20+ Dazzling Jewelry Industry Statistics [2022]: Facts, Data, Trends And More

By Abby McCain
Sep. 25, 2022
Fact Checked
Cite This Webpage Zippia. "20+ Dazzling Jewelry Industry Statistics [2022]: Facts, Data, Trends And More" Zippia.com. Sep. 25, 2022, https://www.zippia.com/advice/jewelry-industry-statistics/

Research Summary. From engagements to anniversaries to simple self-expression, jewelry is a major player in American culture and the American economy. In fact, the oldest jewelry store in the US dates back to 1785.

So, to find out more about US jewelry market, here are the key statistics on the jewelry industry:

  • The U.S. jewelry market earned $57.965 billion in annual revenue in 2021.

  • The global jewelry industry is valued at $249.02 billion as of 2021.

  • The U.S. jewelry market is expected to grow by a CAGR of 1.31% from 2021 to 2026 and earn $61.868 billion in revenue by 2026.

  • Online jewelry sales amounted to almost $7.6 billion in 2021 in the U.S.

  • During the early months of 2020, jewelry sales dropped by 82%.

  • The U.S. jewelry store market size is $33.9 billion as of 2021.

For further analysis, we broke down the data in the following ways:
Consumer Preferences | Online Jewelry Market | The Pandemic’s Effect on Jewelry Sales
u.s. jewelry store market size 2012-2021

General Jewelry Industry Statistics

  • As of 2021, there are 51,153 jewelry store businesses in the U.S.

    California has the highest number with 2,614, New York with 2,170, and Florida with 1,881.

    The number of jewelry store businesses in the U.S. decreased 2.3% from 2016 to 2021 and was down 1.3% from 2020 to 2021 alone.

  • The market size of U.S. jewelry stores is $33.9 billion.

    This number grew by 0.1% in 2021, reflecting the 0.1% total annualized market size growth from 2016 to 2021. This is slower than the overall growth of the U.S. economy.

  • There are 18,854 people employed by the U.S. jewelry manufacturing industry and 124,986 people employed by U.S. jewelry stores.

    This is a total of 143,840 people. However, both of these categories saw employment drop at an annualized rate of just over 5% from 2016 to 2021.

  • LVMH is the largest jewelry retailer in the world.

    LVMH stands for Louis Vuitton and Moët and Hennessy and is the world’s largest retailer of luxury goods, including jewelry. Its most famous jewelry brands include Bulgari, Hublot, De Beers, and TAG Heuer.

    The company is based in Paris, France, but it generates 24% of its $52.9 billion in annual revenue in the U.S.

  • Signet Jewelers Limited is the largest specialty jewelry retailer in the U.S.

    The company owns brands such as Jared, Zales, and Kay Jewelers, has earned $6.25 billion in revenue in 2019, and has over 3,000 stores worldwide.

    Tiffany and Co. follow closely behind, earning $4.4 billion in revenue but only boasting 321 stores.

  • The ten largest jewelry groups only account for about 12% of the global jewelry market.

    Most jewelry purchases are done with local businesses instead of retail giants.

    In addition, only 20% of the jewelry market is made up of branded jewelry, although this is expected to increase rapidly over the next few years.

jewelry sales dropped by 82% in april 2020

Jewelry Industry Statistics by Consumers

  • 35% of surveyed women said they prefer white gold for their jewelry.

    17% said their first choice is silver, 15% preferred platinum, 13% preferred rose gold, and just 11% listed yellow gold as their first choice. The remaining 9% said they didn’t have a preference or would choose a mixed-metal piece.

    These survey respondents are all between the ages of 25 and 40.

  • jewelry preferences of women between 25-40

  • The average American spent $62.12 on jewelry in 2020.

    This is down from $95.89 in 2019 and $76.41 in 2018. This amount also doesn’t include watches, on which the average American spent just $18.22 in 2020.

    The average amount spent on watches didn’t change much during those two years, with U.S. consumers spending an average of $20.36 in 2018 and $18.44 in 2019.

