17 Jewelry Industry Statistics To Know

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Hey, bling enthusiasts! Ready to dive into the glittering world of jewelry stats? We've got the lowdown on everything—from the metal preferences of the trendsetting 25 to 40-year-olds to the sparkling rise of online sales.

Whether you're a diamond devotee or a silver aficionado, these 17 Jewelry Industry Statistics are about to add some serious sparkle to your knowledge. So, buckle up those gem-studded belts, and let's take a casual stroll through the dazzling stats that define the jewelry game this year!

General Jewelry Industry Statistics

Dive into the dazzling universe of the jewelry industry, where we unravel the bedazzling numbers shaping the landscape.

From the sheer number of jewelry stores across the U.S. to the economic dance of market sizes, these general statistics give you a front-row seat to the bling business.

Bling on the Block: The Landscape of U.S. Jewelry Stores

Ready for a jaw-dropper? There's a whopping 45,792 jewelry stores scattered across the U.S. landscape in 2023. California's leading the charge with 6,594 gems, trailed by New York with 5,522, and Florida flashing 4,748 sparklers.

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Glittering Trends: Changes in the Jewelry Business

Hold onto your pearls—these numbers are on a rollercoaster. The total count of jewelry stores in the U.S. took a 3.3% dip from 2018 to 2023. And guess what? From 2022 to 2023 alone, we're talking a 2.1% slide. The bling business is no walk in the park.

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Dollars and Carats: The Market Size of U.S. Jewelry Stores

Let's talk cash. The market size of U.S. jewelry stores is a staggering $33.9 billion. It tiptoed up by a mere 0.1% in 2021, keeping pace with a total annualized growth of 0.1% from 2016 to 2021. Not exactly breaking records, but slow and steady wins the race, right?

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Workforce Behind the Glam: Employment in the Jewelry Industry

Behind the sparkle, there's a workforce of 161,206 hustlers. Crafting bling? We've got 24,378 artisans. Holding down the fort in stores? That's 136,828 folks.

But here's the twist—both these crews saw their ranks thinning at a rate of 5% annually from 2018 to 2023. Tough times in the world of shine.

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Global Bling Royalty: LVMH Takes Center Stage

Cue the spotlight on LVMH, the heavyweight champ of the jewelry retail world. Louis Vuitton and Moët and Hennessy—ever heard of them? They're the big bosses in the luxury game, raking in 24% of their $52.9 billion in the U.S. They're Paris-based, but their bling knows no borders.

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U.S. Bling Royalty: Signet Jewelers Limited and Tiffany and Co.

In the U.S. corner, we've got Signet Jewelers Limited, reigning supreme with brands like Jared, Zales, and Kay Jewelers. They rolled in the green with $6.25 billion in 2019 and over 3,000 stores worldwide. But don't count out Tiffany and Co., earning $4.4 billion with a modest 321 stores.

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Power Players, Small Slice: Global Jewelry Market Share

Surprisingly, the big shots—yeah, the ten largest jewelry groups—only snag about 12% of the global jewelry market. Turns out, most of us are still throwing down cash at local joints instead of the mega-retailers.

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Unbranded Bling: The Majority Rules, For Now

Hold onto your unbranded jewels—only 20% of the glittery market is showing off a brand. But here's the plot twist: that's set to change, and change fast. Brace yourselves for a branded bling revolution.

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Jewelry Industry Statistics by Consumers

Curious about the personal preferences guiding jewelry choices? Explore the intricate tapestry of consumer tastes, from the metals adorning necks and fingers to the evolving patterns in spending habits.

These statistics offer a peek into the intimate relationship between consumers and their cherished adornments.

Metal Matters: Women's Preferences Unveiled

Let's talk ladies and their love for metals. In a recent survey, a whopping 35% of women spilled the beans—they're swooning over white gold.

Silver snagged the second spot with 17%, platinum glimmered at 15%, while rose gold blushed in at 13%. Surprisingly, yellow gold took a backseat with just 11% singing its praises. For the undecided or those craving a mix, they made up the remaining 9%.

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Age of Elegance: Insights from 25 to 40-Year-Olds

Picture this: all the survey magic happened among a lively bunch aged 25 to 40. So, these aren't just any opinions; they're the insights of the trendsetting generation.

Dollars on Display: The Price Tag of Personal Adornments

Hold onto your wallets, folks. In 2020, the average American dropped $62.12 on jewelry. But wait, there's a plot twist—the numbers took a dip from $95.89 in 2019 and $76.41 in 2018.

