Watch and Jewellery Retailing in New Zealand - Industry Market Research Report

Watch and Jewellery Retailing in New Zealand - Industry Market Research Report

Watch and Jewellery Retailing in New Zealand

Fashion trends can be fickle, and appealing to the demands of the modern, trend-focused customer has become challenging. For this reason, the Watch and Jewellery Retailing industry encompass a range of products aimed at different consumer demographics – from low-value fashion jewellery to fine jewellery and watches made from precious or semiprecious stones and metals, like gold and silver. Industry heavyweights include Michael Hill International Limited and James Pascoe Limited, which operate nationwide branded retail chains. Yet industry concentration is low, as many independent fine jewellery and fashion jewellery stores also participate in the industry. Jewellers faced upheaval with the COVID-19 pandemic, having to terminate traditional business models and operate online while remaining viable against online-only and overseas retailers. Greater competition and poor trading conditions have contributed to an annualised 4.5% drop in revenue over the five years through 2022-23, to total an estimated $537.5 million.

Industry players retail fine and fashion jewellery, and watches. The industry includes bricks-and-mortar stores that have an online presence, but excludes online-only retailers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.