Jewelry Stores

First Research, Inc.
October 27, 2014
10 Pages - SKU: FRRS5362717
Countries covered: United States

Jewelry Stores

Brief Excerpt from Industry Overview Chapter:

Companies in this industry sell jewelry, silverware, watches, and clocks from physical retail establishments. Major US companies include Sterling Jewelers (a unit of UK-based Signet Jewelers), Tiffany, and Zale; other industry leaders include the retail operations of Chow Tai Fook Jewellery Group (China) and Christ (Germany).

Worldwide, jewelry retailers generate about $275 billion in annual revenue, according to Euromonitor International. China and Brazil are key growth opportunities for the industry.

The US jewelry retail industry includes about 23,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $35 billion.

COMPETITIVE LANDSCAPE

Jewelry sales depend largely on consumers' disposable income. Profitability depends on merchandising and effective marketing. Small jewelers can effectively compete with large chains because price isn't the main factor determining sales. The US industry is fragmented: the 50 largest companies generate about 40 percent of revenue.

Jewelry is sold not only by specialized jewelry retailers, but also by department stores and mass merchants. Because regular gross margins are very high, often 50 percent, mass merchants have been able to cut prices and take market share. Wal-Mart and Macy's are among the largest jewelry retailers in the US.

PRODUCTS, OPERATIONS & TECHNOLOGY

Jewelry is often classified as bridal merchandise (engagement, bridal, and anniversary rings) or fashion jewelry (rings, bracelets, earrings, pins, gold chains). Other sources of revenue for retailers include watches, silver flatware, and other giftware. Diamond jewelry and loose diamonds account for the largest share of...



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