Global Jewelry-Retail Market Overview:
A jewelry shop is a type of retail business that focuses on buying and selling jewelry and watches. Jewelry stores offer a wide range of services, including designing, manufacturing, remodeling, and repairs. The strong demand rebound observed following the second wave's negative impact in the first quarter of the fiscal year is expected to have contributed to the jewelry retail sector. The conclusion of the fiscal year saw some deferral of wedding and other occasion purchases despite a substantial rise in gold prices. Pent-up demand in the second quarter and intense holiday and wedding demand driving record sales in the third quarter propelled consumption in FY2022. Furthermore, despite the third wave's minimal effects on store operations, demand for gold jewelry was also better than anticipated in the fourth quarter.
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Rising Global Demand for Gold Jewellery, Growing Number of Digital Buyers and Jewelry Brands are witnessing a Spin with the Arrival of NFTs
Market Growth Drivers:
Increasingly Adoption of E-Commerce for Online Shopping of Jewellery, An Increasing Female Population and An Increasing Middle-Class Population and Growing Tourism
Declining Rough-Diamond Mine Supplies and E-Commerce Fraud and Delayed Marriages
Declining Footfall and Consumer Uncertainty and Rising Competition from Niche Independent Brands may Hinder Mid-Market Jewellery Retailers
Technological advancement and integration with Jewellery Retailer
Global Jewellery Retail is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are LVMH (France), Rajesh Exports (India), Chanel (United Kingdom), Chow Tai Fook (China), Cartier (France), Signet (United States), Tiffany & Co (United States), Pandora Jewelry (Denmark), Harry Winston (United States) and Chopard (Switzerland). Additionally, following companies can also be profiled that are part of our coverage like Graff (United Kingdom), Mouawad (Dubai), Mikimoto (Japan) and Asprey London (United Kingdom). Considering Market by Services, the sub-segment i.e. Repairs will boost the Jewelry-Retail market. Considering Market by Jewelry Type, the sub-segment i.e. Brooches will boost the Jewelry-Retail market.
Latest Market Insights:
In January 2021, LVMH acquired Tiffany & Co., the global luxury jeweler. The acquisition of this iconic US jeweler will deeply transform LVMH’s Watches & Jewellery division and complement LVMH’s 75 distinguished Maisons.
In June 2021, LVMH, the world's biggest luxury giant spent USD 835 million refurbishings a department store in Paris.
What Can be Explored with the Jewelry-Retail Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Jewelry-Retail Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Jewelry-Retail
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Jewelry-Retail market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Jewelry-Retail market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Jewelry Retailers, Potential Investors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.