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Jewerly & Watch Wholesale

Jewerly & Watch Wholesale

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Executive summary

Operators in the Jewelry and Watch Wholesaling industry have experienced volatility over the five years to 2022 due to the unstable prices of precious metals. The weight of the precious metal that a piece of jewelry contains largely determines its retail price. Consequently, any large change in the prices of commodities, such as gold, silver or platinum, has a strong influence on the industry. Industry revenue is highly affected by the price of these commodities, as they affect both the cost and selling price of industry goods. In 2020, the COVID-19 (coronavirus) pandemic disrupted global financial markets, increasing the price for precious metals. Consequently, industry revenue is expected to decrease during the period amid a shift in downstream purchasing decisions due to the coronavirus pandemic. Overall, industry revenue is expected to decrease at an annualized rate of 2.0% to $54.4 billion over the five years to 2022. However, this includes an increase of 1.1% in 2022 alone.
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Each report includes:

industry revenue;

industry profit;

industry margin;

industry employment;

industry major players;

industry key external drivers;

industry product & structure segmentation;

industry key trends;

industry Life Cycle;

industry Geographic Breakdown;

industry Key Success Factors;

industry Key statistics for previous years;

forecast of industry Key statistics for the next 5 years;

Reference Wordlist

BARRIERS TO ENTRY
High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

CAPITAL INTENSITY
Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor.
IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $0.333 of capital to $1 of labor; medium is $0.125 to $0.333 of capital to $1 of labor; low is less than $0.125 of capital for every $1 of labor.

CONSTANT PRICES
The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

DOMESTIC DEMAND
Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

Colloquial Terminology

BIG-BOX STORE
A retail store that is differentiated by its sheer size and large range of products, including electronics, household goods and other consumer products.

E-TAILER
A retailer that primarily sells goods and services via the internet. Many of these companies do not have brick-and-mortar locations.

ELECTRONIC DATA INTERCHANGE (EDI)
The transmission of electronic documents between businesses from one computer system to another.

FASHION OR COSTUME JEWELRY
Jewelry that is made of less-precious stones and metals and is therefore less expensive.

MASS MERCHANDISERS
Large retailers that sell a variety of products and services, ranging from groceries to electronics.

Details

The price of gold comprises a large portion of the purchasing costs for wholesalers. With purchases representing such a large percentage of revenue, it has caused industry profit to remain low. An oversupply outpacing demand in commodities in recent years drove prices down, until the pandemic shook up the global supply chain. Commodity prices are at an all-time high while supply remains low, drastically increasing prices. Specifically, in 2022, the world price of gold is anticipated to increase 5.0%. Industry profit, measured as earnings before interest and taxes, is estimated to account for 3.1% of industry revenue in 2022.

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