Polishing up: Industry growth is supported by demand from consumers with high incomes

Operates in the Jewellery and Watch Stores industry sell jewellery, watches, clocks, silverware and gift items across varying price points. Jewellery and watches are considered to be discretionary items, and therefore demand is linked to levels of consumer confidence and household disposable income. At the beginning of the five-year period through 2018-19, an improving economy supported demand for industry products, with consumers upgrading their lifestyles and opting to purchase more mid-range jewellery. Since the EU referendum result, consumer confidence levels have been falling and disposable incomes have become constrained...read more.

Industry Statistics & Market Size
Revenue
£6bn
Annual Growth 14-19
2.2%
Forecast Growth 19-24
Profit
Employment
43,294
Businesses
4,041

Industry Threats & Opportunities

  • Sustained demand from consumers in the highest income quartile has supported growth
  • Increasing competition from department stores and online retailers has limited enterprise growth
  • Competition from department stores is expected to grow, particularly for luxury products
  • Industry Report - Industry Analysis Chapter

    The Jewellery and Watch Stores industry has grown relatively steadily over the past five years. An improving economy over the beginning of the period boosted demand for mid-range jewellery, with increasing disposable incomes resulting in consumers upgrading their lifestyles at the expense of low-end, cheaper costume jewellery. Following the referendum result, the sharp fall in the value of the pound increased demand from tourists seeking to take advantage of the favourable exchange rate, benefiting industry revenue. However, weak confidence and constrained disposable incomes are expected to have resulted in lower income consumers trading down to purchasing cheaper goods. Non...purchase to read more.

    Additional Insights for the Jewellery & Watch Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Jewellery & Watch Stores Industry are

  • Having a clear market position
  • Having a good technical knowledge of the product
  • Ability to control stock on hand
  • IBISWorld analysts also discuss how external factors such as Expenditure by household income- highest quintile and Real household disposable income in the Jewellery & Watch Stores industry impact industry performance..

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    What's in this report

    What is the Jewellery & Watch Stores Industry?

    The companies that participate in this industry specialise in selling jewellery and watches to the general public through speciality stores and retail outlets. They also sell clocks, silverware and other gift items. Jewellery sold through department stores and other non-specialist stores is not included in the industry.

    Industry Products
  • Diamond jewellery
  • Watches and clocks
  • Gold and silver jewellery
  • Silverware and other gift items
  • Platinum jewellery
  • Industry Activities
  • Jewellery retailing
  • Watch and clock retailing
  • Silverware and gift item retailing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Expenditure by household income- highest quintile
  • Real household disposable income
  • Demand from department stores
  • World price of gold
  • Consumer confidence index

  • Current Performance
  • Brightening revenue
  • Enterprise trends and competition
  • Input costs
  • A cut above
  • Chart: Revenue Growth

  • Industry Outlook
  • Effects of the referendum
  • Competitive pressures
  • 3-D printing
  • Table: Jewellery & Watch Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Jewellery & Watch Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Jewellery Manufacturing
  • Security System Services
  • Watch & Clock Manufacturing
  • Watch & Jewellery Wholesaling

  • Products & Services
  • Diamond jewellery
  • Gold and silver jewellery
  • Watches and clocks
  • Silverware and other gift items
  • Platinum jewellery
  • Chart: Jewellery & Watch Stores Industry Products and Services Segmentation

  • Demand Determinants
  • Economic trends
  • Global supply

  • Major Markets
  • Highest quartile income earners
  • Second highest quartile income earners
  • Third highest quartile income earners
  • Lowest quartile income earners
  • Chart: Major Market Segmentation for the Jewellery & Watch Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRentDepreciationUtilities and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Jewellery & Watch Stores

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Jewellery & Watch Stores Industry

  • Industry Globalization
    The Watches of Switzerland Group Ltd, Signet Jewelers Limited, Pandora Jewellery UK Ltd,
  • Table: The Watches of Switzerland Group Ltd - financial performance
  • Table: Signet Jewelers Limited - financial performance
  • Table: Pandora Jewellery UK Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Jewellery & Watch Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Jewellery & Watch Stores Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    E-Commerce
  • Buying and selling of products or services over electronic systems such as the internet.
  • Luxury Items
  • Goods that are not a necessity. The consumption of such goods rises alongside growth in income levels.
  • Palladium
  • A rare and lustrous silver white metal with characteristics making it suitable for jewellery making.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Jewellery & Watch Stores market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Jewellery & Watch Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Jewellery & Watch Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Jewellery & Watch Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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