Friday, December 27th 11:11 AM IST

US Jewelry sales rises 9.1% in Nov on start of Christmas shopping

# gold jewelry  # US jewelry market  # precious metals  

Comparatively, department store sales in November fell 4.3% year on year to $17.47 billion. Department store sales have had a difficult year, falling 5% for the first 11 months of 2013 to $150 billion.

WASHINGTON (Bullion Street): US jewelry sales rose 9.1% in November at the start of the Christmas shopping season, maintaining a 12-month running total of $72.6 bn. 

Sales of watches increased 11.3%, representing an annual total of $9.9 billion. Meanwhile, the U.S. consumer price index (CPI) for jewelry in November was flat, while it increased 3.9% for watches, according to Rapaport news report.

Comparatively, department store sales in November fell 4.3% year on year to $17.47 billion. Department store sales have had a difficult year, falling 5% for the first 11 months of 2013 to $150 billion. Retail sales for all product categories in November rose 4.7% year on year to $432.3 billion. Retail trade sales increased 4.6% year on year and nonstore retail sales improved 9.4% compared with November 2012. 

Analytics firm RetailNext determined that foot traffic to stores fell 2.8% year on year in November; however, conversions rose so sales improved 1%. When coupling Black Friday with Thanksgiving Day, overall traffic was up 1.3%, according to RetailNext and total sales for both days increase 5.8% compared with the same holiday weekend in 2012. 

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