The U.S. jewelry market was valued at USD 41.81 billion in 2025 and is projected to reach USD 44.79 billion in 2026 and USD 78.15 billion by 2034, growing at a CAGR of 7.2% from 2026 to 2034. Demand for engraved, birthstone, and made-to-order pieces has grown, especially among Millennials and Gen Z, encouraging brands to expand customization through online platforms and in-store digital tools.

What Millennials and Gen Z Want

The report identifies Millennials and Gen Z as key target users, with preferences centered on individuality, digital influence, and everyday wearability. They prioritize jewelry as a form of identity, favor minimalist, lightweight, and stackable pieces for daily wear, and show growing preference for recycled metals and transparent sourcing. Gender-neutral and inclusive designs are also in demand. Polaris concludes that these generations are shifting the market from occasion-based purchases to frequent, lifestyle-driven consumption. More women are also buying jewelry for themselves as a symbol of success or self-expression, particularly in urban markets with higher disposable incomes. Younger consumers value comfort and versatility, favoring pieces that transition easily from casual to formal settings.

Demi-Fine Jewelry Bridges Two Worlds

Demi-fine jewelry, such as gold vermeil and gold-plated silver, offers a balance between fashion and fine jewelry at accessible price points, and Polaris cites rising demand from younger buyers. Increasing demand for aspirational luxury among younger consumers is also encouraging branded players to offer accessible product lines without compromising quality, and the branded category is projected to grow at a CAGR of 7.6%, supported by certifications, warranties, and consistent design language. The unbranded category still held roughly 66% of revenue in 2025 on local, customizable, and affordable offerings.

By category, fashion jewelry targets mass-market consumers, especially Gen Z and millennials focused on affordability and experimentation, and is sold through fast-fashion retailers, e-commerce platforms, and accessories brands.

Social Platforms and Influencer Marketing

Social platforms shape purchasing behavior. Instagram, Pinterest, TikTok, and Facebook are effective in promoting new collections and seasonal trends, and influencer marketing and viral trends accelerate product discovery and shorten buying cycles. High-impact campaigns by influencers and celebrities are described as shaping consumer choices, while brand storytelling, loyalty programs, and digital customization features help drive repeat purchases.

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Virtual Try-On and Omnichannel Retail

Online shopping has made jewelry buying more convenient. Virtual try-on tools, 360-degree product views, and interactive interfaces help buyers decide from home. In 2024, Blue Nile reported a 23% increase in online sales compared with the previous year, attributing the growth to AI-powered virtual try-ons, real-time video consultations, and customizable engagement ring builder features. The online channel is projected to grow at a CAGR of 7.8%.

Offline retail still held roughly 72% of revenue in 2025, as buyers want to see, feel, and try on high-value pieces. Retailers are therefore blending channels through an omnichannel model that includes click-and-collect, video consultations, and in-store returns for online purchases. Polaris says this approach enhances consumer confidence for higher-value items. In August 2023, Tanishq collaborated with Oracle Cloud Infrastructure to optimize inventory management and reduce technology support costs by 30%. Technology advances such as AI-driven personalization and blockchain-based traceability continue to redefine engagement.

Brick-and-mortar stores continue to offer personalized service, certification assurance, and custom fitting, and showrooms are adding digital displays and real-time customization tools. Younger buyers are drawn to mobile-first shopping and limited-edition online drops, and hybrid models that connect online platforms with in-store services are becoming a key strategy to drive sales and loyalty.

Key Players

• Buccellati
• Blue Nile
• Cartier
• Chow Tai Fook Jewellery Group Limited
• LVMH Group
• Malabar Gold & Diamonds
• PANDORA JEWELRY LLC
• SHR Jewelry Group LLC
• Swarovski
• Swatch Group AG
• Titan Company Limited

Conclusion

The next phase of the U.S. jewelry market will be shaped by who is buying and how they shop. Millennials and Gen Z reward personalization and affordability, which supports demi-fine jewelry, while influencer marketing speeds discovery. Virtual try-on tools build confidence online, and an omnichannel model connects those digital experiences to the in-store service that still drives most revenue. B2B stakeholders should invest in integrated retail experiences and flexible product ranges.

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