Luxury consumption in the United States is weak, but jewelry is growing against the trend.

According to the credit card data released by Citigroup in July, most luxury consumption in the US has declined, yet consumers' spending on luxury jewelry has increased. The report shows that luxury jewelry has witnessed a 10.1% year - on - year growth, significantly outperforming categories like handbags and ready - to - wear. This trend is closely associated with the increase in gold prices and consumers' demand to consider jewelry as an anti - inflation asset. The report specifically notes that high - end customized collections of brands such as Cartier and Tiffany have contributed to the major growth, and the proportion of sales of products priced over $2,500 per piece has risen to 68%.

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