Watches and Jewelry - US - March 2019
Covered in this report
For the purposes of this report, jewelry includes costume jewelry (made with inexpensive materials or imitation gems) and fine jewelry (made out of precious metals, such as gold or platinum, which may also contain precious gemstones). Items include earrings, bracelets, necklaces, and rings as well as watches for both women and men. Smartwatches are referenced and included in this report but were covered in greater detail in Mintel’s Wearable Technology – US, December 2018. Smartwatches are defined as mobile devices with a touchscreen display, designed to be worn on the wrist.
"The watches and jewelry category is growing, but minimally. Changes in traditional lifestyles and gifting occasions could threaten future purchase occasions. Competition is also growing, with new retailers emerging online and retailers outside the channel often being favored for their convenience and value. Retailers need to persuade consumers to shop for more occasions and recipients. Making use of digital capabilities to connect with more consumers, by offering better product discovery tools and more flexible options, should help stimulate more purchasing."
- Alexis DeSalva, Retail & Apparel Analyst
This Report looks at the following areas:
- Issue: Nearly half of consumers aren’t shopping the category
- Opportunity: Encouraging self-splurges and “just because” gifting
- Issue: Jewelry stores are losing sales to competitors outside the channel
- Opportunity: Using digital capabilities to attract and convert browsers to buyers
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