A disappointing start for the year. Overall US fine jewelry and diamond retail sales declined 5% in January. The decline in loose diamond sales, which accounts for more than 21% of retailers’ jewelry sales, was the primary cause of the decline.
For the first time, revenue from loose lab grown diamonds sales declined year over, as consumers spent less on per item, presenting a critical challenge for the LGD sector.
In 2023, US fine jewelry and diamond retail sales sank 5.8%, resulting in a challenging year for the jewelry industry. A small 0.3% increase in holiday sales, while bucking the annual trend of sales declines throughout 2023, did not result in a last-minute turnaround.
Overall US fine jewelry and diamond retail sales rose in November versus November 2022, dispelling some of the worries that US consumers lost interest in jewelry this year. However, the improved sales were not enough to turn the tide completely. Year to date, sales are lagging behind 2022 and it is yet to be seen […]
Overall US fine jewelry and diamond retail sales value widened the negative trend in October. Year over year, sales fell 9.5% by value and declined 6.8% by number of units sold. Average unit retail price declined 3% year over year. Year to date, sales are down 8.2%, as overall consumer demand for fine jewelry keeps […]
Jewelry sales declined in September as US demand continued to soften. Year over year, US fine jewelry and diamond retail sales declined 8.6% by value. Average unit retail price pulled back 1.7% year over year to $1,677.
The September decline brought year to date sales down 8.1% as nearly every category suffered from a decline.
Overall US fine jewelry and diamond retail sales were mixed in August. Year over year, sales rose 0.5% by value and fell 4% by quantity of units sold.
Despite the modest rise in consumer expenditure in August, year to date sales declined 7.4%. This is impacting nearly every category of fine jewelry and diamonds.