Online Jewelry Sales Statistics (2013–2023)
Jewelry is one of the most popular items people purchase online. From necklaces and earrings to bracelets and watches, the jewelry market is worth several billions of dollars in the US.
As it is, its overarching category, fashion, ranks among thetop online shopping categoriesin the world. And given the growingUS fashion industry size, especially inecommerce, it’s no wonder the online jewelry market is also doing relatively well.
Jewelry market size: 2013–2019
In fact, the latest online jewelry sales statistics in the US show that there’s been relatively constant sales growth from 2013 to 2019. The only year online sales fell was in 2017, when total revenue fell by a marginal 1.17%.
The online jewelry market rebounded immediately, rising 11.56% the year after. In 2019, the market generated nearly$8.3 billion,其数十年来表现最好的一年。
From 2013 to 2019, the online jewelry market size grew at an average rate of 5.7% annually. The biggest year-over-year increase was registered in 2015 when online jewelry sales surged 16.44%.
Experts say the growth the industry experienced towards the latter part of the previous decade is due to the increased demand for jewelry. This is spurred by consumers’ growing disposable income, which permitted them to not only spend but also spend more on expensive discretionary goods such as jewelry.
Online jewelry sales statistics: 2019 onwards
Since 2019, online jewelry sales statistics have shown growth fluctuations in sales. While 2020 and 2021 saw annual increases of 2.38% and 4.4%, respectively, the following year saw revenues shrink for the first time in six years.
In 2022, total sales fell by 1.51% to $8.69 billion, the biggest decrease expected between 2013 and 2023. This year, the online jewelry market is set to continue contracting, with sales forecast to dip by 0.62%. According to experts’ analyses, the market has been growing slower than the ecommerce retail sector and the overall economy.
The revenue decrease expected in these two years is predicted to drive average growth rates down. From 2018 to 2023, the online jewelry market is projected to grow at an average of 1.3% per year—nearly one-fifth of the 6.4% average annual growth rate of the previous five years.