As the unemployment and poverty rates have flattened out, consumer confidence has returned to healthy levels and demand for industry products has grown, helping the Jewelry Stores industry regain its luster. However, recent contractions in the world price of gold have suppressed jewelry prices in recent years and reduced industry revenue in recent years. As the economy has improved, growing disposable income has spurred more consumers to purchase discretionary jewelry pieces. High-income consumers are more likely to purchase luxury goods that provide greater returns to operators, boosting industry profit. The industry will continue to post nominal gains over the five years to 2021, with the price of gold decreasing further and limiting price markups despite economic recovery. Consumer confidence and purchasing power are both anticipated to rise steadily as the economic climate continues to improve, bolstering demand for jewelry products.
Operators in this industry sell new jewelry, timepieces and sterling and plated silverware. Companies that vend these products in combination with engraving or repair services are also included in the industry. Operators do not cut and set gemstones or sell costume jewelry or antiques. They also do not sell used goods or provide repair services without also selling new jewelry products. Moreover, this industry does not include internet, mail order or direct sales retailers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.