Last Updated: April 2026
TL;DR:
- Millennials (ages 30-44) are the biggest jewelry buyers, accounting for an estimated 57% of global jewelry spend despite being just 23% of the population.
- 86% of millennials have self-purchased fine jewelry, compared to 37% of Gen Z who still spend under $500 per piece.
- High earners aged 45-54 spend the most per transaction, even though millennials buy more often.
Jewelry has been part of human culture since Ancient Egypt, but the question of who actually opens their wallet for it today has a clear answer backed by real numbers. In this guide, I’ll break down exactly which age group buys the most jewelry in 2026, why millennials pulled ahead of every other generation, and how that compares to what I see change on the factory floor season after season. If you’re curious how your own spending habits stack up, our piece on whether buying jewelry is a waste of money or a real investment is worth a read too.
What Age Group Buys The Most Jewelry?
Millennials, roughly ages 30 to 44, buy the most jewelry by both volume and total spend. They make up about 23% of the population but account for an estimated 57% of global jewelry purchases, and 86% of them have bought fine jewelry for themselves rather than waiting for a gift.
That’s a massive shift from a decade ago, when fine jewelry was still treated mostly as a gift-giving category tied to engagements, anniversaries, and holidays. According to BriteCo, 80% of American adults overall now buy fine jewelry for themselves — and millennials are the generation driving that number hardest. I’ve watched this play out in our own order data: self-gifting orders for cocktail rings and stackable bands have overtaken gift-wrapped orders for the first time in years.
Millennials aren’t just buying more often — they’re also willing to spend more per piece. Roughly 1 in 5 millennials will spend $2,500 to $5,000 on a single item, and 8% will go above $5,000. That kind of ticket size used to belong almost exclusively to buyers over 50.
Why Do Millennials Buy More Jewelry Than Any Other Generation?
Millennials buy more jewelry because they treat it as a personal investment and a milestone marker, not just a gift category. Rising incomes in their 30s, a cultural shift toward self-purchasing, and viewing fine pieces as assets that hold value all push millennial spending above every other age group.
A now-classic MVI Marketing survey of 1,001 women aged 25-40 with household incomes above $75,000 found that 51% purchased jewelry for themselves — not as a gift from a partner. Only 18% said their jewelry was bought entirely by a spouse. The motivations were personal: buying exactly what they wanted, rewarding themselves for a win, or marking a specific occasion like a promotion or a birthday.
From a manufacturing standpoint, this tracks with what I see in order specs. Millennial buyers ask for solid 14k and 18k gold pieces far more than plated alternatives — they want something that holds resale value, not just something that photographs well for a season. If you’re weighing that same trade-off, our breakdown of whether 18k gold jewelry is actually a good investment covers the resale math in detail.
Is Gen Z Catching Up To Millennials In Jewelry Spending?
Not yet, but Gen Z is closing the gap fast. Gen Z and millennials together now drive 70% of online luxury jewelry purchases, with buyers under 34 making up 54.3% of all online jewelry transactions in the U.S. — even though Gen Z’s average annual jewelry spend is still only around $200 versus $500 for millennials.
The average Gen Z shopper spends less per item and shops more frequently online. According to Statista, this generation is reshaping luxury retail overall, not just jewelry, because they discover pieces through short-form video first and buy on impulse second. 37% of Gen Z buyers still spend under $500 on fine jewelry, which tells me this generation is building buying habits now that will scale up as their incomes grow through their late 20s and 30s — the exact same curve millennials rode a decade ago.
Gen Z also buys differently by category. Necklaces edge out rings as the top pick for this age group, largely because of how they show up on camera for social content, a pattern that’s noticeably different from the ring-first habits of millennials and Gen X.
Do Older Generations Still Spend More Per Purchase?
Yes. High-income buyers aged 45-54 earning over $200,000 a year remain the highest spenders per transaction, favoring luxury watches and investment-grade fine jewelry, even though millennials outpace them in total volume and frequency of purchase.
