US Jewelry and Watches: Amazon Now Bigger than Costco and Tiffany

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US Jewelry and Watches: Amazon Now Bigger than Costco and Tiffany

Amazon leapfrogged Costco and Tiffany last year to become the third biggest watch and jewelry retailer in the US.

Its 2020 sales leapt by almost 40 per cent, from $1.62bn to 2.24bn as the pandemic forced more and more customer online.

Signet, with almost 2,500 outlets, remained the biggest seller by far, according to National Jeweler magazine’s The $100m Supersellers league table. But sales were down 13 per cent on the previous year to 4.84bn.

Walmart was second-placed, with sales of 2.86bn, down marginally on its 2020 performance.

Amazon jumped from fifth to third place. Costco remained in fourth position with sales of £1.63bn (down from $1.69bn).

Richemont moved up from sixth to fifth place with sales almost unchanged – up from $1.54bn to $1.56bn.

Tiffany & Co moved down the table from third place to sixth, as sales plunged from $1.66bn to $1.22bn.

Macy’s remained in seventh place, as sales fell from $1.5bn to $1.13bn.

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