PROSPECTS AND OPPORTUNITIES
Steady growth projected for fine and costume jewellery amid economic challenges
Over the forecast period, Singapore's jewellery market is expected to maintain steady growth in both retail volume and value terms, despite ongoing macroeconomic challenges. With the timing of engagements and weddings closely tied to the completion of public housing projects, including Housing and Development Board (HDB) flats and new condominium developments, the continued release of these housing units is likely to support demand for fine jewellery.
Brands will embrace customisation and personalisation
The jewellery industry is experiencing a major shift due to digitalisation, offering consumers an interactive, personalised shopping experience. Advancements in technology now allow customers to create their own designs directly on jewellers' websites, revolutionising the purchasing process.
Omnichannel approach will be key to capturing the attention of consumers
Looking ahead, the jewellery market in Singapore is expected to continue benefiting from the integration of both online and offline channels. While offline retail remains dominant for high-value pieces like fine jewellery, the shift to e-commerce - accelerated by the pandemic - is clearly here to stay.
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Overview:
Understand the latest market trends and future growth opportunities for the Jewellery industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jewellery industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Jewellery in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Jewellery in Singapore?
- Which are the leading brands in Jewellery in Singapore?
- How significant is tourism in determining sales and demand for Jewellery in Singapore?
- How are COVID-19 and global recession impacting demand for Jewellery in Singapore?
- In the wake of COVID-19, how soon can Jewellery be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Jewellery in Singapore - Category analysis
KEY DATA FINDINGS
Continued growth, despite ongoing economic uncertainty
Lab-grown diamonds gain popularity among Gen Z and Gen Alpha
Slowdown in post-pandemic wedding boom impacts fine jewellery market
Steady growth projected for fine and costume jewellery amid economic challenges
Brands will embrace customisation and personalisation
Omnichannel approach will be key to capturing the attention of consumers
Personal Accessories in Singapore - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Jewellery
- Costume Jewellery
- Fine Jewellery
Jewellery
Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery is segmented as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Jewellery research and analysis database.
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