The Big Crash: US Watch and Jewelry Sales Down 54.7 per cent

Total US sales of watches and jewelry slumped in April, down by an unprecedented 54.7 per cent compared with the same month last year.  It was the first full month of COVID-19 lockdown in the US.

Sales in March, which included around two weeks of lockdowns, travel restrictions and store closures, were down 21.1 per cent. This figure, based on actual dollars through the cash register has been revised down significantly from the original 27.2 per cent, which was based on sampling estimates.

New revisions also show that February sales rose by 2.2 per cent, rather than 2.4 per cent as originally estimated

In the two years before coronavirus, the trend for overall watch and jewelry sales was generally upwards. Months of negative growth were rare and never exceeded 1.8 per cent.

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