U.S. Shoppers Shell Out for Diamonds Instead of Trips and Meals
- Signet, Tiffany, Macy’s say jewelry sales are climbing again
- Discretionary dollars are shifting amid pandemic quarantines
Americans fortunate enough to keep their jobs through the pandemic may find that a lack of trips and eating out is leaving extra cash in their pockets. So many are turning to a tried-and-true big-ticket purchase: jewelry.
Signet Jewelers Ltd., the owner of Jared and Kay, saw sales turn positive late in the last quarter and continue to climb in August. Tiffany & Co.’s global sales did, too. Macy’s Inc., which also owns Bloomingdale’s, identified diamond jewelry has one of the top product categories at both stores in the quarter ended Aug. 1.