Resilient Sales, Rising Pressures: The State of US Jewelry

Solitaire International: The US jewelry sector is on track for another year of growth in 2025, with sales up 5 percent in the first ten months of the year. Independent retailers are driving much of the momentum even as large chains still dominate overall market share.

That strength comes despite heavy headwinds. A 50% US tariff on Indian imports is squeezing margins, gold above $4,100 per ounce is keeping price pressure high, and jewelry-related crime and skills shortages are adding further strain across retail and manufacturing.

The market is also consolidating, with fewer but stronger players capturing most of the gains. Even so, sentiment heading into 2026 remains broadly positive, with confidence that demand can hold at the elevated levels seen since the post-pandemic rebound.

I explore these themes in my November column for Solitaire International: Resilient Sales, Rising Pressures: The State of US Jewellery

Image: Elegant jewelry display. (Credit: Wix Images)