Jewelry Industry Statistics
In the United States, the jewelry industry for retail was estimated to have grown 10.7% from the previous year with a 6% sales increase. The total value of the industry is $71.3 billion in the United States. The following segments of the jewelry industry saw rates of growth with statistics for the online marketplace to ponder.
Jewelry Industry Market
1. Specialty jewelers generate more than 43% of the industry’s total United State sales.
2. The jewelry market is primarily based on how the economy grows or falls. During the Great Recession, the industry saw a 11% drop.
3. The top three markets for luxury jewelry are Europe, China, and the United States.
4. The total number of jewelry businesses have been on a slow single percent decline each year.
5. Specialty jewelers are losing market share to retailers, wholesales, and manufacturers.
6. Americans spent about 68.43 U.S. dollars on watches per consumer unit.
Behind the Scenes Jewelry Making
The below video takes you behind the scenes of Scott Kay Inc, interviewing what goes into his inspiration and detail of his creations.
Top 5 Retailers of Jewelry Sales
The following list of retailers were in the top 5 spots for seeing the most retail sales for jewelry and watches.
1. Wal-Mart – $2.9 billion
2. Sterling Jewelers Inc. – $2.536 billion
3. Zale Corp. – $2.138 billion
4. Tiffany & Co. – $1.547 billion
5. QVC – $1.390 billion
Revenue by Jewelry Industry Segment
1. Fine jewelry saw a 6% increase and total sales of $61.9 billion.
2. Fine watch sales saw a 5.8% increase and total sales of $9.4 billion.
3. Wholesale jewelry suppliers increased 2.4%.
4. Diamond saw a revenue of $27 billion with 40% of the global demand being consumed by the United States.
Jewelry Consumers Demographic
The following infographic takes a look at the typical characteristics and anatomy of a jewelry buyer. Common traits that look for when buying jewelry is product quality, store reputation, and a salesperon’s honesty.