The growth in US watch and jewelry sales continued to slow in May, marking the third consecutive month of deceleration, according to the latest year-on-year estimates by the US Department of Commerce quoted by IDEX Online.
Sales are still increasing, primarily among multi-line retailers rather than specialty jewelers, but the rate of growth is diminishing. May sales were up by 1.4% compared to the same month in 2023, reflecting ongoing tough trading conditions with little sign of improvement. This follows a 2.7% increase in April, a 4.5% rise in March, and a 5.0% increase in February.
According to the Department of Commerce, jewelry sales in the US rose by 1.5% in May (compared to 2.7% in April). Watch sales increased by 0.9% in May (compared to 2.6% in April), averaging a 1.4% increase.
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