(IDEX Online News) – Tougher comparisons against last year’s strong sales coupled with declining sales at specialty jewelers resulted in only a moderate sales gain in June for the US jewelry industry.

 

Total sales of fine jewelry and fine watches in the US market rose by 3.5 percent in June 2016 when compared to June 2015, according to preliminary data from the US Department of Commerce. This gain was below the solid gains in the past couple of months, but more in line with the increases posted in the December 2015-March 2016 period.  

 

By category, fine jewelry sales and fine watch sales were each up about 3.5 percent in June. Watch sales have been outpacing jewelry sales for a number of months, but demand for watches has slowed somewhat, according to both the government survey and our panel of jewelers.

 

June is a relatively important month for the US jewelry industry: just over 7 percent of the industry’s annual sales occur during the month. In fact, it is the strongest month of the sequence of five months beginning June and ending October. The summer doldrums set in during July, and shoppers simply don’t think about jewelry until November, the beginning of the holiday selling season.

 

Total Jewelry Sales Up 3.5 Percent in June

Total sales of fine jewelry and fine watches in the US market in June 2016 were an estimated $5.7 billion, according to the latest preliminary data from the Department of Commerce.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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