Jewelry Sales Decline in Volume but Increase in Value Across Germany

Despite fewer customers, higher average prices and strong demand for luxury items maintain near-record revenue levels for jewelers and watch retailers.

• The German jewelry and watch industry reported a 1.2% drop in revenue for 2024, totaling €5.26 billion, following two exceptionally strong post-pandemic years.
• Fewer customers are visiting jewelers, but those who do are spending more, driven by rising average prices for gold and diamonds due to higher raw material costs.
• Watches contributed €1.2 billion to the sector's revenue, while jewelry accounted for over €4 billion despite a slight cooling in demand for high-end watch models.
• Exports of gold, silver, and jewelry products decreased slightly to €5.1 billion, while watch exports saw a modest increase to €1.9 billion.
• Challenges for the industry include inflation, high labor costs, reduced international demand, and the impact of elevated gold prices on consumer purchasing behavior.

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