Commentary from Our Experts:
May delivered another solid month for retail jewelers, with gross sales increasing 12% compared to May 2025. That matches the sales growth seen in both March and April, continuing a positive trend through the spring.
However, May shows a greater reliance on higher average retail values to support that growth. Unit sales declined 9%, while average retail sale increased 22%. In comparison, units declined 5% in both March and April. Retail jewelers sold fewer pieces overall in May, but the pieces sold carried significantly higher average values. Elevated gold and silver prices may also be contributing to higher retail values, particularly in metal-intensive product.
Category performance reflects this pattern:
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Diamonds delivered an 8% increase in gross sales, supported by a 21% increase in average retail sale, despite an 11% decline in units. Compared to April, diamonds produced stronger sales growth, with higher average values offsetting greater unit softness.
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Colored stones and pearls remained positive, with sales up 7% and average retail sale increasing 19%, while units declined 10%. After leading growth earlier this spring, the category slowed in May but continued to support performance through higher-value pieces.
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Sterling silver and alternative metals posted a 1% increase in gross sales, with units down 14% and average retail sale up 18%. Higher average values nearly offset the decline in units, but the category delivered limited sales growth in May.
Overall, May continued the higher-value sales pattern seen throughout the spring. Gross sales remained strong, but unit sales softened further, making average retail sale an even more important driver of performance. The results point to a market where sales growth is holding, even as fewer pieces account for a greater share of revenue.
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Source: Edge Pulse aggregated retail jewelry sales data from participating retail jewelers. May 2026 compared to May 2025.
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