Jewellery in the US

2020 IMPACT

Lack of consumer demand amid quarantines dampens sales

Facing economic constraints and with few places to wear both fine and costume jewellery amid lockdowns and quarantines, consumer demand for jewellery is set to fall significantly in 2020. Without an opportunity to show off their jewellery at work or during large social gatherings, consumers with available discretionary income instead will purchase items to make their increased time at home more comfortable, such as furniture, home décor, or electronics.

Closure of leading retail channels further restricts sales

With the majority of jewellery sales occurring through store-based retail channels, including jewellery and watch specialist retailers, the category’s largest sales channel by value sales, sales of jewellery are expected to be further restricted by the prolonged closures of key store-based retail channels under government-mandated lockdowns throughout 2020. While jewellery sales were able to continue unabated in some parts of the country via essential retailers such as hypermarkets and warehouse clubs, these channels represented a small share of value sales of jewellery, especially compared to department stores and non-grocery specialist retailers.

Travel restrictions and wedding postponements postpone purchases

Further contributing to the challenges of both fine and costume jewellery in 2020 were the effects of domestic and international travel restrictions, in addition to bans on large gatherings, which prompted the postponement and cancellation of holidays and major life events, including weddings. Travel restrictions led many foreign consumers, who represent key drivers of fine jewellery sales of iconic brands including Tiffany & Co, Pandora, and Cartier, the top-three players in jewellery, respectively, to cancel their travel plans and consume at home instead.

Files are delivered directly into your account within a few minutes of purchase.