Jewellery is set to see a slowdown in current value growth in 2023 as demand normalises, translating to gradually slowing growth rates over the forecast period. Much like in 2022, in 2023 demand will be driven by the more affordable category of costume jewellery.
The jewellery industry remains competitive and brands will continue to be nimble to adapt to shifting consumer preferences and trends, as well as a dynamic retail environment. For example, popular US-based jewellery brand Alex and Ani declared bankruptcy in 2021 and closed its Canadian locations, relying instead on selling its products through jewellers.
E-commerce is expected to continue growing in the forecast period even as consumers return to brick and mortar stores in greater numbers. During the pandemic, consumers and retailers both eagerly shifted to e-commerce, even for high priced purchases.
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Understand the latest market trends and future growth opportunities for the Jewellery industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery segment as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.See All of Our Definitions
This report originates from Passport, our Jewellery research and analysis database.
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