Because education is an important factor in creating the ability to generate higher earnings, it is not surprising that people that have not graduated from high school spent the least on fine jewelry purchases and watch buying when comparing expenditure by education.
Based on the latest consumer expenditure survey of US households, those that have not graduated from college spent about 70% to 21% below the average on jewelry and watches. Conversely, college graduates spent on average about 64% above the average.
What is perhaps surprising is that while expenditure rose with education, it tapered off at a bachelor’s degree. Americans with a master’s, professional or doctoral degree spent about 11% less on watches and jewelry purchases than those with a bachelor’s degree.
For more insights on the demographics of American consumer expenditures on fine jewelry and watches, please see this report.
For the 2020 average US jewelry spending data, including updated historic figures, please go here.