June Jewelry Demand Rebounds in U.S. Market

After a dizzying drop earlier this year, U.S. jewelry and watch sales showed a solid recovery in June.  Total fine jewelry and watch sales rose by almost 2 percent in June to an estimated $5.6 billion versus $5.5 billion in June a year ago, according to the latest data from the Department of Commerce. 

While a 2 percent gain may sound modest, it is a dramatic recovery from March, April, and May when U.S. jewelry and watch sales declined by 21 percent, 51 percent, and 27 percent, respectively. 

June's sales recovery confirms the rebound in consumer demand - first reported by IDEX Research last month - that U.S. jewelers in our retailer sample alerted us to in early July. 

While retailers - including jewelers - never fully recover lost sales from weather, pandemics, and store closures, June data represents a hopeful sign that 2020 won't be a total disaster for merchants. 

U.S. jewelry sales trends - monthly percentage change, year-over-year - for the first six months of 2020 are shown on the graph below.  It's been a roller-coaster ride that no one wants repeated.

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