  • average american consumer spending on jewelry and watches 2018-2020

  • Jewelry companies reported a 38% increase in custom jewelry sales from 2019 to 2020.

    There are many reasons for this, but many experts point to millennials’ increased focus on individuality over tradition and social media providing greater ideas and options than a traditional jewelry store would, increasing customers’ desire for a customized item.

  • The U.S. holds 48% of the world’s polished diamond demand.

    This means 48% of polished diamonds sold worldwide go to American customers each year. This is up from the 42% demand that the U.S. held in 2014.

Online Jewelry Industry Statistics

  • Online jewelry sales make up about 5-10% of all jewelry sales.

    The number of online sales went up by about 14% from 2017 to 2018, and it is expected to only continue to grow.

  • From 2012 to 2021, online jewelry sales increased by an average of 3.9% each year.

    The largest increase was in 2015, which saw a 17.2% jump from $5.8 billion in sales in 2014 to $6.8 billion in 2015.

    Online sales have dipped back down by 9.7% from 2019 into 2020 but held steady in 2021.

  • online jewelry sales in the u.s. between 2012-2021

  • 11% of recent engagement ring purchases were made online.

    Online stores come in as the least popular location to buy an engagement ring, following chain jewelers, which had 31.2% of all ring purchases, and independent stores, which had 27.8%.

    Luxury jewelers, vintage rings, department stores, big-box stores, and wholesalers provided the remaining 30% of all engagement rings purchased.

  • distribution of engagement ring purchase locations among u.s. consumers

Pandemic Jewelry Industry Statistics

  • The jewelry industry’s sales dropped by 82% when the COVID-19 pandemic began.

    This was reported during the early stages of the pandemic as people lost incomes, canceled events, and postponed engagements and weddings.

  • Fine jewelry sales during June, July, and August 2020 were $1 billion higher than they were during those same months in 2019.

    As lockdowns eased, shoppers began spending the money they had set aside for trips and big wedding ceremonies on jewelry, and more and more people decided to get engaged. This boosted fine jewelry sales significantly during these months.

    Luxury jewelry, however, did not fare quite as well due to the lack of trunk shows and formal events that often drive sales for such pieces.

  • During the COVID-19 pandemic, engagement ring sales increased by 20-30% for some retailers.

    In addition, bridal-related sales outpaced general sales for some retailers, and many saw an increase in customers purchasing engagement rings and wedding bands on the same trip.

Jewelry Industry Statistics FAQ

  1. Is the jewelry industry dying?

    No, the jewelry industry isn’t dying. It is, however, shifting.

    Brick-and-mortar retail stores aren’t doing as well as they used to, and the U.S. saw a 4-5% drop in jewelry stores from 2017 to 2018.

    However, this is a much slower decrease than other brick-and-mortar stores. The number of physical florist shops, for example, dropped by 26% between 2017 and 2018, and the number of bookstores declined by about 28% during that same time.

    Jewelry sales are moving more and more online, whether that’s via a jewelry store chain’s website, a new online-only retailer, or independent sellers on digital marketplaces like Etsy.

  2. Who buys the most jewelry?

    People between 45 and 54 who live in large cities and make at least $200,000 a year buy the most jewelry.

    This was true in 2020, as this demographic usually holds advanced degrees and managerial and professional jobs, which meant they were less financially affected by the COVID-19 pandemic than others.

    In 2019, millennials between the ages of 25 and 34 were the top jewelry buyers, but their spending in this area dropped off in 2020 due to postponed weddings, canceled social events, and lost incomes.

  3. Is the jewelry industry part of the fashion industry?

    No, the jewelry industry isn’t part of the fashion industry. It is its own industry, especially where fine jewelry is considered. However, the jewelry industry is closely linked to the fashion industry.

    Both industries follow trends set by fashion designers, celebrities, and influencers, and often fashion designers include jewelry as a part of their runway ensembles and inventory. Because of this, costume jewelry is often considered a part of the fashion industry, but fine jewelry isn’t.

