Watch & Jewelry Repair in the US - Industry Market Research Report

Watch & Jewelry Repair in the US - Industry Market Research Report
Watch & Jewelry Repair in the US

Over the five years to 2020, the Watch and Jewelry Repair industry has largely expanded due to favorable economic trends and shifting retail market dynamics. Prolonged economic growth over the past decade contributed to rising disposable income, which incited greater consumer spending. Accordingly, sales and repair of watches and jewelry grew through most of the current period. However, industry revenue has contracted markedly in 2020 as business and social activity has been materially affected by the COVID-19 (coronavirus) pandemic. As such, industry revenue has decreased an annualized 0.6% to $1.6 billion over the five years to 2020, including an expected decline of 19.4% in 2020 alone.

This industry provides watch and jewelry repair services, including sizing, polishing and battery replacement. Operators in this industry also offer other repair and rental services and resell refurbished merchandise and parts. Industry participants are stand-alone shops that do not sell new watches or jewelry.

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.