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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 Key Buyers Chapter

The Watch and Jewelry Repair industry is highly fragmented with a low level of concentration, defined as the top four industry firms accounting for less than 40.0% of industry revenue. According to Census data and IBISWorld estimates, industry concentration has steadily declined during the past decade as operators have exited the industry due to receding demand. Throughout the past five years, the number of firms declined at an annualized rate of 2.0%, from about 14,705 in 2008 down to about 13,325 in 2013. About 95.0% of these firms employ fewer than 10 individuals. In the next five years, IBISWorld anticipates industry concentration to continue declining as firms exit the industry due to falling demand... 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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