Overview

• The jewelry and watch industry is seeing higher price points due to a significant rise in gold prices, with gold now costing double what it did five years ago.
• While overall sales volumes are slightly declining, consumers are opting for higher-quality, more expensive items, including simple designs featuring real diamonds.
• Luxury watches priced above €5,000 continue to see stable demand, although some top brands face occasional supply chain issues.
• Post-pandemic lifestyle changes, such as increased spending on travel, dining, and events, are creating competition for discretionary spending in the luxury market.
• Despite a projected 7% revenue decline for 2024, the sector remains resilient, buoyed by previous record years and steady consumer interest in in-store shopping experiences.