Retail sales for watches and jewelry in the United States showed little movement in March, edging up by just 0.4%, according to newly released data from the U.S. Department of Commerce. The modest growth reflects a continued trend of subdued momentum in the luxury accessories market.
Jewelry outperformed watches in March, with a slight uptick in sales, while watch sales experienced a minor dip. Analysts suggest that consumers leaned toward purchasing fewer, but more expensive, pieces—signaling a preference for quality over quantity in the current economic climate.
The March figures mark a slight improvement over February’s 0.2% growth and a rebound from January’s 1.0% decline. However, the overall picture remains one of cautious consumer spending.
Meanwhile, the U.S. Bureau of Economic Analysis (BEA) reported a 0.7% rise in overall consumer spending in March—the strongest monthly increase in two years. This surge, however, was largely fueled by a preemptive spike in automobile purchases ahead of anticipated price hikes linked to upcoming reciprocal tariffs.
After a strong 2023, where watch and jewelry sales occasionally surpassed 10% growth month-over-month, the sector now appears to be settling into a more restrained phase. Upcoming tariff implementations—initially announced in April and delayed until July—are expected to pose fresh challenges. Retailers and manufacturers may soon face tough decisions on whether to absorb higher costs or pass them along to consumers, which could dampen demand in the months ahead.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
