Executive Summary

Aug 2019
PROSPECTS
Local support for eco-friendly artisanal jewellery

Supporting local companies in the Philippines continued to drive demand for smaller independent brands that are flooding social media platforms, especially for the more affordable costume jewellery. Organisations that support and promote social enterprises such as ChooseSocial.

Fine jewellery still perceived as gift rather than investment

Fine jewellery continued to record low demand compared to costume jewellery as it continued to be driven primarily by purchases for special occasions rather than investment, which hampers potential for stronger growth. Leading fine jewellery players such as Tiffany & Co tend to run marketing campaigns that place an emphasis on gifting purposes and social engagements such as weddings, which therefore limits the purchasing occasions of this category.

Affluent young Filipinos hold potential for fine jewellery

Producers of fine jewellery are also missing an opportunity for stronger sales potential through capturing younger affluent Filipinos, due to a lack of innovative or differentiated marketing strategies. The number of young consumers who are ready and able to spend more money on themselves due to higher disposable incomes and the heavy influence of social media celebrities is booming, and can offer greater potential by enticing them away from more practical jewellery and encouraging them to invest in fine jewellery as they are already showing an enthusiasm for investing in high-end artwork, watches and cars.

COMPETITIVE LANDSCAPE
Fine jewellery aims to attract consumers through marketing and high-profile launches

With a highly fragmented competitive landscape within fine jewellery, which continued to be led by Tiffany & Co, some players resorted to aggressive marketing strategies in an attempt to gain stronger sales and share. Bvlgari’s B.

Fast fashion brands perform well in costume jewellery

Fast fashion brands such as H&M and Forever 21 are highly ranked in costume jewellery and have the ability to offer a wide range of products that attract consumers due to the huge floor space in their stores, with jewellery displayed alongside their clothing ranges, inspiring younger consumers to pair certain pieces with a particular trend or outfit. In addition to offering consumers the chance to choose from a wide selection of costume jewellery, their affordable prices (often below PHP1,000) make them attractive enough for younger Filipinos to purchase them and maybe only use them for one season before moving on to the next trend.

Department stores important channel for costume jewellery

Jewellery offered through department store The SM Store, including Karutora, F&C Jewelry, Hearts & Arrows in addition to private label lines continued to enjoy strong support due to affordable collections and wide visibility amongst mass consumers who are attracted to the store’s regular discounting events. Zirconia is a popular material used to produce costume jewellery, and is often used to create affordable yet glamourous styles, especially for Karutora, which offers a huge range of collections for The SM Store.

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Jewellery in the Philippines

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Overview

Discover the latest market trends and uncover sources of future market growth for the Jewellery industry in Philippines 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 Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Jewellery in Philippines 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 Philippines?
  • 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 the Philippines - Category analysis

HEADLINES

PROSPECTS

Local support for eco-friendly artisanal jewellery
Fine jewellery still perceived as gift rather than investment
Affluent young Filipinos hold potential for fine jewellery

COMPETITIVE LANDSCAPE

Fine jewellery aims to attract consumers through marketing and high-profile launches
Fast fashion brands perform well in costume jewellery
Department stores important channel for costume jewellery

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 the Philippines - Industry Overview

EXECUTIVE SUMMARY

Image-conscious Filipinos look to accessories for social status
Social media supports local brands and attracts influential celebrities for promotion
Highly fragmented personal accessories led by multinationals
Internet retailing continues to gain ground offering convenience and value
Low but stable growth for personal accessories

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