Jewelry And Watch Stores Market 2024: Global Report on Trends and Projections

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Jewelry And Watch Stores Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $218.4 billion In 2028 At A CAGR Of 5.3% :

The jewelry and watch stores market size has grown strongly in recent years. It will grow from $168.36 billion in 2023 to $177.86 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to economic prosperity, cultural significance, tourism and travel, celebratory occasions, branding and marketing initiatives.

The jewelry and watch stores market size is expected to see strong growth in the next few years. It will grow to $218.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to sustainability and ethical practices, customization and personalization, rise of millennial and Gen Z consumers, global events and market expansion, health and wellness trends. Major trends in the forecast period include digital transformation and e-commerce, personalization, digital marketing strategies, omnichannel retailing, rise of lab-grown diamonds.

Request A Sample Of This Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=9762&type=smp

Jewelry And Watch Stores Market Major Segments
The jewelry and watch store market covered in this report is segmented -

1) By Product: Necklace, Ring, Earrings, Bracelet, Other Products
2) By Category: Branded, Unbranded
3) By Material Type: Silver, Gold, Platinum, Diamond, Other Materials
4) By Price Range: Low Range, Mid-range, Luxury
5) By End-User: Women, Men, Unisex

Key Driver - Ethical And Diverse Choices In Jewelry And Watches Fueling Market Growth For Higher ROI

The rising growth in buying jewelry for a higher return on investment (ROI) is expected to propel the growth of the jewelry and watch store market going forward. Jewelry refers to any piece of ornament such as a necklace, bracelet, ring, or earring that people wear on the body. To receive a high return on investment, when purchasing jewelry and watches, consumers are increasingly selecting company stores that is ethical, appreciate diversity, and have a strong brand presence both online and offline, which will propel the demand for jewelry and watch store market. For instance, in March 2022, according to the Bureau of Economic Analysis (BEA), a US-based agency producing economic accounts statistics, buying jewelry for personal use accounted for $94.6 billion in 2021 as compared to $62.3 billion spent in 2020. Therefore, the rising growth in buying jewelry for a higher return on investment (ROI) is driving the growth of the jewelry and watch store market.

Customise This Report As Per Your Requirements -
https://www.thebusinessresearchcompany.com/Customise?id=9762&type=smp

Prominent Trend - Virtual Try-Ons And Personalization Reshape The Jewelry And Watch Store Landscape

Technological advancements are a key trend gaining popularity in the jewelry and watch store market. Major companies operating in the jewelry and watch store market are adopting new technologies to sustain their position in the market. For instance, in February 2022, Perfect Corp, a China-based beauty tech solutions provider launched a new AR try-on technology, allowing customers to virtually try on rings and bracelets online. This technology provides a """"hyper-realistic virtual try-on experience"""" for watches, rings, and bracelets where a variety of movements, textures, skin tones, hand and finger sizes, and 3D hand models are used to teach the hand tracking software. Also, the technology will provide fine jewelry businesses with a new medium to personalize and connect with customers along the online purchase journey.

Jewelry And Watch Stores Market Players
Major companies operating in the jewelry and watch stores market report are LVMH Group, Compagnie Financière Richemont S.A., Kering SA, Chow Tai Fook Jewellery Group Limited, Tiffany & Co, Rolex SA, The Swatch Group Ltd., Signet Jewelers Limited, Boucheron SAS, Malabar Gold & Diamonds, Pandora's Art Jewellery, Audemars Piguet Holding SA, Seiko Holdings Corporation, Swarovski AG, Patek Philippe SA, Casio America Inc., Bucherer AG, Fossil Group Inc., Mikimoto & Co Ltd., Breitling SA, TAG Heuer SA, Omega SA, Chopard Manufacture SA, Graff Diamonds Limited, Piaget SA, Harry Winston Inc., Cartier SA, SHR Jewelry Group, Buccellati, Bulgari Parfums S.p.A., Hublot SA, Jaeger-LeCoultre SA, Vacheron Constantin SA, IWC International Watch Co Ltd.

View The Full Report Here -
https://www.thebusinessresearchcompany.com/report/jewelry-and-watch-stores-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the jewelry and watch stores market in 2023. The regions covered in the jewelry and watch stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Jewelry And Watch Stores Market Report Structure
3. Jewelry And Watch Stores Market Trends And Strategies
4. Jewelry And Watch Stores Market - Macro Economic Scenario
5. Jewelry And Watch Stores Market Size And Growth
…..
27. Jewelry And Watch Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.