US Jewelry Market with Focus on Engagement Rings: Industry Analysis & Outlook ( )

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1 Industry Research by Koncept Analytics US Jewelry Market with Focus on Engagement Rings: Industry Analysis & Outlook ( ) June

2 Executive Summary Jewelry is one of the most valuable segments in trade and commerce industry. Jewelry consists of small decorative items worn for personal adornment, such as brooches, rings, necklaces, earrings, and bracelets. Jewelry may be attached to the body or the clothes, and the term is restricted to durable ornaments, excluding flowers. For many centuries metal, often combined with gemstones, has been the normal material for jewelry, but other materials such as shells and other plant materials may be used. Inspired by the growing economy and rising personal income, the US jewelry market has witnessed an impressive growth thus, expanding the boundaries of its existing realm. Jewelry market s retail as well as online segment both are fiercely competitive and are highly fragmented. Considering several elements utilized in jewelry industry, gold has always dominated the industry on account of its vivid physical and chemical properties like luster and ease of fabrication. Apart from gold, other chief metals employed in the jewelry industry include diamond, platinum, silver, titanium, and palladium among others. The key factors which are anticipated to drive US jewelry market include economic growth, increasing urbanization and rise of middle class, increasing employment in the US, rising internet penetration and increase in working women population. Some of the significant developments of this industry include growing popularity of omni channels, changing consumer preferences, and increasing women self-purchase. However, the challenges faced ahead by the US industry includes lack of expert advice and real product examination, threat from synthetic diamond, cybercrime and fraud and rising mining cost. This report offers a comprehensive analysis of the US jewelry market. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in depth. On the contention front, the market is reined by few major players namely LVMH, Signet, Tiffany & Co., and Blue Nile. The competitive landscape of the respective market, along with the company profiles of the leading players are also discussed in detail. 2

3 Several factors including rising disposable incomes, growing population especially millennial, and rapid urbanization will drive the market for diamond jewelry in the next few years. Also, the supply of rough diamonds is expected to maintain a tight balance with demand, which will further strengthen the market outlook Global Diamond Jewelry Market by Value ( ) In 2016, the global diamond jewelry market was valued at US$... billion, compared to US$... billion, depicting an annual rise of %. By the end of year 2021, the global diamond jewelry market is predicted to reach US$... billion, growing at a CAGR of %, spanning from 2017 to In year 2016, the US accounted for % market share, followed by China and India with % and % shares, respectively Global Diamond Jewelry Market Forecast by Value ( ) Global Diamond Jewelry Market by Region (2016) The US China India Others 3

4 Several factors such as increasing purchasing power of people, growing sales through online mode and initiatives by the companies to reduce hesitation to purchase online will continuously provide the fuel required for growth of the US diamond engagement ring market. The US Diamond Engagement Ring Market by Value ( ) In 2016, the US diamond engagement ring market was recorded at US$... billion, increasing from US$... billion in preceding year, recording annual growth of %. By the end of year 2021, the US diamond engagement ring market is expected to reach US$... billion mark, growing at a CAGR of % spanning from In 2016, diamond engagement rings accounted for % share of the overall US diamond jewelry market. The remaining share of % was distributed amongst different varieties of diamond jewelry The US Diamond Engagement Ring Market Forecast by Value ( ) The US Diamond Jewelry Market by Type (2016) Diamond Engagement Rings Others 4

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