International News
US jewellery sector continues contraction, sees 3.4% yoy decline:JBT
The US jewelry sector continues its contraction, registering a 3.4% year-on-year decline in the total number of retail, wholesale, and manufacturing businesses, according to the latest data from the Jewelers Board of Trade (JBT). The sector has shown a consistent quarterly decline since at least Q3 2024, suggesting persistent structural challenges. Notably, the sharpest reduction in Q1 2025 was seen among manufacturers, while retailers and wholesalers also reported significant drops despite new business openings.
Key Findings–Overall Business Contraction:The total number of businesses fell by approximately 800 to 22,330 — a 3.4% decrease year-on-year.
Previous quarters reported similar declines:Q3 2024: -3.3%,Q4 2024: -3.2%
Despite the overall decline, 68 new retail jewelers opened during Q1 2025, showing some resilience and entrepreneurial activity in pockets of the sector.
The US jewelry sector is in a state of managed decline — not a collapse, but an ongoing reduction driven by structural changes in production, distribution, and consumer behavior. The steady quarterly decline suggests that without substantial adaptation, the number of businesses will continue to shrink.
International News
US NRF forecasts total holiday sales to cross $1 trillion; Clothing , jewellery are second most-wished-for gifts
The US National Retail Federation (NRF) forecasts strong consumer spending on gifts, including jewellery, for the 2025 Christmas season, projecting overall holiday retail sales growth of 3.7% to 4.2%. While the NRF doesn’t provide a specific forecast for jewellery, it notes that clothing and accessories (including jewellery) are highly desired gifts, and younger shoppers are particularly likely to purchase jewellery, often finding inspiration on social media platforms like TikTok and Instagram.
Key NRF holiday forecast details
- Overall sales: NRF forecasts total holiday sales to grow between 3.7% and 4.2% over last year, reaching over $1 trillion for the first time.
- Consumer spending: The forecast is driven by strong underlying consumer fundamentals, with shoppers prioritizing spending on gifts for loved ones.
- Shopping habits: Shoppers are starting early to manage budgets, avoid crowds, and take advantage of promotions. Online shopping remains the top method, followed by grocery stores and department stores.
Jewellery-specific insights
- High-demand gift: Clothing and accessories (including jewelry) are the second most-wished-for gifts, after gift cards.
- Younger shoppers: Consumers aged 18-24 are especially likely to purchase jewellery, and they find gift ideas on social media platforms like TikTok and Instagram.
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