Preliminary data from the US Commerce Department, as quoted by IDEX Online, shows that sales of fine jewelry and fine watches were up 1.6% in the US in March 2017, when compared to March 2016. Sales totaled an estimated $5.5 billion in March.
According to IDEX Online, the March increase “is the smallest since January 2016”. In February, sales of fine jewelry and fine watches were strong, rising 6.2% year-on-year to an estimated $7.1 billion. February marked the “sixth consecutive monthly gain that has been well above more modest gains reported during the early months of 2016”, according to IDEX Online.
IDEX Online is optimistic for the rest of the year, explaining that “while chain jewelers have been reporting generally soft sales for the most recent fiscal quarter ended January 2017, independent jewelers have generally been reporting stronger sales gains”. It forecasts that jewelry sales in the US will gain 4% year-on-year by the end of 2017.
