US jewellery sales have suffered a difficult start to the year, according to figures released by the International Diamond Exchange (IDEX).

The first quarter of 2007 showed a slowing in sales and the IDEX report has warned that if the current trends continue it will be one of the weakest years in the jewellery sector in the past decade.

Most jewellers saw a reduction in store traffic during the first three months of the year compared to the same period last year and Valentine's Day sales failed to make much of an impression on the market.

High-end retailers also saw a downturn in sales, although figures from the US department of commerce revealed that speciality jewellers' sales rose by a modest 1.4 per cent.

Almost all jewellers said one of their major problems during the first quarter had been that they were unable to pass on the full amount of higher commodity prices, particularly of platinum and gold, in their retail prices.

Source:
IDEX Online Research: U.S. Jewelry Sales & Profits Under Pressure in Q1, 24/06/07
http://www.idexonline.com/portal_FullNews.asp?id=27727~

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