Industry Analysis & Industry Trends
The industry has been on the decline for the past decade, and revenue will continue to fall over the next five years. Intensifying competition from retailers and manufacturers that offer free or discounted after-sale repair services has reduced demand for the industry. Substitute goods, such as smartphones, have also reduced consumer demand for watches and, thus, repair services. Rising input costs have squeezed profit margins, forcing many operators to exit the industry.... purchase to read more
Industry Report - Industry Products Chapter
The Watch and Jewelry Repair industry is primarily engaged in providing watch and jewelry repair services. Firms in the industry also offer other repair and rental services and resell refurbished merchandise and parts.
Watch and jewelry repair services account for about 85.0% of industry revenue, of which jewelry accounts for about 60.0% and watches and clocks account for about 25.0%. Jewelry repair services include ring sizing, jewelry mounting, prong retipping, stone replacement, custom design, cleaning and polishing, chain soldering, bracelet repair and pearl restringing. Over the past five years, this segment has remained flat overall as a share of revenue, with jewelry repair capturing a larger share of revenue at the expense of watch repair... purchase to read more