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Watch & Jewelry Repair in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Watch & Jewelry Repair Market Research Report | Consumer Goods & Services | Personal Services | Apr 2013

Out of time: Falling demand and rising competition have pushed the industry into decline

IBISWorld’s Watch & Jewelry Repair market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$504m
Annual Growth 08-13
-4.9%
Annual Growth 13-18
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Profit
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Employment
16,655
Businesses
13,325
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 SWOT Analysis Chapter

The Watch and Jewelry Repair industry is in the declining phase of its life cycle. Mounting competition from jewelry and watch retailers, who increasingly offer discounted or free repair services, has eaten into revenue over the past decade. Meanwhile, industry value added, which measures the industry's contribution to the overall economy, is expected to fall at an average annual rate of 3.0% over the ten years to 2018. In contrast, US GDP is forecast to grow at an annualized rate of 2.1% over the same period. Other factors indicating the industry's decline include a falling number of industry enterprises and establishments, as well as a low level of technological change... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Watch & Jewelry Repair Industry?

This industry provides watch and jewelry repair services, including sizing, polishing and battery replacement. Firms in the industry also offer other repair and rental services and resell refurbished merchandise and parts. However, industry participants are stand-alone shops that do not sell new watches or jewelry.

Industry Products
Jewelry repair servicesWatch repair servicesResale of partsResale of refurbished merchandiseOther services
 
Industry Activities
Jewelry repairsJewelry polishingWatch and clock repairsWatch and clock battery replacementSizing servicesStone replacement services


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