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Clothing

Accessories

Fashion

The jewellery market - United Kingdom

An analysis with all the essential information for a clear, complete and quantified view of this market.

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Study Overview

The jewelry sector identifies the set of production processes that lead to the creation of accessories and precious ornaments. In fact, in ancient times, the jewel had a symbolic value, often religious or spiritual, and was represented mostly by amulets or good luck charms. A meaning that, over time, has changed radically, but that continues to identify the jewel as a symbol of beauty and status, meanings not too far from its original value. The jewelry industry is mainly driven by certain product categories:

Bracelets Necklaces Rings Earrings Pendants

The years preceding 2020 have demonstrated strong growth in the UK jewelry market; necklaces grew the most between 2014 and 2018 (10%), whilst watches grew at the slowest rate (2%). A strong value driver has been the increased spending by women. Large retailers include for example Pandora, HSamuel, Accessorize, Watchshop. The UK jewelry market is highly fragmented with around 100 retailers. [salience] Demand for jewelry is positively correlated to economic growth and inflation. Factors such as an increasing proportion of HNWIs and a soaring urban population also contributes to positive growth. Moreover, since foreign consumers make up a large fraction of the revenue of jewelers in the UK, the value of the pound matters; the recent growth in the industry has been party driven by a weak pound in times of uncertainty around Brexit.