The IDEX Polished Price Index, published by IDEX Online, went up 36% year-on-year in July. The seemingly sharp rise in jewelry and watch sales, however, “actually reflects the impact of lockdowns last year more than anything else.”
Sales in July totaled $115 million, compared to $120 million in June and $114 million in May. Sales of jewelry were up 36.7% year-in-year, and watches were up 33.2%.
According to IDEX Online, “monthly sales of US watches and jewelry have been averaging $110 million” since the start of 2021. From January to July 2020, sales averaged just over $66 million – a rise of “two thirds so far this year, primarily due the Covid recovery.” In addition, consumer demand in China and the US “remains buoyant, suggesting much of the same in coming months, until we hit the peak selling period of November and December.”
