World Market for Jewellery

March 2020

Jewellery remains dominated by the fine segment, with Asia Pacific now the category’s global growth engine. Jewellery is set for further growth through to 2024, although in the short term, the coronavirus is poised to negatively impact China’s demand, and the rest of the world. However, successful jewellery brands will be those embracing the ever-stronger casualisation, self-gifting and digitalisation trends that have led to the rise of demi-fine jewellery in recent years.

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Key Findings

Affordable, trend-led and gender neutral

Changing consumer spending priorities stimulate the shift towards affordable fashion statements and lower priced jewellery. Reducing unit price is noted in both fine and costume jewellery, with demi-fine and fast fashion brands gaining momentum. Meanwhile, the growing social media influx makes jewellery wear more casual and inclusive.

Aspirational shopping

Jewellery shopping is increasingly aspirational amid younger image-driven consumers, who are usually taking their inspiration online. Trends in designs and metals are now dictated by influencers, while Mix & Match items are going viral after successful digital campaigns.

Experiential retail

Modern consumers remain fascinated by ultimate in-store experiences, albeit they are also becoming more comfortable shopping online. This drives the relevance of omnichannel retail, which is expected to become the key area of continuing perfection and expansion for all ranks of jewellery players in upcoming years.

Anchoring self-gifting

Increasing working lives and purchasing power of women support growing importance of self-gifting. Jewellery purchase is becoming more casual than occasional, as consumers are less willing to wait to threat themselves. Growing diversity and inclusivity also stand out opening new niches for further expansion in jewellery.

Greater transparency

Sustainability is increasingly outgrowing the status of mere buzzword within the fashion industry. And if, at the moment, reusable sourcing is not that relevant in jewellery, building higher trust and transparency steadily becomes a vital business strategy component.

Introduction

Scope
Areas of opportunity

Global Outlook

Jewellery continues to shine possessing a positive outlook
Fine jewellery remains the cornerstone of the industry…
…while future demand is vague due to global constraints
US-China trade war to hit Chinese consumer confidence
Drop in Chinese demand in Covid-19 outbreak hits global sales
Asia Pacific maintains lion’s share in jewellery and keeps growing
Fine dominates but costume jewellery surges
Asia Pacific to drive global value growth in jewellery
Omnichannel approach is taking root…
…as URL and IRL complement each other

Leading Companies and Brands

Online lures consumers and supports growing fragmentation
Competition intensifies at the top amid M&As…
…while luxury players are geared to sparkle in fine jewellery
Increasing price sensitivity drives growth of non-luxury players

Top Five Trends Shaping the Industry

Top five trends in jewellery
Social media fuels demand for affordable trend-led jewellery…
…and gender neutrality
Growing relevance of digital transformation and social commerce
Expanding boundaries of traditional retail
Anchoring self-gifting bolsters demand in jewellery
Sustainability is steadily growing in importance for consumers

Market Snapshots

Jewellery: regional snapshot
Asia Pacific
Australasia
Eastern Europe
Latin America
Middle East and Africa
North America
Western Europe

Appendix

Definitions

Appendix: Competitor Analytics

Competitor Analytics tool
Overview
Competitors
Market Overlap
Treemap
Overlap Matrices
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