Luxury Watches & Jewelry

United States

(Core country: data based on in-depth analysis)

Highlights
Market definition
in-scope / out-of-scope
Reports special
  • Revenue in the Luxury Watches & Jewelry segment amounts to US$9,698m in 2019. The market is expected to grow annually by -0.8% (CAGR 2019-2023).
  • The market's largest segment is the segment Luxury Watches with a market volume of US$5,657m in 2019.
  • In global comparison, most revenue is generated in China (US$42,450m in 2019).
  • In relation to total population figures, per person revenues of US$29.47 are generated in 2019.
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Watches and Jewelry are usually referred to as “hard luxury” to differentiate them from fashion and accessories, which are made from comparatively “soft” materials.

The overall definition of this segment follows broadly the Consumer Market Outlook’s Watches and Jewelry segment in the Accessories market, while here only sales of luxury brands are considered, and consequently, trend watches and fashion jewelry are excluded. Another difference is that luxury watches include hand-made watches that are not included in the Accessories market of the Consumer Market Outlook.

The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Accordingly, watches and jewelry from smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.

The biggest players in this field are LVMH, Richemont, Kering, Swatch, Chow Tai Fook and Rolex. A detailed list of all assessed companies and their brands can be found in the methodology.

Hard luxury is a mainstay of the personal luxury goods industry and still accounts for a high share of sales, yet it has been characterized by relatively low growth in recent years due to an economic slowdown and changing consumption habits especially in the Greater China region, which had fueled global sales in the beginning of the decade.
in-scope
  • Watches
  • Jewelry
  • Luxury segments and brands of the companies covered (see methodology for list)
out-of-scope
  • Watch parts and -bands
  • Unfinished raw materials for jewelry (precious metals, pearls, precious or semi-precious stones)
  • Artisanal and small-scale production unaffiliated with the covered companies (see methodology for list)
Luxury Goods Report 2019 – Luxury Watches & Jewelry

Luxury Goods Report 2019 – Luxury Watches & Jewelry

Statista Consumer Market Outlook - Segment Report
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Revenue (2019)
-0.2% yoy
US$9,698m
Average Revenue per Capita (2019)
-0.8% yoy
US$29.47

Revenue Revenue Growth

in the Luxury Watches & Jewelry market in million US$ in percent

Reading Support Revenue in the Luxury Watches & Jewelry segment amounts to US$9,698m in 2019. Reading Support The Luxury Watches & Jewelry segment is expected to show a revenue growth of 0.2% in 2020.

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  • Revenue
  • Revenue Growth
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Revenue:

The “Revenue” box shows the forecasted revenue development of the selected market (market segment, region) in million of the selected currency for each year.


Revenue Growth:

The “Revenue Growth” box shows the year-over-year revenue development of the selected market (market segment, region) in percentage terms.

A definition and detailed explanation of the displayed markets can be found here.
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Competitive Landscape

in the Luxury Watches & Jewelry market in percent

Reading Support Products of brands held by Tiffany amount to an estimated 20.2% of the Luxury Goods market in the selected segment and region in 2019.

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Competitive Landscape:

The Competitive Landscape box shows the market share of revenues by company for the selection (market segment, region) in the current year.

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Average Revenue per Capita

in the Luxury Watches & Jewelry market in US$

Reading Support The average revenue per person in the segment for Luxury Watches & Jewelry amounts to US$29.47 in 2019.

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Average Revenue per Capita:

The "Average Revenue per Capita" box shows the average market value of the selected market (market segment, region) per person in the selected currency for each year.

A definition and detailed explanation of the displayed markets can be found here.
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Global Comparison - Revenue

in the Luxury Watches & Jewelry market in million US$

Reading Support With a market volume of US$42,450m in 2019, most revenue is generated in China.

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Top 5
China
Hong Kong
United States
India
Japan
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Global Comparison – Revenue:

The “Revenue” tab shows a comparison of revenues for the leading economies in the selected market (market segment, region) and year.

