Jewelry Store Sales +12%, Best Dec. Performance Since 2007

RAPAPORT...



U.S. jewelry store sales in December 2012 surged 11.8 percent year on year to $6.301 billion, or the highest monthly total since December 2007, when store sales reached $6.5 billion. Taking into account the fact that consumer price inflation (CPI) for jewelry fell 2.9 percent in December, the sales increase reflected an even  stronger environment.

Annual jewelry store sales in the U.S. rose 5.7 percent year on year to $30.797 billion, the highest value since the category reached $30.82 billion in 2007. But the industry has lost many retailers since that time, so surpassing the  $30 billion mark for the first time in five years was a great achievement. Furthermore,  while the CPI remained at a historically high level in 2012, it did continue to cool as the year progressed,  recording an average increase of just 1 percent.

In other industry trade news, U.S. jewelry exports in 2012 jumped 12.4 percent to  $10.2 billion, while jewelry imports declined 1.9 percent to $12.1 billion. Exports of watches and clocks plunged 14 percent to $396 million, while imports were flat at $4.8 billion. As Rapaport News reported on February 12, the net diamond account in 2012, reflecting the value of polished and rough diamonds that stayed in the country, plunged 21 percent to $3.25 billion, led by a 23 percent drop in net polished imports. Net rough imports, however, were flat at $202 million.