Jewellery Stores in Canada - Industry Market Research Report

Jewellery Stores in Canada - Industry Market Research Report
Jewellery Stores in Canada

The Jewellery Stores industry in Canada sells jewellery, timepieces and sterling and plated silverware from brick-and-mortar establishments. Industry revenue has decreased through the end of 2023 as worsening economic conditions across Canada amid the COVID-19 pandemic prompted a decrease in downstream consumer demand for jewellery and watches. The industry has also experienced increased external competition from department stores, mass merchandisers and e-commerce platforms. During this period, increased demand for these competing industries, particularly online-based businesses, has pressured industry demand. As a result of increased external competition and weak economic conditions, industry revenue has been falling at a CAGR of 2.3% over the past five years and is expected to reach $4.0 billion through the end of 2023. Revenue is expected to fall 0.7% in 2023 alone, as growth in gold and silver prices is forecast to deter new purchases of jewellery. In addition, coronavirus caused majority of the industry's establishments to close during the pandemic to help mitigate the spread of the virus, exacerbating revenue declines throughout the period.

This Jewellery Stores industry in Canada retails jewellery made of gold, diamonds, silver and other precious metals and gemstones. This industry only includes specialty jewellery stores and does not include department stores or online establishments that sell jewellery along with other items.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.