US Watch and jewelry sales in November 2022 fell 3.8% year-on-year. In October, sales decreased by 3.4%. September has been revised from a 1.3% increase down to 0.7%.
According to IDEX Online, sales of watches and jewelry “grew every month from June 2020,” peaking in April 2021. They kept growing, albeit more and more slowly, “until October, and now November, when they dipped below zero.” Jewelry sales fell by 4% and watch sales fell by 2.5% during November – an average fall of 3.8%.
In their analysis, IDEX Online explains that spending patterns on jewelry follow general spending patterns, concluding with: “There is a mood of cautious optimism, apparently, in the industry. Possibly with an emphasis more on the ‘cautious’ than the ‘optimism’”.
