According to the latest IDEX Online index report, US sales of fine jewelry and fine watches rose by 8.9% year-on-year in August. According to preliminary data from the U.S. Commerce Department, sales totaled $6.1 billion.
IDEX Online explains that “US labor markets are tight and that’s leading to salary rises for workers across many sectors and regions, while stock-market fluctuations are having little influence on consumer confidence”. It is also optimistic ahead of the holiday season in the US, adding that “economic conditions are fortuitous for retail sales which are seen posting healthy rises on last year”.
Recently, Russian mining giant Alrosa presented the results of its global luxury and jewelry market research, noting that in the second quarter of 2018, “sales of decorative jewelry increased in all of the world’s key regions, except for India”. The average global growth rate was about 5% higher year-on-year.
