Cleveland, OH, June 18, 2018 – US personal spending on jewelry and watches in nominal terms is forecast to total $100 billion in 2022, according to Jewelry & Watches: United States, a report recently released by Freedonia Focus Reports. Advances will stem from rising numbers of new marriages and increased consumer disposable income permitting gifting and self-purchasing for jewelry, especially among women.
Gifts are a major reason people purchase jewelry and watches. In addition, many women self-purchase jewelry items for multiple reasons (e.g., commemoration of a life milestone, celebration of a major achievement, impulse spending). However, further advances will be restrained by ongoing financial challenges faced by young adults and changing consumer preference in favor of purchasing other big-ticket items such as electronics and experiences (e.g., vacations) instead of luxury goods.
These and other key insights are featured in Jewelry & Watches: United States. This report forecasts US personal consumption expenditures (PCE) on jewelry and watches in both nominal and real (inflation-adjusted) US dollars to 2022. Total spending in both nominal and real terms is segmented by product in terms of:
To illustrate historical trends, total PCE, the various segments, and trade are provided in annual series from 2007 to 2017.
More information about the report is available at https://www.freedoniafocusreports.com/Jewelry-Watches-United-States-FF90015/.