Jewelry, Watch, Precious Stones & Metals Wholesalers
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 6,500 Jewelry, watch, precious stone, and metal wholesalers purchase bulk quantities of merchandise from manufacturers and other intermediaries and distribute these products to retailers, ecommerce operators, jewelry stores, jewelry makers, and other businesses. The jewelry supply chain is a complex global operation that can involve numerous players, including mines, cutting and polishing centers, trading hubs, importers, trade shows, and dealers. Wholesalers may specialize in a particular product, such as loose diamonds, or offer a broad range of merchandise.
Sensitive to Economic Conditions
The jewelry, watch, precious stone, and metal wholesale industry is sensitive to changes in downstream retail activity and consumer spending, which are influenced by economic conditions.
Complex Supply Chain and Regulation
The complex and controversial nature of the jewelry supply chain has led to a demand for more transparency and increased governmental scrutiny and regulation.
Industry size & Structure
The average jewelry, watch, precious stone, and metal wholesaler operates out of a single location, employs 5-6 workers, and generates $7-8 million annually.
- The jewelry, watch, precious stone, and metal wholesale industry consists of about 6,500 firms that employ about 34,6000 workers and generate $51 billion annually.
- The industry is concentrated at the top and fragmented at the bottom; the top 50 companies account for about 51% of industry revenue.
- Large companies with jewelry, watch, precious stone, and metal wholesale operations include Quality Gold, Stuller, Rio Grande (Berkshire Hathaway), and JewelryBund.
- Large firms may be vertically integrated and have some manufacturing and/or consumer retail operations.
Industry Forecast
Jewelry, Watch, Precious Stones & Metals Wholesalers Industry Growth
Recent Developments
Aug 16, 2024 - Employment Down, Labor Costs Rise
- Employment by jewelry, watch, precious stone, and metal merchant wholesalers declined in the first six months of the year, while average wages for the nonsupervisory employees in the industry grew through June 2024, according to data from the US Bureau of Statistics (BLS). Average wages reached $29.68 per hour in June 2024, up 14.6% from a year ago. Producer inflation for miscellaneous durable goods merchant wholesalers, which includes jewelry, watch, precious stones, and metal wholesalers, was up 1.4% in July 2024 compared to a year ago, according to producer price data released by the BLS.
- US jewelry demand increased 6.5% in July 2024 compared to the previous year, according to Tenoris. Products with high growth in the month included dangle earrings (70%) and tennis bracelets (30%). Consumer demand for natural diamonds also grew during July, with revenue from loose and finished natural diamond jewelry sales up 8.5%. Lab-grown diamond jewelry also performed well year over year, with revenue from sales up 52% in July.
- Slow retail sales and oversupply in India contributed to a drop in diamond prices in July 2024, according to Rapaport. Regionally, the Chinese market showed lower demand for diamonds as consumers faced a slow economy and shifted from diamonds as an investment. Luxury brands also bought fewer diamonds, with slower US bridal demand reported at Tiffany & Co. The RapNet Diamond Index (RAPI) for 1-carat goods fell 7.3% in July, the biggest monthly decline for that size since December 2008. The RAPI for 0.50-carat and 0.30-carat goods dropped 7.9% and 8.9%, respectively, in July.
- The men’s jewelry market is projected to grow from $35.9 billion in 2024 to $71.8 billion in 2032, at a CAGR of 8.4%, driven by higher disposable income, according to a Polaris Market Research report. The men’s jewelry market was valued at $34.2 billion in 2023. According to the report, the men’s jewelry category has undergone a significant transformation with growing fashion awareness, design versatility, and a changing depiction of masculinity in society. Wedding bands and signet rings with gemstones, pendants with religious symbols or personal engravings, and layered necklaces are becoming more popular with men. The ring category dominated the market in 2023, as rings have become more of a status symbol. Sales of men's gold jewelry are expected to grow significantly during the forecast period.
Get A Demo
Vertical IQ’s Industry Intelligence Platform
See for yourself why over 60,000 users trust Vertical IQ for their industry research and call preparation needs. Our easy-to-digest industry insights save call preparation time and help differentiate you from the competition.
Build valuable, lasting relationships by having smarter conversations -
check out Vertical IQ today.