First Research US Industry Profile

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Jewelry Stores
SIC Codes: 5944
NAICS Codes: 44831
Last Quarterly Update: 9/9/2019
Companies in this industry sell jewelry, silverware, watches, and clocks from physical retail establishments. Major US companies include Sterling Jewelers and Zale (both units of Bermuda-based Signet Jewelers), as well as Tiffany; other industry leaders include the retail operations of Chow Tai Fook Jewellery Group (China), Richemont (Switzerland), and Swatch (Switzerland).
Estimated at $310 billion in 2015, the global jewelry market is expected to grow at a rate of 5% per year through 2020, according to Euromonitor data cited by Bloomberg Intelligence. Major markets include North America, China, and Japan. Emerging markets, such as India and the Middle East, are key growth opportunities for the industry.
The US jewelry retail industry includes about 22,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $35 billion.
Competitive Landscape
Demand is driven largely by consumers' disposable income. Profitability depends on merchandising and marketing. Large companies enjoy economies of scale in purchasing. Small jewelers can compete with large chains by establishing favorable reputations. The US industry is fragmented: the 50 largest companies generate about 40% of revenue.
Jewelry stores face competition from department stores, mass merchants and warehouse clubs, home shopping TV channels, online retailers, and auction sites. Mass merchants have been able to cut prices and take market share.
Also, as marriage rates decline around the world, competition for engagement jewelry sales has become increasingly intense. While the number of brides receiving a traditional diamond solitaire engagement ring once was about 75%, now far fewer US brides-to-be receive such rings. The custom is picking up in China however, where 30% of brides now receive diamond engagement rings, up from virtually none in the 1990s.
Products, Operations & Technology
Diamond jewelry accounts for the largest share of total jewelry store sales, at about 42%. Watches, watchbands, and parts account for about 15%, gold jewelry ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

Historical Profiles (PDF format)

03/18/2019
12/10/2018
09/10/2018
06/04/2018
03/05/2018
11/27/2017
08/28/2017
05/29/2017
02/27/2017
11/21/2016
08/22/2016
05/23/2016
02/08/2016
11/02/2015
08/03/2015
05/04/2015
01/26/2015
10/27/2014
07/28/2014
05/05/2014
02/10/2014
11/04/2013
08/12/2013
05/20/2013
02/25/2013
11/19/2012
08/27/2012
06/11/2012
03/19/2012
11/28/2011
08/29/2011
05/16/2011
02/14/2011
11/01/2010
08/09/2010
05/03/2010
02/01/2010