SurveysJun 15, 2021
NRF Raises 2021 Retail Sales ForecastSurveysJun 22, 2021
Diamond Jewelry Sales Strong, Says NDC
Industry data shows sales in the category were on the rise in recent months and surpassed pre-pandemic levels.
An 18-karat white gold pair of “Aleluiá” diamond earrings by Pasquale Bruni ($37,000). Diamond sales are particularly strong among millennial customers of late, according to the Natural Diamond Council.
New York—Diamond jewelry is having a moment.
Based on industry data, the Natural Diamond Council found sales of diamond jewelry have been on the rise in recent months.
In the period from March to May, diamond jewelry sales were three times what they were during that period in 2020 and 30 percent higher than pre-pandemic 2019 sales.
In 2020, consumers were looking to purchase items that carried both value and meaning, said the NDC.
This year, as COVID-19 restrictions ease and social events return, the growth has continued as consumers look to celebrate.
Millennial shoppers in particular are driving the growth, said the NDC.
Engagements were on the rise throughout 2020 and into this year, sparking demand for natural diamond engagement rings.
In the United States, weddings are back on the schedule as restrictions ease on large gatherings, further increasing the demand for diamond jewelry.
“American consumers are exhibiting a voracious appetite for diamond jewelry,” said industry analyst Edahn Golan in a press statement.
“These purchases are also a far more significant share of consumer expenditure. This is testimony of our ingrained need to celebrate life."
Aside from the wedding season, the reinstatement of all types of social gatherings has given consumers a chance to dress up again and dust off their jewelry boxes.
A recent Mastercard SpendingPulse survey found overall jewelry sales more than tripled year-over-year in May as COVID-19 restrictions lifted and reopenings continued.
Sales in the category were up 203 percent year-over-year in May and up 45 percent when compared to pre-pandemic levels in 2019.
Related stories will be right here …
Based on industry data, the Natural Diamond Council found sales of diamond jewelry have been on the rise in recent months.
In the period from March to May, diamond jewelry sales were three times what they were during that period in 2020 and 30 percent higher than pre-pandemic 2019 sales.
In 2020, consumers were looking to purchase items that carried both value and meaning, said the NDC.
This year, as COVID-19 restrictions ease and social events return, the growth has continued as consumers look to celebrate.
Millennial shoppers in particular are driving the growth, said the NDC.
Engagements were on the rise throughout 2020 and into this year, sparking demand for natural diamond engagement rings.
In the United States, weddings are back on the schedule as restrictions ease on large gatherings, further increasing the demand for diamond jewelry.
“American consumers are exhibiting a voracious appetite for diamond jewelry,” said industry analyst Edahn Golan in a press statement.
“These purchases are also a far more significant share of consumer expenditure. This is testimony of our ingrained need to celebrate life."
Aside from the wedding season, the reinstatement of all types of social gatherings has given consumers a chance to dress up again and dust off their jewelry boxes.
A recent Mastercard SpendingPulse survey found overall jewelry sales more than tripled year-over-year in May as COVID-19 restrictions lifted and reopenings continued.
Sales in the category were up 203 percent year-over-year in May and up 45 percent when compared to pre-pandemic levels in 2019.
More on Surveys
The Latest
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