This is the part of the data that trips people up. Millennials win on total dollars because there are simply more of them buying more often. But if you’re only looking at the size of a single purchase, buyers in their mid-40s and 50s with established careers still write the biggest checks — think investment-grade diamonds, gemstone pieces, and pieces bought to pass down rather than wear daily. Meanwhile, Baby Boomers (ages 61-79) skew conservative: 34% of them still spend under $500 per piece, prioritizing sentimental and heirloom-style purchases over trend-driven buys.
Consumers aged 35-54, particularly women, also remain the most likely group to physically walk into a brick-and-mortar fine jewelry store rather than buy online — a habit millennials under 35 are steadily moving away from.
The Numbers Behind Millennial Jewelry Spending
The dollar figures back up the demographic story. Fine jewelry sales to millennials reached roughly $68.8 billion in a recent tracked period, with year-over-year growth outpacing every other age bracket. According to Grand View Research, the broader global jewelry market continues to expand as younger buyers enter with more disposable income and a stronger preference for buying online direct from brands rather than through department store counters.
Industry data from 2026 also shows consumers under 25 increased jewelry spending by roughly 100% between 2003 and 2013, a trend that never reversed — it just handed the baton to Gen Z as those original under-25 buyers aged into millennial territory. What’s changed is the “why”: fewer purchases are tied to holidays now, and more are tied to personal milestones spread across the whole calendar year.
What This Means If You’re Shopping For Jewelry Right Now
If you fall into the millennial bracket, you’re shopping in the segment sellers care about most, which usually means more options, more financing plans, and more direct-to-consumer brands competing for your order. If you’re buying as a gift rather than for yourself, it’s worth checking our guide on whether jewelry makes a good gift for mom, since gift-buying motivations differ from self-purchase motivations even within the same age group.
And if you’re weighing a specific brand purchase against resale value, our comparisons of whether Cartier jewelry holds its value and whether Pandora pieces are worth the money are a good next stop before you check out.
The Bottom Line
Millennials, roughly ages 30 to 44, buy the most jewelry in 2026 — both in total dollars and in volume of purchases. They self-purchase more, trust solid gold over plated pieces, and treat fine jewelry as part investment, part personal reward. Gen Z is the generation to watch: their spending habits today mirror exactly where millennials were a decade ago, just with a phone in hand instead of a department store counter nearby. Whichever bracket you’re in, buy pieces you’d want to keep wearing in ten years, not just this season — that’s the one habit that separates a smart jewelry purchase from a regretted one. Browse our fashion jewelry category for more buying guides before your next purchase.
Frequently Asked Questions
What percentage of jewelry buyers are millennials?
Millennials account for an estimated 57% of global jewelry spend while making up only about 23% of the population. That imbalance is the clearest signal of any generation’s outsized influence on the jewelry market right now.
Do men or women buy more jewelry?
Women drive the majority of self-purchases across every age bracket, with 51% of surveyed women aged 30+ buying jewelry for themselves rather than receiving it as a gift. Men’s purchases skew more toward gift-giving, particularly around engagements and anniversaries.
Is Gen Z spending more on jewelry than before?
Yes. Gen Z and millennials together now drive 70% of online luxury jewelry purchases, and Gen Z’s average annual spend of around $200 is climbing as this generation’s incomes grow through their 20s.
What age group spends the most per jewelry purchase?
High-income buyers aged 45-54, particularly those earning over $200,000 annually, spend the most per single transaction, favoring investment-grade diamonds and luxury watches over trend pieces.
Why do millennials buy jewelry for themselves instead of waiting for a gift?
Millennials increasingly view fine jewelry as a personal milestone marker and a store of value rather than strictly a romantic gift. Rising incomes in their 30s and a cultural shift toward self-reward purchases both fuel this trend.
Do older generations still buy fine jewelry?
Yes, though less frequently than millennials. Baby Boomers tend to spend under $500 per piece and favor sentimental, heirloom-style purchases, while consumers aged 35-54 remain the most likely group to shop in physical fine jewelry stores.
Stephanie is a jewelry lover when she was a teenager. Her major was fashion design when she was in college. She is a jewelry designer at SOQ Jewelry and other design companies. Now she is also a writer for our website. She writes a lot of designs&brands posts with very actionable tips.