A significant number of high-end jewelers reported increasing or steady sales over the festive period, despite many retailers suffering a tough festive period.

Jewelers' Circular Keystone's annual holiday report showed that many stores reported "significantly higher" sales than the record breaking numbers from the previous year.

Those who fared best were the luxury suppliers catering for the high-end of the market.

The report stressed that ultra luxury watches and bridal jewelry were among the most popular items.

Other bestsellers included diamond stud earrings, colored stone items and Mikimoto and David Yurman designs.

Jewelers that had a successful holiday period often attributed their burgeoning sales to a booming online business.

Dale Ferber of Ferber Jewelry in Jackson, Mississippi, told the magazine that his 30 per cent sales increase was due to online selling and increased advertising.

These sentiments were echoed by Blue Nile, an online retailer which saw its fourth quarter revenue sales increase by 24 per cent.