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Jewelry Industry in USA

Interesting Facts about Jewelry Industry

The jewelry Industry in the USA for retailers reports a 10.7 % grown in 2013. The sales also increased by 6% compare with 2012. The value of the jewelry industry was $71.3 billion in the USA in 2013.
43% of the industry value is generated for Specialty jewelers in the USA.
Growths or falls in the economy directly affect the jewelry industry. For example, the industry jeweler’s sales went down 11% in the great recession.
Europe, United States and China are the top jewelry luxury markets.
Since 2014, the increase expected in the industry is 5% to 6% each year.
Brand jewelry is only 20% of the whole jewelry market. But Brand jewelry will have a higher increase by 2020.
Brand jewelry is the favorite of all“new money “for people This segment of people is interested in showing off their money and success by wearing brands. On the other hand, “old money” people are more likely to buy state jewelry.

 

Jewelry Infographic

 

Brands given to “new money” people is a feeling of lifestyle for them. Furthermore, they are willing to pay more for brand jewelry.
Jewelry companies should find the way to optimize their brands and get a fair market share. Moreover, Jewelers can create unique designs, collections and more to establish a name or brand.
In 2015 the sales of the industry increased 2% reaching $ 63.3 Billions stated by: The US Jewelry report from Euromonitor International.
The USA jewelry industry is fragmented because it is only one company that represents more than 7%. This fact gives room to grow for manufactures. It also offers opportunities for new players in the market.

 

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