How much money have you spent updating your jewelry collection this year? Well, if you're anything like the average shopper, you probably spent a lot. WWD reports that jewelry has become the fastest-growing accessories category in 2016, beating year-over-year growth percentages for both handbags and shoes.

WWD called upon data from Euromonitor International to come up with its findings. According to the research, shoppers will spend roughly $316 billion on jewelry this year alone—talk about big business! (That includes both fine and costume jewelry combined.) WWD explains how online jewelry shopping has experienced a particularly high rise: "The category’s e-commerce sales grew 15 percent year-over-year, rising to $19 billion. That number was just $9 billion in 2011, according to [Euromonitor International]." In other words, if you haven't bought a new bauble recently, it seems like you may be the only one. 

Could your jewelry collection use a refresh? Scroll down to shop our favorite jewelry picks!

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