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 the top online shopping categories in the world. And given the growing US fashion industry size, especially in ecommerce, it’s no wonder the online jewelry market is also doing relatively well.
Jewelry market size: 2013–2019
The latest online jewelry sales statistics in the US show that there was relatively constant sales growth from 2013 to 2019. During this period, the only year online sales fell was in 2016, when total revenue dipped by a marginal 0.4%.
The online jewelry market rebounded immediately, rising 0.6% the year after. In 2018, the market generated nearly $9 billion in sales after growing by 11.3% from the previous year. A 1.9% increase in 2019 pushed sales over the $9 mark.
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From 2013 to 2019, the online jewelry market size grew at an average rate of 5.8% annually. The biggest year-over-year increase was registered in 2015, when online jewelry sales surged 16.6%.
Experts say the growth the jewelry and watches industry experienced towards the latter part of the previous decade was due to increased demand. This was spurred by consumers’ growing disposable income, which permitted them to not only spend but also spend more on expensive discretionary goods such as jewelry and watches.
Online jewelry sales statistics: 2020 onwards
Since 2020, online jewelry sales statistics have shown growth fluctuations in sales. The industry skyrocketed 36.7% in 2020, as revenues surpassed $12 billion for the very first time. In 2021, the online jewelry market saw revenues grow by 8.3%, to $13.36 billion.
In 2022, total sales grew fractionally by 0.6% to $13.45 billion, the smallest increase expected between 2020 and 2023. This year, the online jewelry market is set to continue growing, with sales forecast to rise by 2.6% to a total of $13.8 billion.
The surge in 2020 is predicted to drive average growth rates up. From 2020 to 2023, the online jewelry market is projected to grow at an average of 13.2% per year—much higher than the 9.5% average annual growth rate from 2017 to 2020.