US Watch and Jewelry Sales Keep on Growing
November 05, 24
(IDEX Online) - Watch and jewelry sales in the US performed well in September, with their biggest monthly rise since April 2022.
The latest figures, for August, from the US Department of Commerce, show an 8.4 per cent increase, compared to 5.2 per cent in August.
It's the 12th consecutive month of growth, after a year or so of almost uninterrupted decline, from
September 2022 to September 2023.
Much of the recovery in the US is being driven by Amazon, Costco, Walmart and other multi-line retailers, which jointly account for around two thirds of all watch and jewelry sales.
As reported previously, North America same-store sales by Signet, the world's largest retailer of diamond jewelry, fell by 3.7 per cent in Q2.
The Department of Commerce no longer provides a breakdown for specialty jewelers - so we now use Signet as our benchmark.
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