Market size of the jewelry market Australia 2010-2020
The jewelry industry in Australia was forecasted to remain relatively stable over the next few years, with a market size of four billion Australian dollars in 2020. Before then, the market had grown by more than ten percent between 2010 and 2015. The jewelry retailing market consists of both international and domestic brands and involves low cost fashion jewelry as well as luxury items.
Online shopping a growth driver
One of the main drivers of this industry can be linked to online shopping behavior. The e-commerce fashion industry, particularly the women’s fashion segment, has continued to experience growth across Australia. More and more Australians are joining the vast numbers of internet shoppers already in the country, opening up new channels for jewelry retailers.
Fashion vs luxury jewelry
The fashion jewelry retail market incorporates items made from inexpensive materials, non-precious metals, and stones. The demand for this type of jewelry is influenced by current consumer and seasonal trends. Lovisa Holdings Limited is one of the largest players in this industry in Australia and has seen a substantial growth in revenue over the past five years.
The luxury jewelry market is quite mature, with participation from many Australian brands. Over half of Australian respondents in a recent survey stated they bought luxury goods as they were perceived as better quality. Major companies in this segment include Tiffany & Co, Cartier and Pandora.
Online shopping a growth driver
One of the main drivers of this industry can be linked to online shopping behavior. The e-commerce fashion industry, particularly the women’s fashion segment, has continued to experience growth across Australia. More and more Australians are joining the vast numbers of internet shoppers already in the country, opening up new channels for jewelry retailers.
Fashion vs luxury jewelry
The fashion jewelry retail market incorporates items made from inexpensive materials, non-precious metals, and stones. The demand for this type of jewelry is influenced by current consumer and seasonal trends. Lovisa Holdings Limited is one of the largest players in this industry in Australia and has seen a substantial growth in revenue over the past five years.
The luxury jewelry market is quite mature, with participation from many Australian brands. Over half of Australian respondents in a recent survey stated they bought luxury goods as they were perceived as better quality. Major companies in this segment include Tiffany & Co, Cartier and Pandora.
