The Jewelry & Watches segment in Australia registered Market value of USD 2,933.38 Millions in 2024
The indicator recorded a historical growth (CAGR) of 0.16% between 2021 to 2024, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The Market value of Jewelry & Watches Segment in Australia (2018 - 2026, USD Millions)
Jewelry & Watches Segment in Australia
The Jewelry, Watches and Accessories market includes gold jewelry, silver jewelry, and other precious jewelry like diamonds, platinum, precious stones (sapphires, emeralds, and rubies), pearls (natural and cultured), and semiprecious stones (e.g. quartz, opal, topaz, amethyst, coral, etc.), fashion jewelry (non-precious jewelry), hair accessories, belts, hats, gloves, scarves, sunglasses, and ties, plus watches.
The Australian jewelry & watches market has experienced weak to moderate growth rates in the historic period. The market is expected to slow in the forecast period, with weak growth expected overall. The Australian market is mature, which is evident in the moderate to weak levels of growth. Improving household consumption levels and falling unemployment have assisted in the growth of the market, as Australian buyers have an increased financial capability regarding the purchase of jewelry & watches. Although the demand for fast fashion products is rising, increasing awareness about waste reduction is encouraging Australian shoppers to prefer ethical, environmentally friendly, and socially responsible products. This trend has inhibited strong growth to some degree as customers are investing in products that will stand the test of time, rather than making frequent low-value purchases.
Category segmentation
The jewelry & watches segment is categorized into two major segments - Jewelry & Watches and Accessories. Jewelry & watches is the largest segment of the jewelry & watches market in Australia.
Competitive landscape
The Australian jewelry and watches market is highly fragmented, with players ranging from small specialty jewelers to large multinational retailers, meaning that competition is fierce. The Australian market is dominated by specialty jewelry and watch retailers such as James Pascoe and Michael Hill; however, global player Pandora also has a strong presence. Michael Hill has struggled in recent years, with a weak inventory turnover and declining revenues, it is introducing new products to the market in a bid to remain competitive.
Market distribution
Clothing, Footwear and Accessories Specialists form the leading distribution channel in the Australian jewelry & watches market.
Who are the leading players?
Michael Hill International Ltd
James Pascoe Ltd
United States of America
United States of America
China
Germany
United States of America
United States of America
Germany
United States of America
United States of America
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