CaratUp nine percent, and the average ticket did the lifting
US jewelry revenue rose 8.6% in the first half and 13% in June, but the average purchase price climbed about 19 to 20 percent. Fewer buyers, spending more: bracelets, pearls and higher-priced pieces carried the gain.
American jewelry sales grew through the first half of 2026, but the growth was priced, not counted. Retail revenue rose 8.6% over the six months and 13% year on year in June, according to point-of-sale figures compiled by Tenoris, while the average purchase price climbed roughly 19% for the half and 20% in June.
Nine percent is a headline a jeweler can live with, but the honest number underneath it is the one on the tag, not the till. Sell the bracelet and the strand of pearls while the appetite for a real purchase is there, because a market held up by price is only ever one nervous quarter from finding out how many buyers it actually has.
| Figure | |
|---|---|
| BRACELETS (tennis-led) | +14% rev |
| AVG TICKET (all jewelry) | +19% |
| June Revenue | +13% |
| H1 Revenue | +8.6% |
IBigger tickets, a thinner crowd
The store is ringing up bigger tickets from a thinner crowd, a pattern that flatters the top line and hides a narrowing base.
The gain concentrated at the higher-priced end. Bracelets, tennis styles in particular, led with a 14% revenue increase and double-digit growth in what shoppers were willing to spend on them. Pearl jewelry had what analysts called a surprisingly strong first half. Pendants and earrings held their own but trailed the leaders.
The through-line is that the pieces carrying the market are the ones with a higher entry price, not the impulse buys near the register.
IITwo diamonds, two engines
The two diamond categories tell different stories. Natural-diamond jewelry grew revenue at a single-digit rate, with unit sales down but higher average selling prices making up the difference and gross margins holding firm. Lab-grown moved the opposite way: revenue rose almost entirely on more units sold, while the average amount spent stayed essentially flat.
One engine runs on price discipline, the other on volume, and rising rough costs could yet press on the cheaper of the two.
IIIJewelry outran the mall
Set against the wider economy, jewelry outran the mall. US retail sales overall rose just 0.2% in June as tax-refund tailwinds faded and shoppers turned cautious.
Against that backdrop a double-digit jewelry month looks strong, but the composition matters: a market that grows by selling dearer goods to fewer hands rewards the specialist counter and squeezes the value end, where a shopper who used to trade up now often trades out.
01Method · the desk’s arithmetic+
US point-of-sale, H1 2026 (Tenoris). Bars show size, not sign.
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The trade, filed before the New York open.
Prices, tenders and the one story that moved the industry overnight. Ninety seconds.
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