U.S. sales observed in the first quarter for specialty jewelers in 2009 was about 86 percent of previous year’s levels. They were reduced by nearly 14 percent from 2008’s first quarter. While March jewelry sales were declined by 16 percent and were slightly weaker compared with January and February sales 12 percent and 13 percent respectively. They were not abnormal with the trend established many months ago.
Specialty jewelers recorded sales of just $1.7 billion in March 2009 compared with $2.0 billion in March 2008. For the first quarter of 2009, specialty jewelers in the U.S. recorded sales of nearly $5.4 billion, in which there is a decline from the previous year’s $6.3 billion.
Entire U.S. jewelry sales recorded at all merchants, also consisting of specialty jewelers, discounters, mass market merchants, and others recorded an annual run-rate of $62.7 billion in March, declined moderately from the standard run rate in the first quarter of $63.5 billion. These figures are very less than 2008’s total jewelry sales of $65.8 billion. During April, the Department of Commerce made important revisions to its sales database for the previous five years. These numbers may not be in accordance with data exactly published by IDEX Online Research.
Jewelry’s share of wallet in March declined to nearly 0.5 percent from February’s 0.7 percent, but was in accordance with 0.5 percent share of wallet in January. Jewelry has mostly captured nearly 0.8 percent share of wallet of American shoppers.