Crown jewels: Rising disposable income will revive demand for high-end jewelry

The Jewelry Stores industry in New York consists of brick-and-mortar establishments that primarily retail jewelry and timepieces. Over the five years to 2017, the industry has performed well as positive macroeconomic conditions have stimulated demand for the highly discretionary goods retailed by this industry. Furthermore, growth in the number of international travelers visiting the state of New York has provided a boost to industry operators, as many tourists come to New York City to shop in the metropolitan fashion hub; New York City's Diamond District and the Tiffany & Co.'s Flagship store serve as tourist attractions and help the industry capture tourist dollars...purchase to read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
0.7%
Forecast Growth 17-22
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Profit
x.x%lock
Employment
14,546
Businesses
6,238
Market Share of Companies

Industry Threats & Opportunities

  • Growth in New York’s macroeconomic climate has been the largest driver of industry demand
  • External competition has somewhat stunted industry growth
  • Jewelry stores in New York will receive a strong boost from a growing macroeconomic climate

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    Industry Report - Starting a New Business Chapter

    In New York, the Jewelry Stores industry has relatively low barriers to entry. Success within the industry, however, may prove difficult for potential entrants due to the highly competitive nature of the industry. Barriers to entry in this industry include procuring an easily accessible retail space, securing funds for inventory and hiring knowledgeable employees. Furthermore, new players are challenged to establish brand recognition and a quality reputation; without these factors, entrants are not likely to succeed in this competitive industry. New players compete with incumbents with notable reputations, such as Tiffany & Co., which is synonymous with exclusive jewelry in the United States. To ...purchase to read more.

    Additional Insights for the Jewelry Stores in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Jewelry Stores in New York Industry are

  • Ability to control stock on hand
  • Production of goods currently favored by the market
  • Proximity to key markets

    • IBISWorld analysts also discuss how external factors such as Per Capita Disposable Income in New York and External competition for the Jewelry Stores industry in the Jewelry Stores in New York industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Jewelry Stores in New York Industry?

    Operators in this industry sell new jewelry, timepieces and sterling and plated silverware. Companies that vend these products in combination with engraving or repair services are also included in the industry. Operators do not cut and set gemstones or sell costume jewelry or antiques. They also do not sell used goods or provide repair services without also selling new jewelry products. Moreover, this industry does not include internet, mail order or direct sales retailers.

    Industry Products
  • Diamond jewelry
  • Watches, wristbands and parts
  • Pearl and other gemstone jewelry
  • Gold jewelry
    • Industry Activities
  • Selling new jewelry (except costume jewelry)
  • Selling new sterling and plated silverware
  • Selling new watches and clocks
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Per Capita Disposable Income in New York
  • External competition for the Jewelry Stores industry
  • Households earning more than $100,000
  • Inbound trips by non-US residents in New York
  • Marriage rate

    • Current Performance
  • Macroeconomic boosts
  • Competition
  • Chart: Revenue Growth

    • Industry Outlook
  • Sparkling future
  • Marriage woes and competitive threats
  • Table: Jewelry Stores in New York Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Jewelry Stores in New York Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Civic, Social & Youth Organizations
  • Colleges & Universities
  • Wedding Services
  • Consumers

    • Key Selling Industries
  • Glass Product Manufacturing
  • Gold & Silver Ore Mining
  • Jewelry & Watch Wholesaling
  • Jewelry Manufacturing
  • Mineral Product Manufacturing

    • Products & Services
  • Diamond jewelry
  • Other
  • Watches, wristbands and parts
  • Pearl and other gemstone jewelry
  • Gold jewelry
  • Chart: Jewelry Stores in New York Industry Products and Services Segmentation

    • Major Markets
  • Consumers under 25 years old
  • Consumers aged 25 to 34
  • Consumers aged 55 to 64
  • Consumers aged 35 to 54
  • Consumers aged 65 and older
  • Chart: Major Market Segmentation for the Jewelry Stores in New York Industry

    • Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciationRent, utilities and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Jewelry Stores in New York

    • Basis of Competition
  • Internal competition
  • External competition

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Jewelry Stores in New York Industry

    • Major Companies

    Signet Jewelers Ltd., Catbird, Leigh Jay Nacht Inc., Compagnie Financiere Richemont SA, Tiffany & Co.,
  • Table: Signet Jewelers Ltd. - financial performance
  • Table: Catbird - financial performance
  • Table: Leigh Jay Nacht Inc. - financial performance
  • Table: Compagnie Financiere Richemont SA - financial performance
  • Table: Tiffany & Co. - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Jewelry Stores in New York Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Jewelry Stores in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • World price of gold (2008-2022)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Aspirational Shopper
  • A consumer who makes luxury purchases priced below $300 in order to satisfy their need for shopping on a tight budget.
    • 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.
    • Brick And Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
    • Cut
  • The angles and proportions created in transforming a rough diamond into a polished diamond. A diamond that is well cut is more valuable than a diamond that is not.
    • Electronic Data Interchange (Edi)
  • The transmission of data between businesses from one computer system to another.
    • Gemologist
  • An expert in precious stones, who can often identify and evaluate types of gems.
    • Karat
  • A unit of measurement that describes the purity of gold.
    • What Our Customers Say
    Why buy this report?

    IBISWorld’s industry research report on Jewelry Stores in New York provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
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    This report on Jewelry Stores in New York:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Jewelry Stores in New York market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Jewelry Stores in New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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