Jewelry and Silverware Manufacturers NAICS 339910

Jul 6, 2026 - Non-Bridal Diamond Demand Grows

• De Beers' latest US Diamond Acquisition Study points to favorable demand trends for US jewelry manufacturers as consumers spend more on natural diamond jewelry and seek more distinctive, personalized designs. The average natural diamond jewelry purchase price increased 25% to $4,063 in 2025 from $3,242 in 2023, driven by larger average carat weights (1.86 carats versus 1.65 in 2023). While bridal purchases remain important, non-bridal occasions now account for 75% of US natural diamond demand, expanding opportunities for manufacturers to develop products for gifting, self-purchase, and milestone celebrations. Gen Z represents 23% of natural diamond demand value despite making up 18% of the population and spends an average of $4,080 per purchase—nearly double Baby Boomers' average. De Beers also reported natural diamond sales at 950 US independent jewelers rose 4% year over year in Q4 2025 and 9% in Q1 2026, supporting continued demand for natural diamond jewelry.
• Consumer confidence remained weak in June 2026, creating a complex demand environment for the US jewelry manufacturing industry. The Conference Board Consumer Confidence Index edged up to 91.2 from 90.6 in May, while the Present Situation Index fell to 116.4 as labor market perceptions weakened, although the Expectations Index held at 74.4, reflecting modestly improved views of future business conditions and incomes. Separately, the University of Michigan's Consumer Sentiment Index rose 10.5% to 49.5, with the Current Economic Conditions Index increasing to 47.7 and the Consumer Expectations Index climbing 15.0% to 50.7. Despite these gains, sentiment remained 18.5% below year-earlier levels, and more than half of consumers continued to cite high prices as a financial burden. Weaker discretionary spending may reduce orders for fine jewelry, prompting manufacturers to focus on value-priced products, inventory management, and production flexibility until consumer demand strengthens.

• LVMH’s watches and jewelry division grew about 7% in the first quarter of 2026, driven largely by Tiffany & Co, which has become a key performance engine for the group and contributed more significantly to overall results than slower-growing categories like fashion, according to a Merca 2.0 report. Tiffany’s momentum reflects successful repositioning, brand investment, and expansion in major markets, helping it stand out in a challenging luxury environment. More broadly, jewelry’s strength is tied to its perception as a lasting, high-value purchase with consistent demand from occasions like engagements and gifting. For the US jewelry store industry, this indicates relative resilience, with stable demand supported by affluent consumers and milestone-driven purchases, even as other discretionary retail segments face greater volatility.
• With jewelry ranking as the top category by total dollars spent for Mother’s Day 2026, the holiday was expected to generate a record $38 billion in overall spending and drive increased demand for US jewelry manufacturers, according to the National Retail Federation. Jewelry sales were projected to reach $7.5B, reflecting strong consumer willingness to purchase higher-value items. About 45% of consumers planned to buy jewelry, up from last year, supporting steady order volumes for manufacturers. The emphasis on unique and meaningful gifts also benefits production of customized and design-driven pieces. Rising average gift spending ($284) further supports higher-margin product mix. Overall, Mother’s Day remains a key seasonal demand driver, boosting production activity, inventory turnover, and short-term revenue opportunities for domestic jewelry manufacturers.