Jewelry sales in the U.S. are expected to rise 6.3 percent from 2005 to reach $62.6 billion by the end of the year, according to the Bureau of Economic analysis.
Jewelry stores reported strong sales through the first half of 2006, with jewelry retailersâ€™ sales growing 8.3 percent from the 2005 mid-year results. From January to June this year, jewelry sales have topped $14.7 billion.
A report by Unity Marketing showed that Americaâ€™s leading retail jewelers, Zale Corporation and Sterling Jewelers have not kept pace with consumersâ€™ growing desire for jewelry. As a result, Unity said there is greater potential for the market to further expand to reach more consumersâ€™ needs by the end of the year.