Overall U.S. jewelry and watch sales increased by 4.2% on the year to approximately $4.65 billion last month, according to provisional data from the U.S. Department of Commerce. Of that figure, Rapaport News estimates jewelry sales in March rose 4% to $4.11 billion, compared with the February increase of 4.5 percent. The Department of Commerce revised slightly upward sales figures for jewelry and watch sales in January and February to 5.8% and 4.8%, respectively.
For the first quarter of 2016, jewelry and watch sales jumped by 4.9% to around $15.5 billion, with jewelry sales being almost $13.7 billion. Meanwhile, U.S. Census Bureau figures for specialty jewelry stores only, which run a month behind, showed sales in February soared 7.7%. Sales figures are likely to have been impacted by a decline in price inflation for jewelry, with a 3% drop in jewelry prices in the U.S. in March.