And hey, that's just the bling; watches got a modest $18.22 in 2020. The watch game remained steady, with U.S. consumers sparing $20.36 in 2018 and $18.44 in 2019.

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Custom Craze: A Surge in Personalized Picks

Brace yourself for a personalized revolution—jewelry companies reported a jaw-dropping 38% spike in custom jewelry sales from 2019 to 2020.

Blame it on the millennials; they're all about individuality, waving goodbye to tradition. Social media's not just scrolling—they inspire unique creations, giving customers a taste for something unique.

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Diamonds in the American Rough: U.S. Dominates Demand

Here's a gem of a stat: the U.S. holds a glittering 48% of the world's polished diamond demand. Yep, almost half of the sparkle-seeking customers worldwide are right here in the good ol' U.S. of A. And get this, it's a sparkle surge—up from 42% in 2014.

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Online Jewelry Industry Statistics

In the digital age, the jewelry world is embracing pixels and clicks. Delve into the realm of online bling, where we unpack the percentage slice of sales happening in the digital space and how consumers are navigating the sparkle online. These statistics shed light on the ever-evolving dynamics of the jewelry market in the virtual sphere.

E-commerce Glitter: A 5-10% Slice of the Pie

Hold onto your mouse—online jewelry sales are carving out a neat 5-10% of the entire jewelry sales realm. That's right, the digital sparkle is more than just a blip on the radar.

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Online Ascendancy: A Steady Uptick in Sales

Here's the scoop: the number of online jewelry sales flexed some serious muscle, soaring by approximately 14% from 2017 to 2018. Brace yourself; the upward climb is far from over. Online bling sales showed an unwavering growth spurt, averaging 3.9% annually from 2012 to 2021.

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A Sparkling History: Peaks and Valleys in Online Sales

Time for a trip down the online sales memory lane. The highlight reel? 2015 takes the cake with a dazzling 17.2% surge. Sales skyrocketed from $5.8 billion in 2014 to a jaw-dropping $6.8 billion in 2015.

Now, for a hiccup in the sparkle journey—online sales took a dip by 9.7% from 2019 to 2020. However, fear not, they held their ground in 2021, standing steady.

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Popping the Question in Pixels: The Online Engagement Ring Scene

Looking to put a ring on it? It turns out that 11% of lovebirds opted for the digital route, making their recent engagement ring purchases online. But wait, online stores aren't taking the crown just yet.

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Chain jewelers swooped in with 31.2% of all ring purchases, while independent stores secured 27.8%. The rest of the bling landscape? Luxury jewelers, vintage rings, department stores, big-box stores, and wholesalers came together for the remaining 30%.

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Conclusion

There you have it, jewelry aficionados—17 stats that spill the beans on what's hot and happening in the world of bling in 2023. From the shifting metal preferences of the stylish crowd to the rise and dip of online sales, it's clear that the jewelry landscape is ever-evolving.

So, whether you're hunting for that perfect engagement ring online or supporting your local jeweler, these stats are your guide to navigating the shimmering seas of the jewelry industry. Here's to a year of sparkle, shine, and, of course, staying casually informed!

Frequently Asked Questions

1. What's the most preferred metal for jewelry among women aged 25 to 40?

White gold takes the crown, with a whopping 35% of surveyed women in the 25 to 40 age bracket expressing a preference for this shimmering metal, making it the reigning favorite.

2. How much did the average American spend on jewelry in 2020, and how does it compare to previous years?

In 2020, the average American spent $62.12 on jewelry, a decrease from $95.89 in 2019 and $76.41 in 2018, reflecting a noticeable dip in spending habits during that particular year.

3. What percentage of the global polished diamond demand does the U.S. hold?

The U.S. commands a dazzling 48% of the world's polished diamond demand, marking a significant increase from the 42% it held in 2014.

4. How has the online jewelry sales landscape evolved in recent years?

Online jewelry sales constitute 5-10% of the overall market, showcasing a steady climb with a 14% increase from 2017 to 2018 and an average annual growth of 3.9% from 2012 to 2021.

5. Are consumers leaning towards personalized jewelry, and if so, why?

Absolutely! Jewelry companies reported a remarkable 38% surge in custom jewelry sales from 2019 to 2020, a trend attributed to millennials' growing preference for individuality over tradition and the influence of social media providing unique ideas and options.