Overall, luxury jewellery is expected to perform relatively well in 2021, with its current value growth rate slowing only slightly. However, the pandemic has resulted in some consumption pattern shifts.
The COVID-19 pandemic, which hit Taiwan in March 2020 and was still impacting Taiwanese society throughout much of 2021, including the implementation of a nationwide lockdown in the middle of the year, has seen the postponement of many events. This has included, for example, many couples who were planning to marry postponing their weddings as large gatherings were either not allowed or people were simply afraid to meet up in large numbers.
The increasing exposure of luxury jewellery in the media has been having a positive impact on demand in recent years. For example, “Bling Empire”, the reality television drama series, which is available to stream via Netflix, has become increasingly popular in Taiwan.
The forecast period current value CAGR is expected to be lower than the review period CAGR, although positive annual growth rates will be seen throughout the 2021-2026 period. Local demand has been impacted to an extent with the government’s attempts to control the spread of the COVID-19 virus having experienced some problems in 2021, resulting in some disruptions in the supply chain.
Throughout much of the forecast period, increasing demand for luxury costume jewellery is anticipated to be one of the main drivers of growth in the overall category. More and more middle-class younger women are seeking to purchase “light jewellery”, ie affordable jewellery that focuses on a basic, elegant design and is easy to style with daily outfits.
Currently, many traditional luxury jewellery brands rely heavily on store-based sales and have very little digital presence. Consumers prefer to visit stores where they can see and even try on the jewellery at the same time as receiving VIP treatment as well as advice from the sales personnel, offering an all-round luxury experience for the consumer.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Jewellery industry in Taiwan 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 Luxury Jewellery industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!