Luxury Jewelry Market, By Raw Material (Gold, Platinum, Diamond, Precious Pearls, Gemstones, and Others), By Product Type (Necklaces, Ring, Earrings, Bracelets, and Others), By Distribution Channel (Online and Offline), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024

Code : CMI2278

Pages :120

Formats :

Excel and PDF

Industry : Consumer Goods

Market Concentration and Competitive Landscape

Luxury Jewelry Market Concentration By Players

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Increased Spending on Gifts and Self-Purchases

Luxury jewelry is commonly gifted during festive seasons, weddings and other ceremonies or events to express affection, congratulate, and wish well to friends and family. Diamonds in particular are associated with feelings of love and commitment. Growing economies have led to an expanding middle class with greater expenditure capabilities on buying gifts. Even in premium segments, jewelry receives preference for gifting purposes due to its ability to make a strong social statement and last forever as a keepsake. Other than gifting, people are allocating higher budgets towards self-purchases and indulgences to treat themselves. Jewelry satisfies the desire to own something precious and aesthetically appealing. Rising work pressures too have made stress-busting through luxury treats more acceptable. All these have stimulated luxury jewelry buying for both gifting as well as self-rewarding motivations. As global incomes and standard of living climb further, gifting and self-purchase spends on luxury jewelry segments are set for robust growth prospectively.

Key Players Insights