Watch and jewelry sales in the United States experienced a notable increase in June, marking the largest monthly rise in two years. According to recent data from the US Department of Commerce, sales rose by 6.2 percent compared to the same period last year. This uptick mirrors the 6.25 percent increase observed in July 2022.
Over the past three months, sales have shown steady growth, albeit at a slower pace: March saw a 4.5 percent increase, followed by 3.7 percent in April, and 3.3 percent in May. This positive trend comes after nearly a year of consistent decline from October 2022 to October 2023.
The Bureau of Economic Analysis (BEA) at the US Department of Commerce revised the figures for April and May, indicating higher sales than initially reported. April’s year-on-year increase was revised up from 2.7 percent to 3.7 percent based on actual transaction data rather than estimates. Similarly, May’s increase was adjusted from 1.4 percent to 3.3 percent.
Overall, the recent surge in watch and jewelry sales in June reflects a promising turnaround for the industry following a challenging period of decline.
