According to data issued by the US Department of Commerce, watch and jewellery sales in the United States declined 7.1% in April. This is a little improvement from the 8.8 percent dip in March.
Year-on-year sales increased modestly beginning in May 2022, but fell below zero in October 2022, where they have remained ever since (with the exception of a 0.8% increase in January).
Inflation in the United States has recently slowed. It was 4.9% in April, but the cumulative effect of many months of price increases (peaking at more than 9% in June) has definitely hit many customers.
The Federal Reserve has been increasing interest rates month after month, and most experts believe a recession is now unavoidable.