Precious Metals & Bench/Data & Statistics
Gold Jewelry Sales Set Record
Study shows popularity continues to grow
Boosted by a strong economy and lower commodity prices, gold jewelry sales hit a record $14.7 billion in the United States in 1999, based on a new report by the World Gold Council.
That represents an increase of 8% over 1998, with 45% of the sales in the fourth quarter, according to the survey conducted for the World Gold Council by Audits & Surveys Worldwide.
The outlook for this year is equally good, says Kitaru Inagaski, the councils regional marketing director for the Americas/ Europe. New gold design innovation and manufacturing techniques continue to drive consumer interest, he says. In spite of aggressive millennium-related diamond jewelry promotions, the use of discretionary income to purchase gold jewelry continues a very positive trend.
Discount stores led the growth with increases of 12% in value and 18% in units. Independent jewelers reported 6% gains in value and units (see charts).
By jewelry category:
- Earrings passed necklaces with unit sales of 54.3 million valued at $2.3 billion.
- Bracelets continue to grow in popularity, with a 12% rise in unit sales.
- Rings, including wedding rings, rose 4% to 18.9 billion units.
The survey is based on confidential reports from a panel of over 7,500 stores on sales of jewelry in which the primary value is the gold content.
* Non-Store Retailers category does not include online sales.
Gold Jewlery Sales by Value
Gold Jewelry Sales by Units