US Watch and Jewelry Sales Steady Again in March
May 06, 25
(IDEX Online) - 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.
The overall trend for jewelry sales is much remains unchanged. It may be showing modest signs of recovery, according to US Department of Commerce figures.
Jewelry sales in the US rose by 0.5 per cent during March, compared to a 0.4 per cent increase in February. Watch sales dipped slightly, down 0.1 per cent, compared to a 0.4 per cent fall in February.
The overall increase in sales of watches and jewelry for March was 0.4 per cent, compared to a 0.3 per cent rise in February.
The Department of Commerce has adjusted its sales figure for January, down from 0.9 per cent to 1.0 per cent, based on actual rather estimated transactions, and its figure for February up from a 0.2 per cent increase to 0.3 per cent.
