$5.9bn
$XXX.Xm
21,645
2,850
$XXX.Xm
The COVID-19 pandemic threw a curveball at Australia’s Watch and Jewellery Retailing industry, disrupting cashflow and fast-tracking the move to online shopping. This served as a challenge to traditional retailers but paved opportunities for some businesses, which leveraged digital advancements at this time. Amid uncertain financial times, luxury items like fine watches and high-end jewellery have emerged as attractive investment alternatives. As a result, the industry is expected to swell at an annualised 3.8% to a robust $5.8 billion over the five years through 2023-24. However, this includes a dip of 1.3% in 2023-24.
Industry revenue has grown at a CAGR of 3.8 % over the past five years, to reach an estimated $5.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Prouds Jewellers | 534.6 | |
Richemont Australia | 432.0 | |
Michael Hill International | 347.3 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Fine metal jewellery, Precious stones jewellery and Fashion jewellery and other products. Fine metal jewellery is the largest segment of the Watch and Jewellery Retailing in Australia.
Precious stones jewellery is growing as a share of revenue
Industry operators retail fine or fashion jewellery and watches. Fine jewellery and watches include products made with precious metals or precious and semiprecious stones. Fashion jewellery retailers sell products made from non-precious metals, stones, glass, plastic or wood. Online-only retailers, department stores and general clothing retailers are not included in the industry.
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ANZSIC 4253 - Watch and Jewellery Retailing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Sales of demi-fine jewellery have been shining. Demi-fine jewellery fills the gap between fine and fashion jewellery as it is made of metal alloys and semiprecious stones, ma...
Learn about an industry's products and services, markets and trends in international trade.
Precious stone jewellery, largely dominated by diamond products, is witnessing revenue decline due to wavering economic conditions and reduced demand from tourists. Despite t...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Population demographics influence the spread of watch and jewellery retailers. Populous states like New South Wales, Victoria and Queensland house many jewellers because of t...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Price, product ranges and reputation fuel competition in the Watch and Jewellery Retailing industry. Retailers of fine watches and jewellery tend to compete less on price tha...
Learn about the performance of the top companies in the industry.
Long-standing companies like Prouds Jewellers, Michael Hill, Richemont and AD Astra Holdings are the market's most prominent participants. These brands boast a strong reputat...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The Watch and Jewellery Retailing industry receives minimal industry assistance. Retailers don't receive major government subsidies or grants, while tariffs don’t directly ap...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Cost structures vary among watch and jewellery retailers, depending on their product range and size. Fine jewellery and watch retailers often have larger overheads, including...
Including values and annual change:
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Key data sources in Australia include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Watch and Jewellery Retailing industry in Australia is $5.9bn in 2024.
There are 2,850 businesses in the Watch and Jewellery Retailing industry in Australia, which has grown at a CAGR of 3.4 % between 2019 and 2024.
The market size of the Watch and Jewellery Retailing industry in Australia has been growing at a CAGR of 3.8 % between 2019 and 2024.
Over the next five years, the Watch and Jewellery Retailing industry in Australia is expected to grow.
The biggest companies operating in the Watch and Jewellery Retailing market in Australia are Prouds Jewellers, Richemont Australia and Michael Hill International
Fine metal jewellery and Precious stones jewellery are part of the Watch and Jewellery Retailing industry.
The company holding the most market share in Australia is Prouds Jewellers.
The level of competition is high and increasing in the Watch and Jewellery Retailing industry in Australia.