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