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2021 Will Be the ‘Year of Jewelry,’ Analyst Says
Edahn Golan forecasts a blockbuster holiday season will cap off a stellar year for U.S. jewelry sales.
Industry analyst Edahn Golan forecasts holiday jewelry sales will be up as much as 42 percent year-over-year, with total sales for 2021 topping $90 billion. Diamond and gold jewelry has performed particularly well; pictured here are gold and diamond charms from Stuller’s “Charm School” collection.
Tel Aviv, Israel—One industry analyst predicts the U.S. jewelry industry’s stellar year will have a very merry ending.
In a forecast posted Monday, Israel-based Edahn Golan said jewelry sales in the months of November and December will increase 40-42 percent year-over-year, a significant increase in a year that’s already exceeded many people’s expectations.
Golan bases his forecast on the trajectory of sales so far this year.
According to the U.S. Department of Commerce, U.S. jewelry sales totaled $7.3 billion in October, a record high for the month.
Year-to-date, U.S. jewelry sales stand at $67.8 billion, an astounding number that’s 9 percent ahead of the total for all of 2020 ($62.3 billion)—and November and December haven’t even hit yet.
Golan thinks U.S. jewelry sales will top $90 billion this year, an increase of more than 50 percent year-over-year.
Related stories will be right here …
In a forecast posted Monday, Israel-based Edahn Golan said jewelry sales in the months of November and December will increase 40-42 percent year-over-year, a significant increase in a year that’s already exceeded many people’s expectations.
Golan bases his forecast on the trajectory of sales so far this year.
According to the U.S. Department of Commerce, U.S. jewelry sales totaled $7.3 billion in October, a record high for the month.
Year-to-date, U.S. jewelry sales stand at $67.8 billion, an astounding number that’s 9 percent ahead of the total for all of 2020 ($62.3 billion)—and November and December haven’t even hit yet.
Golan thinks U.S. jewelry sales will top $90 billion this year, an increase of more than 50 percent year-over-year.
Golan’s bullish forecast should come as no surprise to anyone who has been even casually keeping up with fine jewelry news and retail trends over the past year.
Retail sales are up across the board, with the National Retail Federation predicting a record-setting holiday season that, it said Tuesday, is already off to a good start.
Golan writes the decline in travel and the dip in related consumer expenditures—dining out, entertainment, excursions, etc.—“did wonders for” jewelry demand.
He noted particular strength in sales of gold as well as diamond jewelry—something retailers have talked about all year—and said he expects the demand for jewelry to continue into the early part of 2022, at least.
Read Golan’s full holiday forecast, as well as additional industry analysis, on his website.
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