A closer look at the rise in jewelry spending led by middle-aged consumers

Jewel360 analyzed the jump in U.S. jewelry spending in 2021—largely among middle-aged adults—using Bureau of Labor Statistics data.
– Canva

Jill Jaracz

The COVID-19 pandemic hurt many industries, but one category shined: jewelry.

Overall jewelry sales increased nearly 38% in 2021 to $94.2 billion, according to the Bureau of Economic Analysis. Consumers nearly doubled their spending, laying out an average of $136.33 on jewelry in 2021, compared to $65.04 in 2020, the Bureau of Labor Statistics reported.

Using BLS data, Jewel360 analyzed the jump in average U.S. consumer spending on jewelry in 2021, largely driven by middle-aged adults. Expenditures were converted to 2021 dollars using annual average CPI values.

After a year of lockdowns, travel restrictions, and COVID-19 stimulus payments, consumers saw the allure of fine jewelry. A 2021 survey by industry group The Plumb Club found 39% of respondents bought more jewelry because they were at home more. Giving gifts of fine jewelry replaced marking special occasions with experiences, and people became more interested in jewelry’s longevity and legacy potential.

The wor