Key Trends Reshaping the Jewelry And Watch Stores Market: Virtual Try-Ons And Personalization Reshape The Jewelry And Watch Store Landscape Industry Transformation

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What Is the Expected CAGR for the Jewelry And Watch Stores Market Through 2025?
The market size for jewelry and watch stores has seen significant growth in the past few years. The market, which was valued at $180.98 billion in 2024, is projected to reach $190.74 billion in 2025, marking a compound annual growth rate (CAGR) of 5.4%. Factors such as economic affluence, traditional importance, travel and tourism, special events, as well as branding and promotional strategies have contributed to the market growth in the past.

What's the Projected Size of the Global Jewelry And Watch Stores Market by 2029?
The market size for jewelry and watch stores is predicted to experience consistent expansion in the coming years, reaching $229.62 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 4.7%. The growth during the projected period can be credited to elements such as sustainability and ethical practices, customization and personalization, the emergence of millennial and Gen Z customers, global events and market growth, along with health and wellness trends. Key trend trajectories for the forecast period comprise digital transformation and e-commerce, customization, digital marketing approaches, omnichannel retail, and the upward trajectory of lab-grown diamonds.

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Top Growth Drivers in the Jewelry And Watch Stores Industry: What's Accelerating the Market?
The surge in the purchase of jewelry for a higher return on investment (ROI) is anticipated to fuel the expansion of the jewelry and watch store market. Jewelry, which ranges from necklaces and bracelets to rings and earrings, is becoming an attractive investment option. Consumers are showing preference for brands that promote ethics, diversity and have robust online and offline presence while shopping for jewelry and watches, thereby driving the demand in the jewelry and watch store market. As highlighted by the 2022 Silver Jewelry Sales Results from the Silver Institute headquarters, a US-based nonprofit international association, in March 2023, 52% of jewelry sellers experienced a rise in silver jewelry sales in 2022 compared to 2021. Among these retailers, 52% reported an increase of 11-25%, 7% saw an increase exceeding 25%, and the average sales increase was 14%. Moreover, 30% of them stated silver achieved the highest inventory turnover rate against percentages recorded by diamonds (13%), bridal (16%), and gold (36%). Hence, the burgeoning trend of investing in jewelry for higher ROI is propelling the growth of the jewelry and watch store market.

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What Trends Will Shape the Jewelry And Watch Stores Market Through 2029 and Beyond?
Emerging technologies are becoming a significant trend in the jewelry and watch store industry. Main players in the market are leveraging innovative technologies to maintain their market stance. For example, Perfect Corp, a Chinese beauty tech solutions firm, introduced a new AR try-on technology in February 2022. This technology facilitates customers to virtually try on rings and bracelets online. It offers a "hyper-realistic virtual try-on experience" for watches, rings, and bracelets, using a range of movements, textures, skin tones, varied hand and finger sizes, and 3D hand models to train the hand tracking software. Additionally, the technology provides high-end jewelry businesses with a fresh platform to connect and personalise for customers during the online buying process.

What Are the Main Segments in the Jewelry And Watch Stores Market?
The jewelry and watch stores 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

Subsegments:
1) By Necklace: Chains, Pendants, Statement Necklaces, Chokers
2) By Ring: Engagement Rings, Wedding Bands, Fashion Rings, Signet Rings
3) By Earrings: Stud Earrings, Hoop Earrings, Drop And Dangle Earrings, Ear Cuffs
4) By Bracelet: Bangles, Cuff Bracelets, Charm Bracelets, Chain Bracelets
5) By Other Products: Watches, Brooches And Pins, Anklets, Hair Accessories

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Which Top Companies are Driving Growth in the Jewelry And Watch Stores Market?
Major companies operating in the jewelry and watch stores market include 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.

Which Regions Will Dominate the Jewelry And Watch Stores Market Through 2029?
Asia-Pacific was the largest region in the jewelry and watch stores market in 2024. 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.

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