A definition and detailed explanation of the displayed markets can be found here.
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Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

201520162017201820192020202120222023 CAGR
(2015-2023)
Population in m
Number of individuals (all ages) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
0-4 years in m
Number of individuals (age 0-4) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
5-9 years in m
Number of individuals (age 5-9) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
10-14 years in m
Number of individuals (age 10-14) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
15-19 years in m
Number of individuals (age 15-19) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
20-24 years in m
Number of individuals (age 20-24) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
25-29 years in m
Number of individuals (age 25-29) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
30-34 years in m
Number of individuals (age 30-34) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
35-39 years in m
Number of individuals (age 35-39) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
40-44 years in m
Number of individuals (age 40-44) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
45-49 years in m
Number of individuals (age 45-49) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
50-54 years in m
Number of individuals (age 50-54) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
55-59 years in m
Number of individuals (age 55-59) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
60-64 years in m
Number of individuals (age 60-64) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
65-69 years in m
Number of individuals (age 65-69) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
70-74 years in m
Number of individuals (age 70-74) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
75-79 years in m
Number of individuals (age 75-79) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
80-84 years in m
Number of individuals (age 80-84) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
85-89 years in m
Number of individuals (age 85-89) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
90-94 years in m
Number of individuals (age 90-9) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
95-99 years in m
Number of individuals (age 95-99) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
100+ years in m
Number of individuals (age 100+) living in the selected region, the data reflect the United Nations' medium variant of World Population Prospects | Source: Statista, based on UN DESA
Business cycle
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Consumer confidence
The indicator shows as a result of surveys the difference between positive and negative answers of consumers regarding their economic situation and plans for major purchases in the form of an index that has the long term trend (=100) as its basis. | Source: Statista, based on OECD
Business confidence
The indicator shows as a result of surveys the assessment of businesses regarding their current and future production, orders and stocks in the form of an index that has the long term trend (=100) as its basis. | Source: Statista, based on OECD
Unemployment rate in %
The indicator shows the share of unemployed people in the selected region, defined as persons without work that seek employment, as a percentage of the total labor force. The data is based on national estimates. The definitions of labor force and unemployment differ by country. | Source: Statista, based on IMF WEOD
Domestic credit (% of GDP) in %
The indicator shows the share of all domestic credit of the total gross domestic product (GDP) in the region. The credit is shown in gross terms with the exception of credit to central governments which is shown in net terms. High levels of indebtedness can indicate the formation of a bubble that can cause an economic downturn. | Source: Statista, based on World Bank
Consumer spending (current) in US$
Average consumer spending per capita of private households in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Foodstuffs, beverages in US$
Consumer spending per capita for food and non-alcoholic beverages (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. In contrast, the Food market in the Consumer Market Outlook covers only certain segments of processed food and excludes for example fresh food, oils and fats and some other items. The markets for Alcoholic, Non-Alcoholic and Hot Drinks in turn not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Alcohol, tobacco in US$
Consumer spending per capita for alcoholic beverages, tobacco and narcotics (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. The market for Alcoholic, Non-Alcoholic and Hot Drinks not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Clothing, footwear in US$
Consumer spending per capita for clothing and footwear (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). Included are both consumption of goods as well as services (cleaning and cobblers). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Housing in US$
Consumer spending per capita for housing, water, electricity, gas and other fuels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Household in US$
Consumer spending per capita for furnishings, household equipment and routine maintenance of the house (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Health in US$
Consumer spending per capita for health (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Transport in US$
Consumer spending per capita for transport (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). This group inlcudes the purchase of vehicles, maintenenace of vehicles as well as transportation services. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Communication in US$
Consumer spending per capita for communication (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Recreation, culture in US$
Consumer spending per capita for recreation and culture (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Education in US$
Consumer spending per capita for education (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Restaurants, hotels in US$
Consumer spending per capita for restaurants and hotels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Other in US$
Consumer spending per capita for miscellaneous goods and services (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Consumer price index (CPI)
Consumer price index (CPI) for a weighted basket of goods and services. The weights of the components vary by country according to local consumption patterns. The base year (100) has been set to 2017 for all countries, the base year of the input data may vary. | Source: Statista, based on IMF WEOD
Foodstuffs, beverages
