Good as gold: Rising expenditure by international tourists drives industry revenue

The Fine Jewellery and Watch Retailing industry consists of firms that sell fine jewellery and watches made of precious or semiprecious gemstones and metals. However, the industry does not include firms that retail fashion jewellery items, which are made of non-precious metals and stones. Industry revenue is expected to increase at an annualised 2.3% over the five years through 2018-19, to $3.1 billion. This includes an anticipated decline of 2.8% in the current year.An increase in the number of marriages over the past five years has increased demand for diamond engagement rings and wedding bands. However, largely negative consumer sentiment over the period has slightly constrained growth, as some consumers have been less willing to make big-ticket purchases. more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Industry players have benefited from increasing international tourist numbers
  • Industry establishment and employment numbers have declined due to lower profit margins
  • Australian consumers are anticipated to have access to a greater range of foreign jewellery
  • Industry Report - Starting a New Business Chapter

    The industry has moderate entry barriers and this has remained steady over the past five years. Prospective operators planning to open a new store in a shopping centre require money for fit-outs along with a further capital for stock along with working capital. Capital costs for prospective chain store operators are even higher due to more expensive fit-outs and stock holdings. Expertise in the industry is also a requirement for success. The industry's well-defined product market and the pre-existence of distribution networks among operators and suppliers may also deter the entry of new operators. This may be particularly important with regard to jewellery imported from overseas suppliers.The top four players account for about 40.0% o...purchase to read more.

    Additional Insights for the Fine Jewellery and Watch Retailing Industry

    IBISWorld has determined the most important Key Success Factors for the Fine Jewellery and Watch Retailing are:

  • Having a clear market position
  • Having a good technical knowledge of the product
  • Ability to control stock on hand
  • IBISWorld analysts also discuss how external factors such as Consumer sentiment index and Real household discretionary income in the Fine Jewellery and Watch Retailing industry impact industry performance..

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    What's in this report

    What is the Fine Jewellery and Watch Retailing Industry?

    Industry operators primarily retail fine jewellery and watches, which are made with precious metals or precious and semiprecious gemstones. Businesses that primarily retail fashion watches and jewellery not made with precious metals or gemstones are excluded from the industry. Additionally, online-only players are also excluded from the industry.

    Industry Products
  • Precious stones jewellery
  • Fine silver jewellery
  • Fine watches
  • Fine gold jewellery
  • Services and other products
  • Industry Activities
  • Luxury watch retailing
  • Fine jewellery retailing
  • Gold jewellery retailing
  • Silver jewellery retailing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer sentiment index
  • Real household discretionary income
  • World price of silver
  • Number of marriages

  • Current Performance
  • Profit margins
  • Luxury goods
  • Competition and innovation
  • Chart: Revenue Growth

  • Industry Outlook
  • International brands and profit
  • Personalised jewellery
  • Consumer trends and online shopping
  • Table: Fine Jewellery and Watch Retailing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Fine Jewellery and Watch Retailing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Diamond and Gemstone Mining
  • Jewellery and Watch Wholesaling
  • Jewellery Manufacturing
  • Measurement and Other Scientific Equipment Manufacturing

  • Products & Services
  • Precious stones jewellery
  • Fine silver jewellery
  • Services and other products
  • Fine watches
  • Fine gold jewellery
  • Chart: Fine Jewellery and Watch Retailing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest household income quintile
  • Fourth and third household income quintile
  • Second and lowest household income quintile
  • Chart: Major Market Segmentation for the Fine Jewellery and Watch Retailing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Fine Jewellery and Watch Retailing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Fine Jewellery and Watch Retailing Industry

  • Industry Globalization
    Prouds Jewellers Pty Limited, Michael Hill International Limited, AD Astra Holdings Pty Limited, Tiffany & Co (Australia) Pty Ltd,
  • Table: Prouds Jewellers Pty Limited - financial performance
  • Table: Michael Hill International Limited - financial performance
  • Table: AD Astra Holdings Pty Limited - financial performance
  • Table: Tiffany & Co (Australia) Pty Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Fine Jewellery and Watch Retailing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Fine Jewellery and Watch Retailing Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Retailers that sell products online.
  • Fashion Jewellery
  • Jewellery items made of non-precious metals or stones.
  • Fine Jewellery
  • Items made of precious or semiprecious metals or stones.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Fine Jewellery and Watch Retailing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Fine Jewellery and Watch Retailing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Fine Jewellery and Watch Retailing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Fine Jewellery and Watch Retailing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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