Jewelry And Watch Stores Market Growth Analysis And Forecast To 2033

The new report published by The Business Research Company, titled ""Jewelry And Watch Stores Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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.

Contents of the report:
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

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