According to a recent analysis published by IDEX Online, during May, the growth in US sales of jewelry and watches “leveled off again […] back to March levels after something of a spike in April.”
Year-on-year, sales went up 10.5%, but despite healthier figures when compared with 2019, there is “clearly a decline since the euphoric post-lockdown days of Spring 2021.” Jewelry sales rose 10.8% and watch sales were up 8.8% – an average increase of 10.5%.
According to IDEX Online, interest rate rises, record inflation, fears of a recession and a slowdown in the growth of consumer spending have slowed down spending on watches and jewelry in the US in May, but they “are still increasing at steady rate, though still below the latter half of 2020, after the initial shock of the Covid pandemic.”
