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JEWELRY SALES RISE DURING THE PANDEMIC

Many jewelry brands admitted that during the pandemic, their sales even increased or decreased slightly that published by The New York Times. For example, the sales of Tiffany & Co. in the third quarter of 2020 reached $ 1 billion, which is less than last year for the same period by only one percent.

Australian jewelers reported an increase in demand. Retail Edge Consultants estimates that jewelry sales for November 2020 up 20% over-year. This trend started back in July.

There are several reasons for this growth at once. For a long time before the holiday season, there is no eternal competitor to jewelry brands on the market – travel. If earlier people invested all their money in travel, now there is simply no such opportunity. And you have to spend money on something!

Another more rational reason is investment. Precious stones and jewelry seem to be very reliable assets that willn’t disappear at any moment. In times of instability these investments that instill confidence in the future.