SurveysJun 29, 2022
US Platinum Jewelry Demand Starts 2022 on a Strong NoteSurveysJul 07, 2022
US Jewelry, Watch Sales Taper Off in May
The jewelry and watch market is expected to see more moderate growth this year compared with 2021.
A moonstone, Paraiba tourmaline, and diamond pendant from Omi Privé ($9,000). U.S. watch and jewelry sales slowed in May, according to preliminary data from the U.S. Bureau of Economic Analysis.
New York—U.S. watch and jewelry sales tapered off in May, government data shows.
Sales in the category were up nearly 11 percent year-over-year, according to preliminary data from the U.S. Bureau of Economic Analysis (BEA).
Sales were up 16 percent year-over-year in April and up 10 percent in March.
Though still on the rise, the double-digit growth in May 2022 pales in comparison with the triple-digit growth in May 2021.
Watch and jewelry sales for the full year are expected to rise but not nearly as high as last year.
In 2021, dubbed by industry analyst Edahn Golan as “the year of jewelry,” full-year sales in the category reached an estimated $115.29 billion, a 51 percent increase year-over-year, according to BEA data.
This year, as of May, full-year watch and jewelry sales are expected to reach an estimated $126.13 billion, a 9 percent year-over-year increase.
Related stories will be right here …
Sales in the category were up nearly 11 percent year-over-year, according to preliminary data from the U.S. Bureau of Economic Analysis (BEA).
Sales were up 16 percent year-over-year in April and up 10 percent in March.
Though still on the rise, the double-digit growth in May 2022 pales in comparison with the triple-digit growth in May 2021.
Watch and jewelry sales for the full year are expected to rise but not nearly as high as last year.
In 2021, dubbed by industry analyst Edahn Golan as “the year of jewelry,” full-year sales in the category reached an estimated $115.29 billion, a 51 percent increase year-over-year, according to BEA data.
This year, as of May, full-year watch and jewelry sales are expected to reach an estimated $126.13 billion, a 9 percent year-over-year increase.
The overall economy is expected to take a similar path of slowed growth.
“The economy is moving away from extremely strong growth toward moderate growth,” said National Retail Federation Chief Economist Jack Kleinhenz in the organization’s Monthly Economic Review.
In the July review, Kleinhenz gave an overview of the current economic situation.
Consumers are battling rising prices as the inflation rate hits a 40-year high.
Overall U.S. retail sales in May slumped, down 0.3 percent month-over-month, though up 8 percent year-over-year.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 1 percent month-over-month in May.
It was up nearly 9 percent year-over-year, the largest 12-month increase since December 1981.
The Federal Reserve recently raised the interest rate to combat inflation, which weighs down stock and bond returns and impacts consumer confidence.
Consumers are also feeling the effects of the war in Ukraine, which has led to geopolitical instability and has driven up energy prices and exacerbated supply chain issues.
Kleinhenz also shared his predictions for the next few years ahead, noting that while he doesn’t necessarily see a recession in the U.S.’s future, a “contracting economy” just short of recession levels is possible.
The Latest
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
