, Platinum Born, saw sales double in Q1.
All of this came despite the U.S. GDP contracting by an annualized rate of 1.5 percent in Q1, reflecting decreases in private inventory investment, exports, and government spending.
Also, in March, inflation across all categories rose to historic levels—8.5 percent year-over year. The stock market rose during the month but then stumbled again on the last day of the quarter.
The Consumer Confidence Index was up slightly in March following a February increase, though it was still below January levels, and the Expectations Index maintained its downward trend amid increased concerns over rising prices and the Russia-Ukraine war, challenges that are expected to limit spending further in the months ahead.
Still, PGI said its U.S. partners are predicting positive results for the rest of 2022, noting the jewelry industry may have some insulation against continued inflation as luxury consumers are not yet feeling the squeeze.
Consumer Sentiment
PGI also conducted a consumer sentiment survey, interviewing 2,000 jewelry buyers and wearers from ages 18 to 65 in four key markets—China, India, Japan, and the U.S.—who have bought or expect to buy fine jewelry.
Related stories will be right here …
According to the Platinum Guild International’s most recent Platinum Jewellery Business Review, platinum jewelry ounce sales at PGI’s U.S. partners were up 23 percent year-over-year in the first quarter.
Bridal jewelry and gemstone fashion jewelry saw strong momentum during the quarter with double-digit growth compared to the prior-year period, while diamond fashion jewelry sales jumped by double digits, according to PGI.
PGI also noted its branded collection, Platinum Born, saw sales double in Q1.
All of this came despite the U.S. GDP contracting by an annualized rate of 1.5 percent in Q1, reflecting decreases in private inventory investment, exports, and government spending.
Also, in March, inflation across all categories rose to historic levels—8.5 percent year-over year. The stock market rose during the month but then stumbled again on the last day of the quarter.
The Consumer Confidence Index was up slightly in March following a February increase, though it was still below January levels, and the Expectations Index maintained its downward trend amid increased concerns over rising prices and the Russia-Ukraine war, challenges that are expected to limit spending further in the months ahead.
Still, PGI said its U.S. partners are predicting positive results for the rest of 2022, noting the jewelry industry may have some insulation against continued inflation as luxury consumers are not yet feeling the squeeze.
Consumer Sentiment
PGI also conducted a consumer sentiment survey, interviewing 2,000 jewelry buyers and wearers from ages 18 to 65 in four key markets—China, India, Japan, and the U.S.—who have bought or expect to buy fine jewelry.
Results of the survey show that demand in most markets continues to recover from the COVID-19 pandemic, PGI said, however it noted that as it was conducted in mid-March, results don’t reflect the sentiments that might have been negatively affected by the latest lockdown measures in China.
Key insights from the March survey are as follows.
--The majority of U.S. consumers have plans to acquire non-bridal fine jewelry in the next 12 months—57 percent of surveyed consumers plan to buy jewelry for themselves and 62 percent plan to buy jewelry as a gift in the next 12 months, down from 63 and 67 percent in August 2021, respectively.
--More consumers plan to buy bridal in India, China, and Japan in the next 12 months compared with August 2021, while there is a decline in the U.S.
--American consumer sentiment towards the future economy has also dropped, with less than 40 percent believing it will improve within the next six months.
--Retail stores are still critical for jewelry sales and remain the top channel for jewelry purchases in all markets.
--Preference for online jewelry shopping has stayed relatively stable in Japan, China, and the U.S., while seeing a 3 percent increase in India.
--Consumers in the U.S. are showing a higher awareness of responsible sourcing of jewelry materials, and 72 percent of surveyed Americans said they believe responsibly sourced jewelry is important.
--Of all the key sustainability factors affecting jewelry buying decisions, 77 percent of Americans chose “responsibly sourced materials” as one of the top three important factors, which is up from 63 percent last August. Fifty-four percent chose “environmental impact,” and 51 percent chose “traceability of materials,” up 3 percent from last year’s survey.
More on Surveys
The Latest
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
