International News
US jewellery, watches sales up by 4.4 per cent year-on-year
Sales of watches and jewelry in the US showed further signs of growth in December 2024, up 4.4 per cent year-on-year, according the latest figures from the US Department of Commerce. But there’s been a marked slowdown since the 10 per cent increases of last September and October.
November saw sales up by just 3.0 per cent, revised down from 5.8 per cent based on actual through-the-till transactions rather than estimates. October has been revised up from 9.7 per cent to 10.0 per cent.
The average monthly year-on-year growth for the full year is 5.4 per cent, so December was little below par. Having said that, it was the 15th consecutive month of growth after a long period (the end of 2022 and much of 2023) of falling sales.
International News
U.S. specialty jewellery retailers recorded a 5.7% y-o-y revenue increase in Sept 2026:Tenoris
The growth continues to be driven primarily by high-end purchases rather than sales volume. Average consumer spend per item jumped 11% in September, offsetting an 11% drop in sales volume for lower-priced merchandise.
U.S. specialty jewelry retailers recorded a 5.7% year-over-year revenue increase in September 2026, extending nearly two years of continuous monthly growth despite broader economic headwinds, according to new data from industry analytics firm Tenoris. Year-to-date jewelry revenues are now up 8.5%.
The growth continues to be driven primarily by high-end purchases rather than sales volume. Average consumer spend per item jumped 11% in September, offsetting an 11% drop in sales volume for lower-priced merchandise.
Key insights from the September report include:
- Diamond Market Dynamics: Sales of finished diamond jewelry dipped slightly by 0.6%, though average spending per stone rose 11%.
- Lab-Grown Segment: Demand for lab-grown diamond jewelry surged nearly 26% year-over-year. However, revenue for loose lab-grown diamonds fell for a fifth straight month due to declining prices.
- Outperforming Broader Luxury: While overall U.S. luxury spending fell 6% in September—according to recent Citi credit card data—jewelry sales remained comparatively resilient, driven by affluent buyers.
When overall revenue increases even as the number of individual items sold drops, it creates a optical illusion of growth. On paper, top-line financial performance looks strong, but underneath, the business is relying on fewer transactions at much higher prices.Heading into the high-volume fourth quarter—driven by holiday shopping—this dynamic presents specific operational challenges and strategic risks for jewelry retailers.
U.S. specialty jewellery retailers recorded a 5.7% y-o-y revenue increase in Sept 2026:Tenoris
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