Stay ahead of the curve and future-proof your business with Mintel’s Germany Jewellery and Watches Market Report 2023. Our full report is packed with consumer-led market intelligence, jewellery trends in Germany, and consumer behaviours affecting your industry. Get a 360° view of the watches & jewellery market in Germany including market size, watches Germany market share, and a growth forecast to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- A detailed Germany jewellery market outlook, including market drivers and expert insights.
- The short-, medium- and long-term impact of inflation on the watches & jewellery market in Germany.
- Purchase of jewellery and watches in store and online (for one self or as a gift), and types of jewellery bought.
- Purchase behaviour, e.g. retailers in the jewellery market Germany consumers shop at, or interest in sustainable options and personalised items.
- Recent innovations in the German watch market.
- How your business can tap into opportunities to increase your watches Germany market share.
An Overview of the Germany Jewellery Market
The watches & jewellery market in Germany proves resilient despite ongoing inflation. 58% of German consumers have bought watches, fine, or costume jewellery in the past five years.
While branded items have seen heightened interest, individual mid-market retailers in the Germany jewellery market will feel the growing competition and will need to stand out by offering unique services.
The Watches & Jewellery Market in Germany: What Consumers Want and Why
- Consumer Behaviour in the Jewellery Market Germany: At 75% Gen Z shoppers show a stronger preference for shopping in physical stores rather than online compared to older generations. To boost younger Germans’ engagement in online shopping, retailers can offer AR try-ons.
- Jewellery Trends in Germany: As in many other sectors, sustainability becomes a standard in the watches & jewellery market in Germany. 60% of German consumers expect brands to take the lead in addressing environmental issues; this is especially important for younger consumers, who would pay more for sustainably made jewellery and watches, for example second hand products, recycled materials, and lab-grown stones. These will provide sustainable as well as cost-conscious alternatives in a traditional market.
German Watch Market Forecast
- The German watch market outlook is positive, with branded and luxury items driving growth. German consumers will continue to be confident, and the trend to buy jewellery for oneself to celebrate milestones and (online) brand experiences will become corner stones in this sector.
To learn how to connect with your audience, purchase our Germany Jewellery Market Report 2023 in full. Reveal lucrative innovation opportunities to help your business grow during times of financial uncertainty.
Products and Brands Discussed in this Report
Brands: Swatch, Rolex, Chopard, SISS-BLISS, Pandora, C&A, Zara, Bijou Brigitte, Claire’s, Amazon, About You, IWC Schaffhausen, Thomas Sabo, Scéona, De Beers, Christ, Wempe, Another’s Legacy, Zales, Tiffany, Otto, Omega, Blancpain, TAG Heuer, Hublot, Nespresso, Cartier, Swarovski, Eppli, and many more.
Products: Jewellery: necklaces, earrings, rings, bracelets, bracelet charms, anklet, body jewellery (precious metal, costume and fashion, lab-grown diamonds/stones), watches, smartwatches, and more.
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Expert Insights on the Germany Jewellery Market
This report, written by Silke Lambers, Senior Research Analyst, delivers in-depth commentary and analysis to highlight jewellery trends in Germany and add expert context to the numbers.
The German watches & jewellery market’s resilience, fuelled by a growing demand for luxury and branded experiences, is further driven by innovations like lab-grown diamonds and recycled metals.
Silke Lambers
Senior Research Analyst – Fashion, Germany
Collapse All
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- Key issues covered in this Report
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Executive summary
- Market context
- Mintel predicts
- Opportunities
- Graph 1: select perceptions of ‘luxury’ among consumers, by generation, 2023
- Graph 2: in-store vs online purchase of jewellery and watches in the past five years, 2023
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market drivers
- The German economy
- Graph 3: key economic data, in real terms, 2019-25
- Graph 4: financial confidence index, 2022-23
- Graph 5: price index, retail sales of watches and jewellery, 2013-22
- Graph 6: turnover in the jewellery and watches sector, incl VAT, 2019-28
- Sustainability
- Graph 7: consumers who have bought jewellery and watches made from sustainable materials in the past five years by generation, 2023
- Changes in the luxury sector
- Graph 8: select perceptions of ‘luxury’ among consumers, by generation, 2023
- Graph 9: purchase of jewellery within the past 18 months among buyers of branded luxury items, by age, 2023
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MARKET ACTIVITY
- Sector size and forecast
- Graph 10: turnover in the jewellery and watches sector including VAT, 2014-23
- Graph 11: market segmentation for jewellery and watches, 2014 and 2023
- Consumer spending
- Graph 12: spending on jewellery and watches by monthly net household income, 2021
- Graph 13: spending on jewellery and watches by household size, 2021
- Online retail
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What consumers want and why
- Behaviour towards purchasing jewellery and watches
- Graph 14: purchase of watches and jewellery in the past five years, by generation, 2023
- Graph 15: jewellery purchases for self or others in the past five years, 2023
- Graph 16: purchase of watches for self or others in the past five years, by gender and age, 2023
- Types of jewellery bought
- Graph 17: types of jewellery purchased in the past five years, by gender, 2023
- Graph 18: types of jewellery purchased for self or others in the past five years, 2023
- Types of retailers used
- Graph 19: retailers used to buy costume jewellery in the past five years, 2023
- Graph 20: retailers used to buy jewellery and watches within the past five years, 2023
- Graph 21: instore vs online purchase of fine jewellery in the past five years, by generation, 2023
- Graph 22: repertoire of number of stores used to purchase watches, by generation, 2023
- Graph 23: repertoire of number of stores used to purchase jewellery, by generation, 2023
- Shopping channels
- Graph 24: in-store vs online purchase of jewellery and watches in the past five years, 2023
- Behaviours towards jewellery and watches
- Graph 25: consumers who have used a repair service for jewellery/watches in the past five years, by gender, 2023
- Graph 26: types of jewellery/watches bought in the past five years, by all buyers vs personalised jewellery/watch buyers, 2023
- Graph 27: purchase of jewellery/watches that use lab-grown jewels in the past five years, by generation, 2023
- Attitudes towards jewellery and watches purchasing
- Graph 28: attitudes towards purchasing jewellery and watches, 2023
- Graph 29: consumers who like to receive precious metal jewellery as a gift, by gender and age, 2023
- Graph 30: agreement that traditional watches are a bigger status symbol than smartwatches, by gender and age, 2023
- Graph 31: consumers who research the brand/model online before buying jewellery/watches, by generation, 2023
- Graph 32: consumers who have bought jewellery/watches made from sustainable materials or would pay more for ethically made jewellery/watches, by generation, 2023
- Interest in jewellery/watch retailer offerings
- Graph 33: interest in information on the materials used to make jewellery/watches, by monthly household net income, 2023
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RETAILER ACTIVITY
- Leading retailers
- Retail innovation
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Appendix
- Appendix – CHAID analysis methodology
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