US jewelry sales grew 27.5% in 2021 to reach $47.1 billion, making up 8.8% of the apparels and accessories category.

Across almost all product categories, US luxury shoppers are far more likely to make purchases in-store than online. Physical retail had the widest lead in the food and beverage category, followed by watches and jewelry. Digital got the upper hand in only fashion and travel, suggesting that for many tangible luxury goods, shoppers prefer to see and feel them before spending big bucks.

The jewelry industry will see a significant shift toward ecommerce in the coming years. By 2025, more than one-quarter of jewelry sales will occur online. New Category Breakout: Fragrance (Subset of Beauty and Cosmetics). Similar to jewelry, online fragrance sales spiked in 2021, after seeing little growth the year prior.

In addition to marketing engagement rings and wedding bands, Signet is testing Rocksbox Bridal Subscription, a jewelry subscription service that aims to “make it easy and affordable for every member of a bridal party to shine at showers, engagement dinners, and at the magical ‘I do’ moment,” said CEO Gina Drosos, during the retailer’s earnings call.

After seeing a lot of jewelry options in-store, particularly those that tarnished quickly, fashion and accessories brand Kendra Scott launched 18 years ago to fill a gap in the market.