International News
US Watch and jewelry sales remain steady in March, overall increase of 0.4 percent
US Watch and jewelry sales remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while
Watch and jewelry sales in the US remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while watch sales dipped, as consumers opted for higher-priced items, but bought fewer of them.
In February overall sales increased by just 0.2 per cent and in January they fell by 1.0 per cent
The US government’s BEA (Bureau of Economic Analysis) reported a 0.7 per cent increase in consumer spending in March, the biggest increase for two years, but said it was largely driven by a rush to buy cars before US reciprocal tariffs forced prices up.
Watch and jewelry sales have been characterized by very modest increases in recent months, following on from a year of sustained growth – 10 per cent or more in some months – as shown below.
Reciprocal US tariffs – announced in April, then paused until July – will almost certainly hit sales, as producers forced to either absorb the costs or pass them on to consumers.
International News
Jewellery Was The Top Category For Global Luxury Spending In 2025: Bain & Company-Altagamma
Fundamental Shift in luxury consumption—from ownership to meaningful experiences, AI-driven shopping journeys
Despite economic uncertainty, geopolitical tensions, and changing consumer behaviour, the global luxury industry is showing signs of stabilization. According to the Bain & Company–Altagamma Luxury Goods Worldwide Market Study 2026, global luxury spending reached €1.443 trillion in 2025, with the personal luxury goods market expected to return to moderate growth in 2026. Jewellery was the top category for global luxury spending in 2025
The report highlights a fundamental shift in luxury consumption—from ownership to meaningful experiences, AI-driven shopping journeys, and greater demand for personalization. Brands that succeed will be those that strengthen cultural relevance, embrace AI, and deliver emotionally engaging experiences.
Key Highlights
- Global luxury spending reached €1.443 trillion in 2025 and is projected to grow 0–2% in 2026.
- The personal luxury goods market stood at €358 billion in 2025 and is expected to grow 2–4% in 2026, reaching €365–373 billion.
- Luxury experiences continue to outperform tangible goods, reflecting consumers’ preference for memorable experiences over ownership.
- Jewellery is the strongest-performing luxury category, followed by apparel, eyewear, and fragrances.
- Leather goods, footwear, and cosmetics remain under pressure, though recovery is gradually emerging.
- The Americas, led by the US, are driving growth, fuelled by younger consumers and expanding upper middle-class spending.
- Europe and the Middle East continue to weigh on market performance due to weaker tourism and geopolitical uncertainty.
- China is showing cautious recovery, with online luxury sales rising 25–35%, driven more by fashion than status-led purchases.
- Around 60% of luxury brands are now outperforming last year’s results, indicating improving market resilience.
- Nearly 50% of luxury shoppers consult the second-hand market before purchasing new products, underlining the growing importance of resale.
- Artificial Intelligence is transforming luxury retail, with half of consumers already using AI during their purchase journey for discovery and product comparison.
- More than 80% of the luxury market’s value is represented by brands that actively invest in sports sponsorships to build cultural relevance.
- Immersive luxury experiences—including bespoke travel, fine dining, and local cultural experiences—continue to gain popularity.
- Consumers increasingly associate luxury with personal fulfilment and meaningful living, rather than status or social recognition.
- Bain identifies three priorities for luxury brands:
- Deliver immersive, experience-led luxury.
- Build stronger cultural relevance across diverse consumer groups.
- Leverage AI for personalization and co-creation with customers.
The luxury industry is entering a new phase where growth will be driven less by products and more by experiences, emotional connections, AI-enabled personalization, and authentic brand meaning. While macroeconomic and geopolitical challenges remain, brands that adapt to evolving consumer expectations are well positioned for sustained growth.
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