According to preliminary data from the US Department of Commerce quoted by IDEX Online, jewelry and watch sales in the US rose by almost 31% year-on-year to total an estimated $22.3 billion in December 2021. The increase in December sales was the smallest monthly year-over-year gain in the past ten months.
According to the report, “for most jewelry sellers, 2021 Holiday Sales was a rousing success” as total estimated jewelry and watch sales in the US for the 2021 Holiday Selling Season (November-December) totaled an estimated $33 billion – up 34.1% year-on-year.
During 2022, IDEX Online is forecasting “more normal jewelry sales growth, perhaps in the mid-to-high single digit range, though inflation could push that growth to low-double digits – in the teen range.” These gains, they add, “are well below the double-and-triple digit gains over the past year or so. It may be time for jewelry retailers to adjust their sales expectations in 2022 and beyond.”
Read the full report here.
