US jewelry sales at the start of the holiday season are up to 20% above those of the previous year, according to respondents who took part in a Rapaport News survey.
An additional 11% of those surveyed said business had improved between 21% and 50% year on year, while 16% said it was on par with the same period in 2024, and 21% saw a decrease of up to 20%, Rapaport’s 2025 Early Holiday Trends and Sales survey found. Over 40% of those who participated felt tariffs were the main factor affecting sales. Some 34% pegged the economy as the culprit, 20% attributed it to inflation and 3% blamed the weak job market.
Natural was a hot commodity for the holidays, with 61% saying they were selling more mined-diamond engagement rings than lab-grown. Round was the best-selling diamond shape, followed by oval, marquise and pear. Old-cut and cushion stones also performed well, likely drawing inspiration from Taylor Swift’s engagement ring from Travis Kelce.
Mined was also consumers’ top choice for fashion jewelry, getting the nod from more than half of respondents. Diamond tennis bracelets and stud earrings were by far the most picked when it came to fashion jewelry, while custom pieces, jewels with gemstones, and plain gold were strong as well.
Meanwhile, 52% of jewelers who took part in our survey expected sales for the full holiday period to be better than last year. Some 30% believed they would be worse, and 18% projected they would be on par with 2024.
BRON: Rapaport 25-9-2025
