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
US Consumers Are Cutting Back Sharply On Discretionary Items Like Jewellery
McKinsey’s findings indicate : 43% of US consumers plan to spend less on jewelry this holiday season, while 39% expect to spend the same, and only 18% plan to spend more. This yields a net spending intent of -25%.
According to McKinsey & Company’s latest consumer sentiment research (surveyed July 29–August 5), US holiday budgets remain stable, but consumers are cutting back sharply on discretionary items like jewelry.
- Jewellery Spending Pullback: 43% of US consumers plan to spend less on jewelry this holiday season, while 39% expect to spend the same, and only 18% plan to spend more. This yields a net spending intent of -25%.
- High Category Risk: Accessories (-30%) and home decor (-32%) recorded the lowest net spending intent across 22 discretionary categories.
- Overall Holiday Budgets: Across all categories, 47% of consumers plan to match last year’s spending, 23% plan to spend more, and 21% plan to spend less.
- Bright Spots & Demographics: Gen Z consumers show higher planned spending on jewelry and accessories relative to older generations.
Bain & Company forecasts
- Total US holiday sales to rise 4.5% year-over-year to a record $1.016 trillion.
- In-store sales are projected to grow 2.5%, while non-store (e-commerce) sales are expected to jump 9%.
- Half of this nominal growth is driven by inflation rather than unit volume.
While macro retail figures point to growth, McKinsey’s findings indicate jewelry retailers face an intense battle for market share against apparel, electronics, and travel. Success will depend on capturing a increasingly selective consumer base.
PNGS Reva Diamonds Unveils Official E‑Commerce Platform, Marking A New Digital Chapter In Omnichannel Luxury
Palmonas Celebrates Its 101st Store, Marking A Journey Built On Trust, Community and A New Way Of Experiencing Jewellery
Imposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
PNGS Reva Diamonds Unveils Official E‑Commerce Platform, Marking A New Digital Chapter In Omnichannel Luxury
GJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
Imposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
-
National News3 hours agoPNGS Reva Diamonds Unveils Official E‑Commerce Platform, Marking A New Digital Chapter In Omnichannel Luxury
-
National News6 hours agoGJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
-
National News6 hours agoImposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
-
National News6 hours agoPalmonas Celebrates Its 101st Store, Marking A Journey Built On Trust, Community and A New Way Of Experiencing Jewellery
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.