Revenue of the watches & jewelry market worldwide by country 2018
The watches & jewelry market is riding high on the robust demand in the overall luxury market. China led the watches & jewelry market with a revenue of 90.9 billion U.S. dollars in 2018, followed by the U.S., Japan, India and Russia. These large volumes are driving related advertising with leading brands such as PGI, Laofengxiang and Chow Tai Fook cumulatively spending as much as almost 800 million Yuan on brand promotion, back in 2012. Yellow gold is the most popular jewelry segment in the country, followed by karat gold and diamonds, jade jewelry and platinum jewelry.
Share of branded jewelry is rising across the globe
Though unbranded jewelry is expected to account for the major share of the overall jewelry market, branded jewelry is projected to slowly gather momentum with its share increasing from 10% in 2003 to 35% by 2020. This is mainly due to greater brand awareness, especially among millennials across the country. While the market for branded jewelry is currently driven by legacy companies such as Cartier and Tiffany and new entrants including Pandora and David Yurman, the future is expected to witness the foray of non-jewelry players such as Dior, Hermes and Louis Vuitton.
Share of branded jewelry is rising across the globe
Though unbranded jewelry is expected to account for the major share of the overall jewelry market, branded jewelry is projected to slowly gather momentum with its share increasing from 10% in 2003 to 35% by 2020. This is mainly due to greater brand awareness, especially among millennials across the country. While the market for branded jewelry is currently driven by legacy companies such as Cartier and Tiffany and new entrants including Pandora and David Yurman, the future is expected to witness the foray of non-jewelry players such as Dior, Hermes and Louis Vuitton.
