Watch and jewelry sales in the US increased again in October as the holiday shopping season gained momentum, according to a report by IDEX Online.
The report highlighted an 8.8% year-over-year growth in watch and jewelry sales compared to October 2023, marking one of the most significant increases in over two years. The US Department of Commerce, which released the data, also revised September’s sales figures upward, from an initial 8.4% increase to 10.3% – the largest spike recorded since April 2022.
October represented the 13th consecutive month of growth in watch and jewelry sales, following a year of consistent declines from September 2022 through September 2023.
Mastercard’s SpendingPulse study projects a 3.2% growth in US retail sales during the holiday shopping period from November 1 to December 24.
