Annual growth of 3.1 percent is expected.
U.S. demand for jewelry and watches is likely to hit $90 billion in 2020, up from $77.2 billion in 2015, according to a new report.
If that figure is achieved, it would represent annual growth of 3.1 percent, says the Freedonia Group, a Cleveland, OH-based industry market research firm.
Fine jewelry sales will be driven by an increase in the number of new marriages.
But the company sounds a note of caution, explaining that “ongoing financial challenges faced by young adults – coupled with their growing preference for purchasing other big-ticket items such as electronics and experiences (eg, vacations) – will restrain further advances in personal spending on these accessories.”
That line of thought echoes recent concerns that millennials might not be the enthusiastic buyers of diamond jewelry that their parents and grandparents were.
De Beers, however, insisted in a recent report that millennials “do express strong desire for diamonds when they reach financial and demographic maturity.”
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Ready to Relocate? Wilkerson Makes Your Move Seamless
When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time.
"We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them.
Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."
