Jewelry Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/11/2024
SIC Codes: 5944
NAICS Codes: 45831
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Jewelry Stores Industry Profile

Companies in this industry sell jewelry, silverware, watches, and clocks through electronic home shopping and physical retail stores. Major US companies include Kay Jewelers, Tiffany and Co, and Zales Jewelers; other industry leaders include the retail operations of Chow Tai Fook Jewellery Group (Hong Kong) and Richemont and Swatch (both based in Switzerland).

The global jewelry market is expected to grow at a rate of about 6% from 2023 to 2028, according to the IMARC group. According to Statista, the global jewelry market is expected to reach over $330 billion by 2026, with major markets such China, the US, and India.

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 $30 billion.


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 45% 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 increasingly intense. The number of brides receiving a traditional diamond solitaire engagement ...

View Full Sample Add To Cart Return to the Industry Profile Menu

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options