There are many different forms of jewelry: rings, bracelets, necklaces, and others. Jewelry is widely produced using precious metals such as gold, silver, and platinum. They are often combined with other precious gemstones, such as diamonds, to create even more elaborate and fancy pieces. However, jewelry is not always made of expensive materials as there is also a market for
which is much more accessible and modestly priced. China leads the way in the
Market overview
In 2022, the global jewelry market amounted to about 270 billion U.S. dollars. In the previous year, China and Switzerland were the
leading exporters of jewelry worldwide. The United States ranked sixth in the list, exporting jewelry worth over seven billion dollars in 2021. The
U.S. jewelry market was valued at about 70 billion U.S. dollars in 2021. This was driven by an
average annual consumer spend on jewelry of more than 136 U.S. dollars in 2021.
U.S. jewelry stores
Jewelry stores are a feature of high streets and malls throughout the United States. As of 2021, there were a total of around 19,100
jewelry stores in operation in the United States. Jewelry
store sales have been upwards of thirty billion U.S. dollars in each of the last five years with sales tending to
peak in December. During this month, retail sales are often double those of any other month of the year. Signet Jewelers, whose brands include Kay and Zales, was one of the market leaders among retailers of jewelry in the United States, with
worldwide retail sales of over 7.8 billion U.S. dollars in 2022. Tiffany & Co., with its iconic New York flagship store, is arguably the biggest name in the world of jewelry. In 2021, Tiffany & Co. was acquired by the luxury powerhouse,
LVMH.
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