The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreJan 2021
US$990Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Sales of luxury jewellery in the US dropped sharply in 2020 as efforts to curb the spread of COVID-19 forced the closure of key store-based retail channels throughout much of the year, as well as led to a severe reduction in travel and subsequent tourist spending. While international retail expenditure typically represents over 30% of total luxury jewellery sales in the US, this fell to just over 20% of a much lower total in 2020 as international and domestic travel restrictions alike prevented wealthy international students and travellers, key drivers of luxury jewellery sales, from visiting large cities and other luxury shopping destinations.
Further reducing demand for luxury jewellery was a lack of consumer need amid not only lockdowns and quarantines, but also throughout the rest of the year as consumers spent significantly more time at home than in typical years. Without an opportunity to show off their luxury jewellery at work or during large social events and gatherings, consumers with discretionary income instead purchased good and services to help make their increased time spent at home more comfortable, such as food and alcohol delivery, furniture, home décor and home entertainment systems, in addition to allocating more of their money to savings.
Leading luxury jewellery players, including Tiffany & Co, and Richemont’s Cartier and Van Cleef & Arpels, the top three selling brands in 2019, respectively, saw their 2020 sales particularly affected by the postponement of engagements and weddings amid the closure of churches and bans on large gatherings as a result of the pandemic. With subsequent sales of luxury jewellery products such as engagement rings, a key product category for the leading brands, also delayed as a result, these and other jewellery players sought to convince consumers to undertake purchases far in advance of future events through digital marketing campaigns on social media and e-commerce sites, while also promoting their other product categories more heavily than in a typical year.
Files are delivered directly into your account within a few minutes of purchase.
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.
Delivery
Files are delivered directly into your account within a few minutes of purchase.
Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Jewellery industry in USA 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 Luxury Jewellery industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Jewellery in USA market research report includes:
Our market research reports answer questions such as:
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.