Luxury jewellery spending soared over 10% in May 2025 across the US, bucking the broader luxury slowdown and signalling a shift in consumer priorities. As handbags and apparel categories continue to struggle, new data suggests shoppers are turning to gold and fine jewellery for their investment value and emotional resonance, leaving flashy logos behind.
According to Citigroup's latest credit card analysis, overall US luxury goods spending declined in early 2025. Yet jewellery has emerged as the sector's most resilient performer, bolstered by rising gold prices, gifting appeal and a growing perception of long-term value.