  4. How much is the jewelry industry worth?

    The jewelry industry is worth $249.02 billion, globally. The U.S. jewelry and watch market is valued at approximately $76 billion. While revenue fell over the pandemic, the jewelry industry is showing signs of recovery and transformation to meet the demands of a changing market.

  5. What is the future of the jewelry industry?

    The future of the jewelry industry is bright, with an expected market value of $292 billion by 2025, up from about $249.02 billion now. Experts also predict that the areas of most pronounced growth will happen with online jewelry sales and greater rates of branded jewelry.

    From the sales side, influencer marketing, customized jewelry, and social media advertising seem to be the top trends for getting jewelry into the hands of the next generation of jewelry consumers.


Like much of the U.S.’s retail industry, the jewelry industry is shifting away from brick-and-mortar stores as shoppers choose to make purchases online. For example, throughout 2020 and into 2021, 11% of engagement ring sales were made online.

This is thanks largely to millennials who prefer online shopping and are buying more and more bridal and engagement jewelry as a significant number of them have gotten engaged and married after the COVID-19 pandemic lockdowns.

Other trends in the market include a significant preference by female shoppers for white gold jewelry (35%) and a 38% increase in demand for custom jewelry, whether that’s creating a unique engagement ring or ordering a necklace that features multiple -meaningful pendants the customer mixed and matched for themselves.

Globally, the U.S. is a large part of the jewelry industry, demanding 48% of the world’s polished diamonds that are up for sale. In addition, the U.S. jewelry market accounts for $33.9 billion of the global jewelry market’s $249.02 billion value.


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  2. Statista. “Jewelry: Worldwide.” Accessed on December 2, 2021.

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  4. IBISWorld. “Jewelry Stores in the U.S. – Market Size 2005-2027.” Accessed on December 2, 2021.

  5. IBISWorld. “Jewelry Manufacturing in the U.S. – Employment Statistics 2005-2027.” Accessed on December 2, 2021.

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  9. Statista. “Jewelry Store Sales in the United States From 1992 to 2019.” Accessed on December 2, 2021.

  10. McKinsey. “A Multifaceted Future: The Jewelry Industry in 2020.” Accessed on December 2, 2021.

  11. National Jeweler. “Study: 51 Percent of Millennial Women Buy Jewelry for Themselves.” Accessed on December 2, 2021.

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  13. Instore. “JCK Releases the 2020 State of the Jewelry Industry Report: COVID-19 Business Impact.” Accessed on December 2, 2021.

  14. Statista. “Distribution of Polished Diamond Demand Worldwide From 2014 to 2019, by Region.” Accessed on December 2, 2021.

  15. The Clearsale Blog. “Jewelry E-Commerce Statistics and Insights.” Accessed on December 2, 2021.

  16. Sales Layer. “The Success of eCommerce in the Jewelry Industry.” Accessed on December 2, 2021.”

  17. Oberlo. “Online Jewelry Sales Statistics (2011-2021).” Accessed on December 2, 2021.

  18. Ringspo. “Ringspo 2021 Engagement Ring Survey.” Accessed on December 2, 2021.

  19. The Jerusalem Post. “How COVID-10 Has Impacted the Jewelry Industry and How Businesses Can Adapt.” Accessed on December 2, 2021.

  20. The New York Times. “Even in a Pandemic, Fine Jewelry is Selling.” Accessed on December 2, 2021.

  21. Brides. “5 Ways Engagement Ring Shopping Has Changed Since COVID-19.” Accessed on December 2, 2021.

  22. Jewelers of America. “Jewelry Industry Is Shrinking, Or Is It?” Accessed on December 2, 2021.

  23. Edahn Golan. “Spending on Jewelry: Almost All Spent More.” Accessed on December 2, 2021.

  24. NAICS Association. “Industry: 5944—Jewelry Stores.” Accessed on December 2, 2021.

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Abby McCain

Abby is a writer who is passionate about the power of story. Whether it’s communicating complicated topics in a clear way or helping readers connect with another person or place from the comfort of their couch. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business.

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