Jewelry Industry Trends

Goals

To understand current trends in the jewelry (non-watch) industry worldwide.

Early Findings

  • AR (augmented reality) is predicted to be a hot new tool used by jewelers to bolster online sales. Similarly, 360-degree videos are also being used to help purchase decisions.
  • As per similar years, mobile shopping (and mobile payments) is key for all e-commerce verticals, including jewelry.
  • Wearable tech is breaking into the jewelry industry, as things like smart rings and bracelets become more beautiful and desirable.
  • Research and Markets reports online jewelry sales grew by 16%, for a 47% market share. Diamond and gold jewelry are the two largest segments in North America.
  • China leads the world in the largest jewelry revenue by country.
  • The global jewelry industry is worth $271 billion.
  • McKinsey predict that branded jewelry sales will continue to grow in the future.
  • The same report also predicts the middle market will continue to stagnant, as the market polarizes.
  • Another expert predicts lab-grown diamonds will appeal to the diminishing purchasing power of millennials.
  • 52% of the world's gold supply demand is attributed to jewelry.
  • The world's largest jewelry companies are Signet Jewelers, Richemont Group, LVMH Group, Tiffany & Co. and Pandora.

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