UK Sector Series: Jewellery & Watches, 2023-2028

UK Sector Series: Jewellery & Watches, 2023-2028

Summary

The UK Jewellery & Watches report offers a comprehensive insight into the Jewellery & Watches market in the UK, analysing the sector, the major players, the main trends, and consumer attitudes, as well as providing market forecasts out to 2028.

The UK jewellery & watches market experienced a sales decline in 2023 as consumers reigned in spending on non-essentials. Many retailers in this sector have not been immune to this weaker market landscape and have observed a similar downturn in sales. High street specialists targeting budget-conscious consumers felt this slump the most. Specialists operating in luxury jewellery & watches have fared better, less impeded by the cost-of-living crisis and inflationary pressures.

Key Highlights

• We forecast the jewellery & watches market will achieve a CAGR of 2% between 2023 and 2028.
• Watches and rings will provide the largest boost to the value of the jewellery & watches market between 2023 and 2028.
• UK consumers rank quality as the highest driver when purchasing jewellery & watches, with over 90% of shoppers considering it an important factor.

• Using our five year forecasts to 2028, learn which categories in the Jewellery & Watches market will be the fastest performing to enable focus and investment in these winning product areas.
• Understand how drivers of Jewellery & Watches purchases, such as range, price and quality, vary in importance among different demographics to maximise sales potential.
• Use our in-depth analysis and forecasts to understand the current and future performances of the different channels, including online and offline.