US jewelry and watch sales grew in November but at a slower rate compared to previous months, according to IDEX Online.
According to the report, US jewelry and watch sales increased by 5.8% year-on-year, compared to 9.7% in October and 10.1% in September, based on data published by the US Department of Commerce. Jewelry sales rose by 5.7%, while watch sales increased by 6.3%.
The data highlights the continuation of a positive trend throughout 2024, during which monthly growth reached at least 2.6%. Much of the growth was driven by retail giants such as Amazon, Costco, and Walmart, which accounted for 66% of all jewelry and watch sales in the US.
Jewelry sales in the US increased by 5.1% in the first quarter of 2024, 4.4% in the second quarter, and 8.3% in the third quarter. The trend remained positive in November, despite the slower growth rate. November marked the 14th consecutive month of increased jewelry and watch sales in the US, following a prolonged period of declining sales at the end of 2022 and throughout most of 2023.