Executive Summary

Jul 2019
PROSPECTS
Engagement rings repositioned as commitment rings as number of weddings continues to fall

Engagement rings is an important category within fine jewellery, and the fact that the number of marriages is on a continuous decrease in Mexico represents a challenge for players in this environment. As a result, players implemented strategies aimed at overcoming the decline in demand for engagement rings for their traditional purpose.

Consumers increasingly mix and match jewellery styles to create a personalised look

Opportunities for jewellery growth in coming years will be to increase consumers’ “everyday wearing” habit. As dress codes continue to relax, this is encouraging Mexicans to wear a combination of different jewellery styles.

Department stores gain share due to combination of financial strength, product range and convenience

In terms of distribution, the department stores channel is gaining share, while jewellery specialists are seeing share decline. This is because department stores have greater marketing muscle than their smaller counterparts and are more likely to invest in digital and print advertisements.

COMPETITIVE LANDSCAPE
Luxury players seek to maintain consumer loyalty by standardising international prices...

International luxury players such as Swarovski Crystal SA de CV and Tiffany & Co de Mexico SA de CV are pursuing international standardisation in terms of unit prices, regardless of the currency exchange rate, as well as in terms of product assortment and marketing strategies. The benefits of this are that the consumer no longer needs to chase the best prices for products in other countries, which stimulates local consumption.

...While Pandora adopts opposing strategy, offering Mexico-specific products

In some contrast to the standardisation efforts demonstrated by some players, Pandora is making efforts to “tropicalise” its portfolio, with some items adapted specifically to the local market. This is expected to be a successful strategy that will contribute to build an emotional link between the brand and Mexican consumers.

While larger players compete by shifting portfolios, Joyería Tous takes lead by opening more outlets

Overall the jewellery environment is fragmented, although some companies have successfully created brand awareness, strong distribution networks and share, albeit still in single-digit territory. Examples include the Joyerías Bizzarro SA de CV, and Swarovski Crystal SA de CV.

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Jewellery in Mexico

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Overview

Discover the latest market trends and uncover sources of future market growth for the Jewellery industry in Mexico with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Jewellery industry in Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.

The Jewellery in Mexico market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • How do sales of costume jewellery compare to real jewellery in Mexico?
  • What type of jewellery is most popular: rings, wristwear, neckwear, or earrings?
  • What are the prospects for non-store retailing in jewellery?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Jewellery market research database.

Jewellery in Mexico - Category analysis

HEADLINES

PROSPECTS

Engagement rings repositioned as commitment rings as number of weddings continues to fall
Consumers increasingly mix and match jewellery styles to create a personalised look
Department stores gain share due to combination of financial strength, product range and convenience

COMPETITIVE LANDSCAPE

Luxury players seek to maintain consumer loyalty by standardising international prices...
...While Pandora adopts opposing strategy, offering Mexico-specific products
While larger players compete by shifting portfolios, Joyería Tous takes lead by opening more outlets

CATEGORY DATA

Table 1 Sales of Jewellery by Category: Volume 2014-2019
Table 2 Sales of Jewellery by Category: Value 2014-2019
Table 3 Sales of Jewellery by Category: % Volume Growth 2014-2019
Table 4 Sales of Jewellery by Category: % Value Growth 2014-2019
Table 5 Sales of Costume Jewellery by Type: % Value 2014-2019
Table 6 Sales of Fine Jewellery by Type: % Value 2014-2019
Table 7 Sales of Fine Jewellery by Collection: % Value 2014-2019
Table 8 Sales of Fine Jewellery by Metal: % Value 2014-2019
Table 9 NBO Company Shares of Jewellery: % Value 2014-2018
Table 10 LBN Brand Shares of Jewellery: % Value 2015-2018
Table 11 Distribution of Jewellery by Format: % Value 2014-2019
Table 12 Forecast Sales of Jewellery by Category: Volume 2019-2024
Table 13 Forecast Sales of Jewellery by Category: Value 2019-2024
Table 14 Forecast Sales of Jewellery by Category: % Volume Growth 2019-2024
Table 15 Forecast Sales of Jewellery by Category: % Value Growth 2019-2024

Personal Accessories in Mexico - Industry Overview

EXECUTIVE SUMMARY

Societal trends such as urbanisation and growing female workforce influence market developments and brand positions
Manufacturers reposition products or innovate to maintain consumer appeal
Handbags and watches benefit from positions as status symbols
Specialists remain important due to ability to advise and offer personal service
Polarity in consumer spending power will continue influencing market developments in coming years

MARKET DATA

Table 16 Sales of Personal Accessories by Category: Volume 2014-2019
Table 17 Sales of Personal Accessories by Category: Value 2014-2019
Table 18 Sales of Personal Accessories by Category: % Volume Growth 2014-2019
Table 19 Sales of Personal Accessories by Category: % Value Growth 2014-2019
Table 20 NBO Company Shares of Personal Accessories: % Value 2014-2018
Table 21 LBN Brand Shares of Personal Accessories: % Value 2015-2018
Table 22 Distribution of Personal Accessories by Format: % Value 2014-2019
Table 23 Forecast Sales of Personal Accessories by Category: Volume 2019-2024
Table 24 Forecast Sales of Personal Accessories by Category: Value 2019-2024
Table 25 Forecast Sales of Personal Accessories by Category: % Volume Growth 2019-2024
Table 26 Forecast Sales of Personal Accessories by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources