Jewellery saw a steep decline in current value and volume terms in 2020 due to the store closures and deteriorating consumer confidence during the first year of the pandemic. Even with specialist retailers encouraging customers to shop online, providing special offers and advise, or arranging special appointments to see and purchase products, this was unable to prevent an overall poor performance.
Many jewellery players suffered heavily during the lockdown periods as forced store closures and travel restrictions reduced opportunities to purchase. For example, the retailer Gassan Diamonds strongly suffered as it typically relies on trade from Asian tourists, who were unable to enter the country during lockdown.
Koninklijke continued to lead jewellery in current value terms in 2020 with both its Pandora and Pure brands seeing increases in category share. Despite overall sales decreases in 2020, the company saw an increase in share as consumers, during times of uncertainty, tend to turn to familiar, tried-and-tested brands.
Pre-COVID-19 jewellery was showing healthy growth as an increasing number of Dutch consumers were incorporating jewellery into their daily look as a fashion accessory. During the pandemic, extended restrictions and stay-at-home recommendations reduced the opportunities to wear jewellery as people opted for more informal clothes and comfort wear.
The decline in foreign tourism to the Netherlands was a strong contributing factor to the poor sales results during 2020 and 2021, particularly for luxury brands. Whilst many of the brands that cater to tourists have expanded their focus to new demographics, including new advertising campaigns and digitalisation, the continued travel restrictions will continue to hamper growth of the category in the coming years.
Over the forecast period, international jewellery players are expected to experience more competition from smaller domestic manufacturers that differentiate themselves from existing brands with quality, attractively designed products at affordable prices. Customisation and segmentation are trends that are expected to be seen as brands try new strategies to capture new consumers.
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Understand the latest market trends and future growth opportunities for the Jewellery industry in Netherlands 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 Netherlands, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
This report originates from Passport, our Jewellery research and analysis database.
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