People will continue to enjoy buying personal everyday Companions in future and giving them as gifts. This Germany’s Jewellery Market is expected to grow on average by 2.2 percent per year until 2019. This means it will increase from EUR 9.6 billion at present to EUR 10.7 billion.
Surveys by the Cologne Institute of Retail Research shows that the Jewelry market, following a Significant fall in 2013, has Stabilized again. Per Capita expenditure on Jewelry products currently stands at EUR 47.31 (2014). The forecast suggests that by 2019 the Jewelry market will actually exceed its 2012 record, attaining a market volume of EUR 4.2 billion.
Online Trend Continuing
The next few years will also see online growth in sales of jewelry, watches and personal accessories. Distribution will shift further towards non- bricks-and-mortar retailing. Internet pure players will play the decisive role in this development, in the lead over online shops of bricks-and-mortar retailers.
In 2014 the share of online business in the jewelry market, standing at 11 percent, is currently still relatively modest. However the trend to 2019 is upward and the online share is set to grow to 17.3 percent. The fashion trade, in particular, is opting increasingly for online distribution
Results of the Study
1. Women prefer to Buy for themselves
Jewelry is an expression of individuality (72.2 percent) and has a high Emotional value (63.8 percent). This description was given particularly by Women, who attribute a much higher Significance to jewelry than do men. 83.3 percent of Women wear Jewelry as a fashionable addition to their clothing. Among men the figure is only 54.3 percent.
But it is not only in the importance of jewelry that there are differences between men and women: 40.2 percent of men buy no Jewelry at all. If they do buy jewelry, it is frequently for their wife. (41.5 percent). Women, by contrast, buy jewelry mainly for themselves (70.2 percent). Only 1.4 percent of women buy jewelry for their partner.
2. Income Level
As expected, level of income plays a major role When buying Jewelry and Watches: Greater the income, Greater the readiness to buy Jewelry and Watches. High-Income Households are more likely to buy Jewelry (81.1 percent) than low-Income Households (62.8 percent). It is similar when it comes to giving Jewelry as gifts: 59.1 percent of people on high incomes gives Jewelry, while only 40.4 percent on lower incomes give such presents.
3. Impulse Buyers: Singles buy more frequently for themselves
Single people, in particular, are more likely to buy Jewelry, Watches and Accessories on Impulse and without advance Planning. More than one in two single people buys Jewelry most frequently on impulse (55.7 percent), while for those living with a partner the figure is only one in five (21.6 percent).