Having plunged by more than a quarter during 2020 due do disruption arising from COVID-19 and the economic shock that it engendered, retail current value sales of jewellery will see no more than a modest rebound in 2021. A lack of inbound international tourism led to reduced demand for luxury brands of fine jewellery, while the cancellation or postponement of major life events, such as weddings, due to the initial ban on major gatherings had a significant impact on demand for wedding jewellery, particularly rings.
With consumers spending much more time at home and specialist retailers shut for much of the year, e-commerce grew significantly in importance as a distribution channel for jewellery in 2020. This was particularly the case for costume jewellery, where online fashion retailers like Zolando and About You are now paying more attention to these products.
Necklaces and earrings are growing in popularity among Swiss consumers at the expense of rings and bracelets. Social media is thought to be at the root of this, as local consumers increasingly want pieces that are easy to show off on their Instagram or TikTok accounts.
Retail current value sales of jewellery will continue to rebound during 2022, but they are not forecast to recovery to their pre-pandemic (2019) level until 2026. Fine jewellery will continue to outperform costume jewellery during both 2022 and the forecast period as a whole.
E-commerce will continue to grow in importance in jewellery during the forecast period, particularly for costume jewellery, as local consumers become ever-more confident shopping online and both brands and retailers increase their investment in this channel. Within costume jewellery, digital native brands will proliferate, putting downward pressure on unit pricing.
While fine jewellery is set to experience a recovery over the forecast period, it will continue to struggle to attract younger consumers who place a greater emphasis on experiential consumption or exhibit a greater interest in buying gadgets. The increasing expansion by luxury brands within costume jewellery towards the end of the review period by globally renowned designer names could also offer further competition.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Jewellery industry in Switzerland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jewellery industry in Switzerland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Jewellery research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page