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    Jewelry Stores Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 1/4/2021
    SIC Codes: 5944
    NAICS Codes: 44831
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Jewelry Stores Industry Profile

    Companies in this industry sell jewelry, silverware, watches, and clocks through electronic home shopping and physical retails stores. Major US companies include Sterling Jewelers and Zale Jewelers (both units of Bermuda-based Signet Jewelers), as well as Tiffany & Co.; other industry leaders include the retail operations of Chow Tai Fook Jewellery Group (China), Richemont (Switzerland), and Swatch (Switzerland).

    Estimated at $310 billion in 2015, the global jewelry market is expected to grow at a rate of 5% per year through 2020, according to Euromonitor data cited by Bloomberg Intelligence. Major markets include North America, China, and Japan. Emerging markets, such as India and the Middle East, are key growth opportunities for the industry.

    The US jewelry retail industry includes about 21,300 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $29 billion.

    COMPETITIVE LANDSCAPE

    Demand is driven largely by consumers' disposable income. Profitability depends on merchandising and marketing. Large companies enjoy economies of scale in purchasing. Small jewelers can compete with large chains by establishing favorable reputations. The US industry is fragmented: the 50 largest companies generate about 40% of revenue.

    Jewelry stores face competition from department stores, mass merchants and warehouse clubs, home shopping TV channels, online retailers, and auction sites. Mass merchants have been able to cut prices and take market share.

    Also, as marriage rates decline around the world, competition for engagement jewelry sales has become ...

     
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