Luxury jewellery registered a huge hit in 2020, due to the pandemic. In 2021, with society gradually opening up, including retail outlets, value growth is expected to be very healthy.
Richemont retains its leadership of a highly fragmented competitive landscape for luxury jewellery in 2020, offering leading brand Cartier, in addition to Van Cleef & Arpels and Montblanc. It is also the only company with a double-digit value share.
With inflation rising in 2021 and the real value of savings therefore declining, many higher-income consumers are expected to spend money on luxury jewellery, as they perceive luxury jewellery not only as a luxury to be enjoyed, but also as an investment that could potentially gain value. Precious metals such as gold and platinum, as well as precious stones are considered, an investable asset.
The outlook for luxury jewellery is positive, with very healthy constant value growth predicted over the forecast period. There is large potential for growth, as consumers’ purchasing power continues to increase.
Demand for luxury costume jewellery will continue to increase, driven mainly by younger consumers and will register higher constant value growth than luxury fine jewellery. The younger generation are increasingly searching for interesting pieces that allow them to show their status and distinguish themselves from their peers.
Luxury jewellery will continue to be dominated by products targeting women, with value sales for women being well over three times higher than for men. This is also partly driven by higher average unit price for women’s luxury jewellery, compared to men’s.
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Understand the latest market trends and future growth opportunities for the Luxury Jewellery industry in Poland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of luxury fine jewellery and luxury costume jewellery.See All of Our Definitions
This report originates from Passport, our Luxury Jewellery research and analysis database.
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