US Jewelry Market Smaller Than Earlier Estimates

(IDEX Online News) – New data from the Department of Commerce shows that sales of fine jewelry and watches in the US market were $74.7 billion in 2014, down from the government’s earlier estimates of $78.1 billion. The Department of Commerce also revised annual sales for 2013 downward, but surprisingly nudged its 2012 sales estimate upward modestly. The government did not revise other years. 

The graph below summarizes annual sales trends in the US market for fine jewelry and watches. 

The new data indicates that the US jewelry market has barely grown since 2012, as the graph below illustrates.

As a result of this revision, specialty jewelers appear to hold a 40.8 percent market share, up from the previously reported 39 percent. Specialty jewelers’ annual sales were revised in May.

IDEX Research will have a thorough analysis of the new government data soon.