Over the five years to 2017, as per capita disposable income and consumer confidence have increased, shoppers have been able to spend more on the discretionary products retailed at jewelry stores. Nevertheless, increased competition from external industries, as well as steep declines in the world prices of gold and silver, have stifled industry growth over the five years to 2017, causing industry revenue to increase at a slow rate. The industry will continue to post nominal gains over the five years to 2022, with the price of gold further decreasing and limiting price markups, despite economic growth. Consumer spending and purchasing power are both anticipated to rise steadily as the economic climate continues to improve, bolstering demand for jewelry products. Additionally, growth in the number of households that earn more than $100,000 is expected to accelerate slightly through 2022. These factors will aid demand for industry products; however, rising competition from online retailers will pose a threat to the industry.
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.