SurveysApr 28, 2022
Inflation Not Taking Huge Toll on Consumer Confidence, YetSurveysMay 10, 2022
US Jewelry, Watch Sales Slowed in March
Full-year watch and jewelry sales are still expected to rise, but not quite as sharply as last year.
A sapphire and garnet ring by Stephen Silver, featuring a 6.03-carat cushion-cut violet purple sapphire with purple garnets and diamonds ($28,900). U.S. watch and jewelry sales were up nearly 9 percent year-over-year in March, according to preliminary data from the U.S. Bureau of Economic Analysis.
New York—U.S. watch and jewelry sales slowed in March, government data shows.
Sales in the category were up nearly 9 percent year-over-year, according to preliminary data from the U.S. Bureau of Economic Analysis (BEA), down from 28 percent growth in February.
While still positive, the numbers are a far cry from March 2021, when watch and jewelry sales more than doubled, rising 103 percent year-over-year.
Watch and jewelry sales for the full year are expected to rise but not nearly as high as last year.
The government’s data what panelists said at a session at the recently concluded American Gem Society Conclave—that jewelry sales seem to be coming down from their pandemic peak, a trend that panelists attributed to a return to spending on travel and experiences.
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 preliminary BEA data.
In 2022, 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.
Year-over-year growth in jewelry and watch sales reached its zenith last April, up 218 percent, more than tripling when compared to April 2020, a month after COVID-19 lockdowns began.
Related stories will be right here …
Sales in the category were up nearly 9 percent year-over-year, according to preliminary data from the U.S. Bureau of Economic Analysis (BEA), down from 28 percent growth in February.
While still positive, the numbers are a far cry from March 2021, when watch and jewelry sales more than doubled, rising 103 percent year-over-year.
Watch and jewelry sales for the full year are expected to rise but not nearly as high as last year.
The government’s data what panelists said at a session at the recently concluded American Gem Society Conclave—that jewelry sales seem to be coming down from their pandemic peak, a trend that panelists attributed to a return to spending on travel and experiences.
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 preliminary BEA data.
In 2022, 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.
Year-over-year growth in jewelry and watch sales reached its zenith last April, up 218 percent, more than tripling when compared to April 2020, a month after COVID-19 lockdowns began.
Overall U.S. retail sales in March followed a similar path of muted growth, up 0.5 percent month-over-month, but down from an 0.8 percent rise in February.
Consumers have continued to battle rising prices.
Prices hit a four-decade high in March, driven by increasing food and energy costs coupled with strong consumer demand and supply chain constraints.
The consumer price index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 1.2 percent month-over-month in March.
It was up 8.5 percent year-over-year, the largest 12-month increase since December 1981.
In an effort to combat inflation, the Federal Reserve raised its benchmark interest rate by half a percentage point last week, its largest interest rate hike in more than two decades.
Editors' Picks
Sponsored by
More on Surveys
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