Consumer price index for food and non-alcoholic beverages. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Alcohol, tobacco
Consumer price index for alcoholic beverages, tobacco and narcotics. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Clothing, footwear
Consumer price index for clothing and footwear. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Housing
Consumer price index for housing, water, electricity, gas and other fuels. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Household
Consumer price index for furnishings, household equipment and routine maintenance of the house. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Health
Consumer price index for health. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Transport
Consumer price index for transport (purchase of vehicles, maintenenace of vehicles and transport services). Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Communication
Consumer price index for communication. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Recreation, culture
Consumer price index for recreation and culture. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Education
Consumer price index for education. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Restaurants, hotels
Consumer price index for restaurants and hotels. Gaps filled with next higher COICOP position | Source: Statista, based on IMF, national statistical offices
Other
Consumer price index for miscellaneous goods and services. These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. Gaps filled with next higher COICOP position. | Source: Statista, based on IMF, national statistical offices
Price level (U.S.=100)
Estimated price level index for all goods and services for individual private consumption (U.S.=100). Data has been extrapolated from the latest iteration of the World Bank's International Comparison Program (2011) using inflation data. The timeline has been stabilised for currency effects by using the average exchange rate for 2017. Numbers above 100 signal that prices are on average higher in this region than in the U.S., numbers below would mean prices in this region are on average lower than in the U.S.. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Foodstuffs, beverages
Estimated price level index for food and non-alcoholic beverages (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Alcohol, tobacco
Estimated price level index for alcoholic beverages, tobacco and narcotics (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Clothing, footwear
Estimated price level index for clothing and footwear (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Housing
Estimated price level index for housing, water, electricity, gas and other fuels (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Household
Estimated price level index for furnishings, household equipment and routine maintenance of the house (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Health
Estimated price level index for health (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Transport
Estimated price level index for transport (U.S.=100). This group inlcudes the purchase of vehicles, maintenenace of vehicles as well as transportation services. Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Communication
Estimated price level index for communication (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Recreation, culture
Estimated price level index for recreation and culture (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Education
Estimated price level index for education (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Restaurants, hotels
Estimated price level index for restaurants and hotels (U.S.=100). Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Other
Estimated price level index for other goods and services (U.S.=100). These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. Data has been extrapolated from the last iteration of the World Bank's International Comparison Program (ICP) using inflation data. The timeline has been stabilised for currency effects by using a constant exchange rate. | Source: Statista, based on World Bank, IMF, Eurostat and national statistical offices
Price of a Big Mac in US$
The price of a Big Mac at McDonald's has been introduced by the Economist in 1986 as an illustrative example to compare price levels between countries. The prices have been converted from Local Currency Units (LCU) using the average exchange rate of 2017. | Source: Statista, based on Economist
Tax rates
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Corporate tax rate in %
Displayed is the typical rate for corporate income. Due to local taxes, the overall tax rate may vary within the country. | Source: Statista, based on KPMG
Personal income tax rate in %
Displayed is the top marginal tax rate. Due to local taxes, the overall tax rate may vary within the country. | Source: Statista, based on KPMG
Tourism
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International tourism departures in m
Number of people from the selected region setting out to travel other countries for touristic purposes | Source: Statista, based on World Bank
International tourist arrivals in m
Number of visitors from abroad arriving in the selected region for touristic purposes | Source: Statista, based on World Bank
International tourism expenditure in billion US$
International tourism expenditures are expenditures of international outbound visitors in other countries, including payments to foreign carriers for international transport. Domestic tourism expenditures are therefore not inlcuded. The data is not adjusted for inflation or currency effects. | Source: Statista, based on World Bank
International tourism receipts in billion US$
International tourism receipts denote expenditures by inbound tourists from other countries in the selected region. Receipts from domestic tourism are not included. The data is not adjusted for inflation or currency effects. | Source: Statista, based on World Bank
Households in m
Total number of households in the selected region | Source: Statista
GDP (current) in US$
Gross domestic product (in current prices, constant exchange rate) of the selected region per capita | Source: Statista, based on IMF WEOD
HNWI in k
Number of High Net Worth Individuals (HNWI) in the selected region. HNWI are private persons with investible assets of at least 1 million US-Dollars (here based on the current exchange rate of the LCU versus the US-Dollar of each respective year). | Source: Statista, based on Credit Suisse
Exchange rate (1 LCU in USD)
The average exchange rate of 1 unit of local currency (local currency unit: LCU) in the respective year for US-Dollar | Source: Statista, based on IMF
Source: Statista, June 2019
Source: Statista, June 2019, based on IMF, World Bank, UN and Eurostat