Press release
Riding the Growth Wave: Jewelry And Watch Stores Market Forecast
Jewelry And Watch Stores Market Size
What Is The Projected Market Size And Growth Rate Of The Global Jewelry And Watch Stores Market?
The global jewelry and watch stores market has witnessed a strong growth over the past few years.
• Market Size in 2024: $180.98 billion.
• Market Size in 2025: $190.74 billion at a CAGR of 5.4%.
• Projected Market Size in 2029: $229.62 billion at a CAGR of 4.7%.
What Is Driving The Growth In The Jewelry And Watch Stores Market?
The increase in purchases of jewelry for higher returns on investment propels the jewelry and watch store market forward. Consumers demand functionality along with a strong brand presence in both offline and online platforms while choosing their jewelry and watches. The 2022 Silver Jewelry Sales Results report by the Silver Institute highlighted that 52% of jewelry retailers reported an increase in silver jewelry sales in 2022 in comparison to 2021. Hence, the potential higher return on investment is accelerating the jewelry and watch store market growth.
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Who Are the Key Players Driving Jewelry And Watch Stores Market Growth?
Major companies include:
• LVMH Group
• Compagnie Financière Richemont S.A.
• Kering SA
• Chow Tai Fook Jewellery Group Limited
• Tiffany & Co
• Rolex SA
• The Swatch Group Ltd.
What Are The Key Trends In The Jewelry And Watch Stores Market?
Some of the major trends observed in the market include:
• Digital transformation and e-commerce
• Personalization
• Digital marketing strategies
• Omnichannel retailing
• The rise of lab-grown diamonds
What Are The Segments Of The Global Jewelry And Watch Stores Market?
The market is segmented into:
• Product: Necklace, Ring, Earrings, Bracelet, Other Products.
• Category: Branded, Unbranded.
• Material Type: Silver, Gold, Platinum, Diamond, Other Materials.
• Price Range: Low Range, Mid-range, Luxury.
• End-User: Women, Men, Unisex.
Which Region Leads The Jewelry And Watch Stores Market?
Asia-Pacific dominated the jewelry and watch stores market in 2024 and continues to lead. The regional markets included in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Jewelry And Watch Stores Market Global Market Report?
- Market Size Analysis: Analyze the Jewelry And Watch Stores Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Jewelry And Watch Stores Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Jewelry And Watch Stores Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Jewelry And Watch Stores Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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