US watch and jewelry sales experienced “the biggest monthly fall since the pandemic struck in 2020” in March, according to IDEX Online.
Jewelry sales fell 9.7%year-on-year while watch sales fell 7.1% during March – an average fall of 9.2%. In February, sales fell 6.8% (revised down from the initial 3% figure). Sales have been going down for the last six months, with the exception of a slight rise in January (revised up to 0.8%).
According to the analysis, the overall financial uncertainty “is likely to persist for the foreseeable future, impacting inflation and consumer spending.” As prices of basic foodstuffs soar, “spending on watches, jewelry and other luxuries will suffer.”
