View Report Details The US Jewelry Market Report ----------------------------------------2015
View Report Details Executive Summary Inspired by the rich and artistic past of precious stones, objects, jewelry pieces and embellished with the practical information regarding the color, carat-age, other aspects of the precious metals and jewelry, growing economy and the rising personal income, the global jewelry market has witnessed an impressive growth thus expanding the boundaries of its existing realm. The gems and jewelry industry is personified by stifling competition. The sector sways between inexpensive jewelry pieces for daily wear, to special items like engagement rings and watches meant for celebrating special events, to investment pieces priced and sold similar to antique pieces and fine art. Considering the several elements utilized in jewelry industry, gold has always dominated the industry on account of its vivid physical and chemical properties like luster and ease of fabrication. Being traded on the commodity exchanges, gold price movements are also reflected in the gold jewelry consumption. Apart from yellow gold, other chief metals employed in the jewelry manufacturing industry include platinum, silver, titanium, palladium and tungsten carbide among others. The major factors influencing the demand for jewelry are personal income and the global prices of major commodities such as gold and silver. Other factors driving the growth of the industry are growing number of working women and economic growth since 2009. The very facts have starkly made the jewelry industry exposed to the ripples of economic and financial conditions prevalent world over, specifically in key retailing markets and sourcing destinations. This report provides a comprehensive analysis of the US jewelry market with a special focus on online jewelry sales. A strong correlation between the macroeconomic factors and the online US jewelry industry has been observed. Although the industry declined during the financial crisis of 2009, it recovered at a fast pace afterwards. Furthermore, the market dynamics including the industry trends and development, underlying growth drivers and key issues are also discussed in depth. The jewelry market of the US is fiercely competitive with major players contending on the basis of different parameters. By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Jewelry may be made from a wide range of materials. Gemstones and similar materials such as amber and coral, precious metals, beads, and shells have been widely used, and enamel has often been important. Global Jewelry Market by Branding (2003-2020E) 100
future growth in branded jewelry is likely to come from nonjewelry players in adjacent categories such as high-end apparel or leather goods—companies like Dior, Hermès, and Louis Vuitton—introducing jewelry collections or expanding their assortment.
90 80 70
%
60
The global jewelry market is estimated to be valued at US$... billion in 2014 compared to US$... billion in 2013. The market grew at a 5 year CAGR of …% since 2009 while the CAGR for 14 years since 2000 has been …%.
50 40 30
jewelry’s share of GDP has remained largely stable at ….% since 2003, as emerging market growth countered slower trends in developed markets.
20 10 0 2003
2005
2007 2009 Unbranded
2011 2013 Branded
2015E
2020E
Global Jewelry Market Value (2000-2014E)
Jewelry Market as Share of Global GDP (2000-2013)
300
0.40
250 200
n ilo B S$ U
100
%
150
0.35
0.30
50 0
0.25
The global jewelry market has gold and diamonds as the largest sub-segments. The core products that form jewelry industry are gold, diamond, silver, platinum and few others. Global Jewelry Market Share (2014E) Gold jewelry represents the largest segment at …% of the jewelry market. Silver jewelry is estimated at ..% of the market) while platinum jewelry market is surprisingly small at …% of the market. Other jewelry, which includes pearls etc., represents the remaining market share.
Gold
The U.S. is the second largest jewelry market valued at US$... billion in 2013 and has been overtaken by the PRC for the top position in 2012. The US jewelry market is estimated to be valued at US$.... billion for 2014, growing at a 5 year CAGR of …% since 2009. Others 6%
Specialty jewelers’ sales were US$.… billion in 2014, increased by …% in comparison to 2013 sales of US$... billion. The market registered highest growth in 2011 after the financial crisis of 2009 with annual growth of ..…%.
4%
The U.S. Fine Jewelry Market Value (2005-2014E)
The U.S. Specialty Jewelers’ Sales (2008-2014)
80 70
15.0
25.0
10.0
15.0
60
5.0 0.0
n ilo S$B U
40
-5.0
30
-15.0
20
-25.0
10
-35.0
0 2005
2006
2007
2008
2009
2010
2011
2012
2013 2014E
2008
2009
2010
2011
2012
2013
%
5.0
50
n ilo B $ S U
35.0
2014 -5.0 -10.0
Speciality Jeweler Sales
YoY Growth
-15.0
U.S. online jewelry sales have increased rapidly in recent years, but thin profit margins and consumers’ reluctance to buy jewelry online have prevented the Internet from becoming a major sales channel. The U.S. Fine Jewelry and Watch Online Sales by Value (2007-2014E) 6.0 5.0
Online channel will remain a small fraction of total jewelry sales during this decade. It is expected to constitute no more than ….% of fine jewelry sales by 2020..
4.0
n ilo S$B U
3.0
In the U.S. market, there were approximately … million online shoppers in 2013 while the numbers are estimated to have reached .... million for 2014.
2.0 1.0 0.0 2007
2008
2009
2010
2011
2012
2013
2014E
The U.S. Fine Jewelry and Watch Sales Online Share (2007-2014E)
The U.S. Online Shoppers (2009-2014E)
205
7.0%
200
6.5%
195 190
6.0%
185
5.5%
s lo M #in
180
5.0%
175 170
4.5%
165
4.0%
160
3.5%
155 150
3.0%
2009
2007
2008
2009
2010
2011
2012
2013
2014E
2010
2011
2012
2013
2014E
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