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Research Outline

Prepared for Greg R. | Delivered July 22, 2020

Crystal Gemstone Market Overview

Goals

To provide an overview of the crystal gemstone market in the UK and the US. The research should include insights that help to understand more about the customers that purchase luxury crystals for their homes, what the competition looks like for a luxury crystal gemstone brand, and help to run productive advertising campaigns for this brand. The insights should also help to gain an understanding of the differences between the UK and the US market, and should primarily be focused on the luxury-style crystals and not their lower-market alternatives.

Early Findings

According to market research estimates, the global demand for gemstones was expected to increase by 4.4% between 2018 and 2019.
The overall size of the global gemstone market was estimated to be around US$22 billion in 2018.
While the share of North America was estimated to be over one-third of the overall gemstone market across the world, Europe also accounted for a considerably high value share in the market.
In terms of specific areas of growth within the market, customized gems have witnessed notable growth in sales in the recent past along with a consistent growth in the rate of purchasing gemstones for luxury arts.
According to industry experts, the customers in the gemstone market have been found to be very knowledgeable and targeted at their purchase.
The customers often seem to have a preference about laboratories from which they want the certificates for their gemstone purchases to be issued.
It has also been found that customers in their 30s, 40s, or even late 20s often prefer to invest in colored gemstones online.
Some noteworthy players in the gemstones market in the UK include the likes of G.F. Williams, Cooksongold, Kernowcraft, The Curious Gem, Me Encanta, and Gemondo.
In the United States, some notable players in the gemstone market are Gemfix, The Rare Gemstone Company, Boston Gems, etc.
Pertaining to the competition within the global market, the market for colored gemstones such as ruby, sapphire, emerald, and others is expected to stay fragmented as the number of players is high for a wide range of products.

Suggested Industry

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Generalist

Prepared By

Agnidip M.

733 assignments | 5.0