U.S. Jewelry Store Sales ~$29 Billion in 2008
February 17, 09
Jewelry store sales in the U.S. totaled $5.26 billion in December. Together with November sales of $2.3 billion, jewelry store holiday sales totaled $7.56 billion, falling 18.5 percent compared to the 2007 holiday season, based on figures released by the U.S. Department of Commerce.
The difficult economic situation affected the end of the year sales, as exemplified by annual sales. Totaling $29.3 billion, 2008 sales declined a more modest 4.7 percent.
After years of hovering in the 22.5 percent - 23.5 percent range, the weight of total jewelry holiday sales have declined. In 2007, November-December sales represented 21.2 percent of annual sales, further declining to 18 percent in 2008.
The Department of Commerce December figures are expected to be revised. They cover all revenue generated by stores, including sales of non-diamond jewelry.